By Damiete Braide
For nearly two decades, the African Artists’ Foundation (AAF) in Lagos, known for fostering African art, faces turmoil as Keystone Bank forcefully seizes its office, leading to the relocation of the renowned Lagos Photo Festival. Despite legal disputes revealing the bank’s questionable actions, AAF remains locked out, sparking concerns in the Nigerian art community and leaving its future uncertain.
In a shocking turn of events, the African Artists’ Foundation (AAF), a pivotal non-profit organisation in Lagos promoting African art, is grappling with a disruptive takeover by Keystone Bank. The forceful possession of their office, located on No 3B Isiola Oyekan Close, Off Adeleke Adedoyin Street, Victoria Island, Lagos, has led to the relocation of the esteemed Lagos Photo Festival, a significant annual international photography event.
Despite AAF’s substantial contributions to the art scene, the organisation finds itself in a legal quagmire with Keystone Bank, which claims ownership through a court order relating to the estate of the late Dr. Ime Umanah, the landlord. AAF’s founder and director, Azu Nwabuogu, expressed frustration at the humiliating eviction in October 2020 and subsequent challenges in retrieving valuable assets, including artworks donated by artists, collectors, and enthusiasts.
The dispute revolves around an alleged debt owed by the Umanah family, AAF’s landlords, with Keystone Bank claiming ownership of the property. However, court proceedings revealed that the Umanah family not only didn’t owe the bank but were, in fact, in excess credit. The court dismissed the bank’s suit, condemning it for abuse of the legal process.
Despite AAF’s attempts to reclaim the property and seek a refund of the N600 million purchase price, Keystone Bank remains uncooperative. The situation has compelled AAF to consider relocating to another African country, a decision reached during an extraordinary meeting of the board of trustees.
A media parley held last week at Bogobiri House, Ikoyi, Lagos, highlighted the gravity of the situation. AAF, represented by Azu Nwabuogu, Inyene Nta (daughter of late Dr. Ime Umanah), Wuyi Ogunyinka (counsel to the estate), Ibrahim Abubakar (legal officer, AAF), and Olayinka Sangotedo (general manager, AAF), appealed to the media for support.
Inyene Nta emphasised that her father had settled all debts with a N1 billion payment, and it was Keystone Bank that owed the late Dr. Ime Umanah. Wuyi Ogunyinka presented court rulings contradicting Keystone Bank’s actions, urging the media to objectively follow the case to expose the bank’s callous behavior.
With the foundation’s assets still locked in the disputed property, AAF is left with no choice but to operate from Cotonou in Benin Republic. The organisation now shifts its focus to intellectual development and training within the visual art industry.
As the saga unfolds, Azu Nwabuogu implores the government to intervene and prevent such actions by banks from tarnishing the nation’s image and undermining the efforts of hardworking Nigerians. The fate of AAF hangs in the balance, and the art community watches anxiously as legal battles and public awareness campaigns unfold.