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•Inside story of how court ended bitter love affairs between shipping magnate, Jolapamo, ex-NTA staff, Funke Otti
By Lukman Olabiyi
Is love a scam or does it simply unravel under the weight of money, power and broken trust?
What began as a promising union sealed in romance and optimism has ended in a bruising legal battle that reads more like a script from a high-stakes drama than real life.
At the center of it all: A wealthy couple, a luxury property in Ikoyi, Lagos and hundreds of millions of naira had turned love into litigation.
This is the inside story of how a marriage between two successful individuals, ex-President of the Nigerian Ship Owners Association (NISA), Chief Isaac Jolapamo, and a businesswoman and former staff of Nigeria Television Authority (NTA), Olufunke Otti, spiraled into a bitter courtroom confrontation and how the court ultimately settled the dispute.
In February 2017, surrounded by the quiet elegance of a formal ceremony at the Federal Marriage Registry in Ikoyi, the older Jolapamo and his younger estranged wife, Otti pledged their lives to each other. It was by all accounts, a union built on trust, ambition and shared dreams.
Like many newlyweds, they envisioned a future of stability and prosperity. But unlike most couples, their plans were tied to significant financial dealings and high-value assets.
According Jolapamo, the founding president of the Indigenous Shipowners Association of Nigeria, in the suit he filed against his estranged wife, Olufunke Otti and her companies: CTSR Group Limited and CTRS Properties Limited who were first, second and third defendant respectively, before the Lagos State High Court, the early days of their marriage were marked by mutual plans for a stable future but got twisted within a year.
In his affidavit in support of the suit NO. LD/3034LM/2022, Jolapamo claims that shortly after their wedding, he entrusted his wife, Otti being a younger person with a significant responsibility: To oversee the sale of two vessels—M.T. MOR PROSPERITY and M.T. MOR POWER, belonging to his company, Morlap Shipping Company Limited.
The proceeds, he says, were meant to secure their matrimonial home and provide financial stability for their future. But what was intended as an act of trust became the foundation of his grievance.
Jolapamo alleged that the funds from the vessel sales were used to purchase a prime property located at 23A & B Olusegun Aina Street in Parkview Estate, Ikoyi, Lagos.
However, instead of registering the property in joint ownership or in his name, he claims his estranged wife, Otti secretly acquired it solely in her own name and failed to fully account for the money.
To him, it is more than a financial dispute; it is a betrayal of marital trust.
However, the estranged wife, Otti and her companies who were co-defendants in the suit, in their counter affidavit painted a sharply different picture contrary to the claims of Jolapamo. They denied that any such instruction was ever given by the claimant, Jolapamo.
In their own account, the vessels in question were never under the personal ownership of the claimant but belonged to his company and had already been sold prior to the events described.
More strikingly, the defendants asserted that the claimant himself disposed of the vessels, using the proceeds to settle mounting personal debts.
In the suit, the claimant, Jolapamo in his writ of summons with its accompanying processes sought the following prayers from the court: “A declaration that the Property at Plot 12, Block A5, Parkview Estate, Ikoyi, Lagos; properly described as 23A & B Olusegun Aina Street, Parkview Estate, Ikoyi, Lagos, having been purchased with the proceeds of sale of the claimant’s vessels, is trust property held by the defendants for benefit of the claimant.
“A declaration that the claimant is the beneficial owner entitled to the property at Plot 12, Block A5, Parkview Estate, Ikoyi, Lagos; properly described as 23A & B Olusegun Aina Street, Parkview Estate, Ikoyi, Lagos.
“An order of perpetual injunction restraining the first, and third defendants, their servants, agents and privies from interfering with the claimant’s title and peaceful possession of the property at Plot 12, Block A5, Parkview Estate, Ikoyi, Lagos; properly described as 23A&B Olusegun Aina Street, Parkview Estate, Ikoyi, Lagos.
“An order of perpetual injunction restraining the first, second defendants, their agents, privies and assigns from trespassing on the property situate and lying at Ikoyi Parkview Residential Estate, Plot 12 Block A5 Eti-Osa Area of Lagos State with Certificate of Occupancy No 87/87/1995AA, properly described as 23A & B Olusegun Aina Street, Parkview Estate, Ikoyi, Lagos.
