A high court has ordered the government of Nasarawa State to pay N100 million as damages for demolishing a property belonging to Kinric Construction and Fabrication Company and its affiliate, HARPS Property and Investment Company Limited. Justice D.D Adeck, who gave the order, held that the government was to pay the money for aggravated damages for unlawful termination of contract, ...

The cost of renting a one-bedroom property in the UK has risen to swallow almost half of the average young worker’s take-home pay, according to figures, while those living in London are typically handing over 57% of their monthly wages. The average cost of a new tenancy on a one-bedroom home hit £746 a month in May, taking up 48% ...

A 26-year-old man, Lucky Aigbogun, appeared in an Ikeja Magistrates’ Court on Monday for allegedly attacking his property’s caretaker with a hammer. Mr. Aigbogun, a resident of Shola Martins Street, Agege, Lagos, is facing trial for breach of peace and assault. The prosecutor, Essien Ndarake, a police inspector, told the court that the accused committed the offences on June 1 ...

A leading growth markets investor, Actis, has announced the end of its third opportunistic private real estate fund – Actis Africa Real Estate Fund 3 (ARE3), with commitments totaling more than $500m, exceeding its original $400m target. The team was led by David Morley, Amanda Jean-Baptiste, Louis Deppe and 11 other investment professionals across offices in London, Johannesburg, Nairobi and ...

The United Kingdom Agency for International Development (UKAID) has connected 49,000 homes in Nigeria to solar lighting and power systems between January and March 2016 through a funded initiative, SolarNigeria. The programme, it said, was helping many households and small business entities to access modern, clean, lighting and power at lower cost than kerosene lanterns and small generators.   A ...

The Minister of Finance said the Federal Government plans to relocate some of its Ministries, Agencies and Departments (MDA) into some recovered looted properties. Mrs. Kemi Adeosun said this on Friday in Abuja while briefing newsmen after the Steering Committee of the Efficiency Unit meeting. The News Agency of Nigeria (NAN) recalls that the country’s anti-graft agencies had over the ...

Mortgage brokers and lenders have urged President Muhammadu Buhari to invest the funds recovered from looters in the past government in mortgage financing. The Chief Executive Officer, Institute of Mortgage Brokers and Lenders, Mr. Elisha Jasper, who stated this, said it was imperative to advise the Federal Government on the best sectors to invest the funds. Jasper observed that the ...

The former minister of petroleum resources under the immediate past government, Diezani Alison-Madueke has been reported to be guilty of another offence . This was made known by the Economic and Financial Crimes Commission (EFCC). The anti-graft agency said during its ongoing war against corruption, it discovered that the former petroleum minister is alleged to own an $18m mansion. While ...

The Inspector General of Police, Mr Solomon Arase has commissioned sixty four units of semi detached bungalows named after former IGP Gambo Jimeta Police Housing Estate in Yola, Adamawa State capital. Mr. Arase said the Force is determined in provision of shelter for its workforce, by providing conducive accommodation to the Inspectors and Rank and file who are vulnerable to ...

A Brazilian company is carrying out a trial with drones to reduce property tax evasion in a town in the northeastern state of Pernambuco. The equipment is being used by tax collection agency Crescite, who works on behalf of the local government, to measure properties in the city of Paulista and get information needed to calculate the tax amount for ...