FAAN terminates Bi-Courtney leases

The Federal Airports Authority of Nigeria has terminated two
leases granted Bi-Courtney Limited at the Murtala Mohammed Airport, Ikeja, Lagos State for the development and management of a four-star hotel and conference centre.
In two separate letters, dated April 19, 2012, the Authority informed Bi-Courtney that the leases granted it in respect of the two projects had been terminated as a result of breaches committed by the
company in the agreements it signed with FAAN on the two projects.
By the said agreements, the two projects were to be completed in 2008 but FAAN graciously extended the construction period to July, 2009 yet it said Bi-Courtney still failed to complete the two projects at the expiration of the extended period.
By that termination order, the premises, in respect of the two projects, have reverted to FAAN automatically, in line with the terms of the agreements, a statement on Tuesday by FAAN said.
The statement by the General Manager, Corporate Communications of FAAN, Yakubu Dati, recalled that Bi-Courtney forcefully and illegally acquired part of the premises belonging to the Murtala Mohammed Airport,
School, Ikeja to construct the conference centre, despite loud protest by the pupils and parents of the school.
The statement said: “It was these protests that stopped the company from acquiring the entire premises of the school, which Bi-Courtney had planned to take to another location in Lagos.”