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Monthly Archives: May 2018

Supori community demands justice over demolition of 250 houses


Residents and Landlords Association of Supori Community in Imota Local Council Development Area (LCDA) of Lagos State is asking Mr. Akinwumi Ambode, the Lagos State governor, to look into its case regarding the demolition of over 250 houses on April 5. The placard-carrying protesters numbering over 150 besieged the Lagos State House of Assembly, displaying placards with various inscriptions such ...

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Construction company drags Osun State Government over N1bn debt

construction company

A construction company, Sammya Nig. Ltd., has described the sealing off, of its dockyard by the Osun State Internal Revenue Task Force, as ’embarrassing’. The company in a release signed by its Chairman /CEO, Sammy Adigun, called on the state government to immediately unseal its office and pay up over N1 billion owed it. The state government had listed the ...

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Dangote, Larfarge cement, looking up to investors for growth


Dangote Cement Plc and Lafarge Africa Plc are said to be looking up to investors to help raise capital that will enable the companies to take advantage of proposed infrastructural budgets in Sub-Saharan African countries, including Nigeria. This, they hope, will ensure growth in the sector and overall economic development. Recall that the Nigerian Government had earlier this month passed ...

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LSETF partners developer, Jobberman to create jobs for unemployed youths

unemployed youths

The Lagos State Employment Trust Fund (LSETF) has entered into partnership with Jobberman and American Towers Corporation (ATC), to empower unemployed youths in Lagos State. ATC is one of Nigeria’s leading independent owner, operator and developer of wireless broadcast communication, as well as real estate firm. According to LSETF, the collaboration is in line with its mandate of bridging the ...

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MTN Staff sue firms over alleged land fraud


The MTN Employees Cooperative Society, through its prosecution witness, Cyril Ilok, has sued two of its former staff; Primavera Engineering and Construction Limited and Mabo Dredging Limited; for allegedly defrauding them of some hectares of land, purportedly meant for the development of Yellow Estate Project, Okun Ajah, Lagos. The defendants in the case include: Victor Akintunde, Gani Mustapha, Mutairu Babatunde, ...

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AMCON lauds CBN on new lending policy


The Managing Director of Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, has commended the directive of the Central Bank of Nigeria (CBN) compelling commercial banks to lend the real sector for economic growth. Kuru stated this at the Institute of Directors (IoD) 2018 luncheon held in Lagos. The Managing Director of AMCON also noted that lending to the ...

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NMRC commits to greening Nigeria’s building construction industry


Nigerian building developers have come together to discuss the pathway for a greener Nigeria through the construction industry. Financial institution and mortgage re-finance provider NMRC has pledged to be a leader in pioneering the implementation of EDGE certification in the construction industry. NMRC and the International Finance Corporation (IFC), a member of the World Bank Group, along with the consortium ...

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Stanbic IBTC Pension Managers invests N350bn in equity market to access mortgage facilities

Stanbic IBTC

Stanbic IBTC Pension Managers Ltd. (SIPML) says the company’s Assets Under Management (AUM) presently stands at N2.53 trillion with N350 billion invested in the equities market. Eric Fajemisin, SIPML Chief Executive Officer, stated this at a media conference in Lagos. He said that the company’s AUM was in excess of N2.53 trillion with over 1.6 million retirement savings accounts across ...

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