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Composite image of LandWey Investments Limited CEO Olawale Ayilara (right) and Fisayo Soyombo, the founder and Editor-in-Chief of the Foundation for Investigative Journalism |
The Foundation For Investigative Journalism (FIJ) says it will not retract its published story against LandWey Investment Limited and dared the company to go to court.
FIJ had in its report of 30 June, 2023, alleged that LandWey
had been running fraudulent real estate “ponzi scheme” designed to defraud the
unsuspecting investors of their hard-earned funds.
But LandWey, through its lawyer, threatened to sue FIJ and
its publisher, Fisayo Soyombo for N1 billion over libelous and unfounded
publications against the company and its chief executive officer.
LandWey, in a letter dated June 30, 2023 by its legal
counsel, Godwin Omoaka (SAN), said the news and tweets by FIJ and its
publisher, Fisayo Soyombo, that it has been running fraudulent real estate
“ponzi scheme” designed to defraud the unsuspecting investors of their
hard-earned funds, while also trying to intimidate journalists and stifle the
freedom of the press, were false.
However, FIJ, in a letter dated 4 July and addressed to
LandWey’s legal counsel, Omoaka, said it affirmed the truth of its publications
referenced in “your letter and denies the allegation that the statements
published are defamatory, libellous or maliciously made.”
The letter signed by its counsel, Abimbola Ojenike, said
FIJ’s publication was based on a groundswell of customer complaints regarding
non-delivery of off-plan residential developments within
contractually-stipulated timeframe, unlawful exploitation of consumers,
unconscionable price reviews and reselling of properties previously allocated
to customers to new buyers at higher value and similar unethical business
practices.
“As a medium focused on investigative journalism and social
justice reporting, FIJ identifies the significant public interest in exposing
the unjust, exploitative and unethical business conducts based on the factual
accounts of Landwey’s customers and its independent inquiry which validates the
allegations against Landwey.
“Accordingly, there is no basis for liability and FIJ does
not admit any liability for the sum of N1billion or any sum whatsoever.
Furthermore, FIJ does not retract or apologize for factual and truthful
publication otherwise the foundation of press freedom and serious public
interest issues implicated in the publication would be undermined,” the letter
said.
According to FIJ, “should you proceed to litigation on account
of the alleged libel claim, we have our Client’s instruction to receive all
originating processes on its behalf. FIJ also accepts your letter dated June
30, 2023 received via Whatsapp as due compliance with the pre-action protocol
of the High Court of Lagos State (Civil Procedure) Rules 2019.”
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