“An order of the court directing the first, second and third defendants to render proper account and refund the sum of Four Hundred and Ten Million, Three Hundred and Forty-Seven Thousand Naira, being the outstanding balance from the proceeds of sale of the two vessels belonging to the claimant.
“An order of the court, directing the first, second and third defendants to remit the sum of Sixty-Three Million Naira (N63,000,000), being the sum of rents received from the tenant, from 2018 to 2021 to the claimant.
“An order of the court directing the 1st, 2nd and 3rd defendants to render accounts and remit all rents collected from the tenant from 2021 and any further sums /rents collected thereafter, with interest at the rate of 18% until the judgment of this honourable court.
“The sum of Fifty Million Naira (N50,000,000.00) as general damages.”
During the trial of the case, the claimant opened its case on January 29, 2025 and testified on behalf of himself. The claimant’s witness statement on oath dated April 30, 2024 and November 29, 2024 were adopted.
The claimant also tendered a total of 12 documents which were admitted and marked as exhibits.
In their own defence, the defendants filed a preliminary objection and also called a sole witness, Dolapo Akinola, who testified on March 17, 2025 and adopted her witness statement on oath, dated March 14, 2025.
The defendants also subpoenaed an operative of the Economic and Financial Crimes Commission(EFCC), Suleima Aminu as defence witness to testify on May 28, 2025 and tendered documents as exhibits.
After close of both parties case and submission of written addresses, the trial judge, Justice O.O Adewunmi Oshun delivered judgment on March 26, 2026.
The court first ruled on the preliminary objection filed by the defendants. The judge in her ruling, dismissed the application for lacking merit.
Ruling on the substantive suit, the trial judge, Justice O.O Adewunmi-Oshin held that civil cases are decided on preponderance of evidence.
The court held that from the evidence led by the claimant, Jolapamo, the case of the claimant is rooted in equity.
The court held that it found the testimony of defendants’ witness, (Dolapo Akinola) largely hearsay and lacking credibility.
It added that the defendants failed to call the estranged wife of Jolapamo, Otti to defend herself and again, the subpoenaed EFCC witness who testified for the defendants merely dumped documents before the court as exhibit without explanation.
In her verdict, the judge held: “The claimant (Jolapamo) has led credible evidence showing the property was purchased with proceeds of his vessels sale, in the total amount of N810,347,000.00 received by his estranged wife, Otti via her company’s account .
“The claimant also proved acts of ownership and long possession (2017–2022). This judgment is entered in favour of the claimant.
“I hereby ordered as follows:
A declaration that the property at Plot 12, Block A5, Parkview Estate, Ikoyi, Lagos (properly described as 23A & B Olusegun Aina Street, Parkview Estate, Ikoyi, Lagos), having been purchased with the proceeds of sale of the claimant’s vessels, is trust property held by the defendants for the benefit of the claimant.
“A declaration that the claimant is the beneficial owner entitled to the property.
” An order of perpetual injunction restraining the first and third defendants, their servants, agents and privies from interfering with the claimant’s title and peaceful possession of the property.
“An order of perpetual injunction restraining the first and second defendants, their agents, privies and assigns from trespassing on the property.
“An order directing the first, second and third defendants to render proper account and refund of the sum of N410,347,000.00, being the outstanding balance from the proceeds of sale of the two vessels belonging to the claimant.
” An order directing the first, second and third defendants to remit the sum of N63,000,000, being the sum of rents received from the tenant, from 2018 to 2021 to the claimant.
“An order directing the defendants to render accounts and remit all rents collected from the tenants from 2021 and any further sums/rents collected thereafter, with interest at the rate of 18% until the Judgment of this honourable court.
And the sum of N5,000,000.00 to be paid to the claimant by the defendants as general damages.
This is the judgment of this court”.
The case underscores how relationships intertwined with significant financial interests can quickly become battlegrounds when trust erodes. It also highlights the judiciary’s role in untangling deeply personal disputes through the lens of evidence and equity.
