A firm, NASCO Town Limited, has appealed the judgment of the Lagos State High Court voiding the Federal Government’s acquisition of about 292 hectares of land.

It, however, warned members of the public against engaging in any transaction involving the disputed property until the appeal is determined.

The company, in a public notice yesterday, said the judgment delivered in suit No. ID/5709LM/2025 was not final, having exercised its constitutional right of appeal, adding that the matter is now before the Court of Appeal.

The clarification followed media reports of the court’s decision, which declared the Federal Government’s acquisition of the land invalid and awarded damages in favour of the claimants.

NASCO urged residents, tenants, businesses, Free Trade Zone operators, investors, financial institutions and other stakeholders within NASCO Town to remain calm.

It assured them that it would take all lawful steps to protect existing developments and preserve the subject matter of the appeal pending its determination.

The company also cautioned prospective purchasers, developers, estate agents, surveyors, banks and investors against purchasing, leasing, negotiating, developing or otherwise dealing with any portion of the disputed 292.428-hectare property.

According to the notice, anyone transacting with parties other than NASCO over the land would do so at their own risk and subject to the outcome of the appellate proceedings.

NASCO stated that its title is rooted in Federal Government acquisition and lease documents, including Federal Government Notice No. 1138 published in Official Gazette No. 44, Volume 64 of September 8, 1977, and Government Notice No. 1130 published in Official Gazette No. 44, Volume 63 of September 2, 1976.

It, therefore, advised members of the public to verify the official records and obtain independent legal advice before acting on any competing claims to the land.

The company maintained that it respectfully disagrees with the court’s decision and that its appeal raises substantial legal issues relating to government acquisition, limitation of actions, public purpose, possession, compensation, excision and the legal effect of its long-standing title and development activities.

NASCO further stated that the disputed land is fully developed and not vacant, noting that it accommodates residential estates, road infrastructure, Free Trade Zone operations, Free Zone enterprises, transit harbour facilities, workers and significant third-party investments.