Olufunke Otti property dispute ends as Lagos High Court orders return of Ikoyi home and payment of over N470m to ex-husband

The Lagos High Court has ordered Lagos-based businesswoman and former NTA staff, Olufunke Otti, to return a disputed Ikoyi property to her former husband, Isaac Morakinyo Jolapamo, bringing a decisive end to a prolonged legal battle.

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Delivering judgment in suit No. LD/3034LM/2022, Justice Olufolake Olufolashade Adewunmi-Oshin ruled that the property located at 23A and B Olusegun Aina Street, Parkview Estate, Ikoyi, rightfully belongs to Isaac Morakinyo Jolapamo and not Olufunke Otti.

The court directed Olufunke Otti to relinquish the property and further ordered her to refund N410,347,000, representing the outstanding balance from the sale of two vessels.

She was also instructed to pay N63,000,000 in rental income collected between 2018 and 2021, alongside N5 million awarded as general damages.

The Olufunke Otti property dispute stems from the couple’s former marriage, which began after they met at the Mountain of Fire and Miracles Ministries.

Their relationship progressed into marriage in February 2017 at the Federal Marriage Registry in Ikoyi.

During the union, Isaac Morakinyo Jolapamo entrusted Olufunke Otti with the sale of two vessels, M.T. MOR Prosperity and M.T. Power, with clear instructions to use the proceeds to acquire a matrimonial home in Parkview Estate.

Although the vessels were sold for N810,347,000 and the property was purchased, the court found that Olufunke Otti registered the asset solely in her name without her husband’s knowledge.

The dispute escalated after Olufunke Otti reportedly informed Isaac Morakinyo Jolapamo of her intention to end the marriage and asked him to vacate the residence, triggering years of legal proceedings.

The marriage, which had effectively broken down in 2019, was formally dissolved in April 2025. The latest ruling represents a significant legal victory for Isaac Morakinyo Jolapamo, restoring both property rights and financial claims.

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Legal analysts say the judgment underscores the importance of transparency and fiduciary responsibility in marital and business relationships, particularly where significant assets are involved.