By Abubakar Yunusa
Great Nigeria Insurance (GNI) Plc says it does not have an office in the building that was gutted by fire at No.47/57, Martins Street, Lagos Island.
The fire, which broke out on December 24, spread to adjacent structures, including a mosque and a plaza, before emergency responders brought it under control.
In an update on December 25, the Lagos State Emergency Management Agency (LASEMA) said preliminary investigations showed that the fire originated from an apartment on the fourth floor before rapidly escalating to the sixth floor and beyond.
In a statement dated December 26, 2025, GNI clarified its position on the property, expressing sympathy with those affected by the infreno.
GNI said it was granted a long-term lease of bare land at the address by the Shitta-Bey family, which is expected to expire on December 31, 2036.
The company said it erected a 25-storey building on the land for strategic investment purposes.
“It is noteworthy that GNI has since been in court with the Shitta-Bey family on the property because the family instituted three separate suits against GNI at both the Lagos State High Court and the Federal High Court,” the statement reads.
“All the suits were decided in favour of GNI.
“Thereafter, the family filed separate appeals in the Lagos Judicial Division of the Court of Appeal. In the year 2020, during the pendency of these appeals, the Shitta-Bey family, in utter disregard of the court orders in the suits between it and GNI, and during the subsistence of the unexpired leasehold of GNI; resorted to self-help, forcefully entered, and took over possession of the property.
“The Shitta-Bey family also proceeded to lease out the property to tenants without recourse to GNI. responsible (sic) corporate organisation with its cherished corporate image to protect, GNI followed the legal path by approaching the High Court of Lagos State through a trespass action.
“The High Court ordered the Shitta-Bey family to vacate possession of the property and also restrained the family from continuing with further acts of trespass on the property.
“The family, being dissatisfied, appealed against the said ruling of the court.
“In the interim, the substantive suit challenging the family for trespass is still pending at the Lagos Judicial Division of the High Court of Lagos State.
“Consequently, GNI has for over five years been denied physical possession of the property.”
Great Nigeria Insurance said it has no dealings with the management or tenants occupying the building and reassured stakeholders, and customers that the fire incident has not affected its operations.
The company added that it does not maintain any office in the affected building and does not conduct any business activities there.
“Our head office remains at No. 8, Omo Osagie Street, Off Awolowo Road, S.W, Ikoyi, Lagos and we continue to conduct our legitimate businesses therein, and in all our other branches in Nigeria,” GNI said.
