Kano: KACCIMA denies sale of Ado Bayero Mall

The President of the Kano Chamber of Commerce, Industries, Mines and Agriculture (KACCIMA), Usman Darma, has dismissed reports circulating on social media that the land housing the popular Ado Bayero Mall, former Shoprite complex in Kano has been put up for sale, describing the claims as “false and misleading”.

Addressing journalists, Darma said the chamber was surprised by the rumours, stressing that the land on which the mall stands belongs solely to KACCIMA and is not for sale.

“We are here to send a clear message to the entire business community in Kano State and beyond that this land is not for sale. It belongs to the chamber and, by extension, the entire business community,” he said.

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According to him, the chamber leased about 11 hectares of land to Alpine Investments under a Build, Operate and Transfer (BOT) agreement for the development of the Ado Bayero Mall. He explained that the lease agreement, which spans between 30 and 35 years, has so far run for about 18 to 19 years.

Darma noted that under the existing arrangement, Alpine Investments pays ₦5 million annually for the 11 hectares, while an additional one hectare used as a playground attracts ₦1 million per year. He described the amount as inadequate, especially considering the size and commercial value of the property.

“These people are sitting on over 10 hectares of land in a prime area and paying only ₦5 million annually. Meanwhile, they are generating hundreds of millions, if not billions, yearly. There is a need to review the agreement because there is no justification for the current payment,” he said.

He further revealed that when the agreement was initially signed, it had a dollar component but was later converted to naira without any upward review over the past 18 years.

The KACCIMA president clarified that while the structure of the mall was developed by Alpine under the BOT arrangement, the land remains the property of the chamber. At the end of the agreed period,
ownership of the facility is expected to revert fully to KACCIMA.

He also disclosed that the chamber has the original certificate of occupancy in its custody, insisting that no legitimate sale could take place without it.

“If the certificate is in our custody, who is going to buy the land without it? There was never a time that the chamber mandated anyone to sell this land,” Darma stated.

On the relationship between the chamber and Alpine Investments, Darma said there had been no major disputes aside from the recent concerns over lease payments. He expressed optimism that any disagreement would be resolved through negotiation, arbitration, or renegotiation if necessary.

He added that prominent stakeholders, including the Kano State Government, members of the Emirate Council, and notable investors such as T.Y. Danjuma, are involved in the Alpine project, describing them as individuals with strong ties to Kano.

Darma, however, vowed that the chamber would investigate the source of the sale rumours and take legal action against those responsible.

“Whoever sent this message is a criminal. We will not take it lightly because such misinformation can create unnecessary tension within the business community,” he warned.

He reaffirmed that KACCIMA remains committed to promoting and protecting businesses in the state and has no intention of liquidating assets that belong to its members.