Real Estate News

A former Managing Director of the Aeronautical Engineering and Technical Services Ltd (AETSL), retired Air Vice-Marshall (AVM) Tony Omenyi, has told a Federal High Court, Abuja, yesterday, that monies paid into his account by a contractor were refunds and not bribe. Omenyi is standing trial for allegedly receiving over N136 million kick-back from Syrius Technologies and Sky Experts Ltd., engaged ...

Asset Management Corporation of Nigeria (AMCON) is battling Union Home over property allegedly belonging to the former minister of aviation, Senator Stella Oduah-Ogiemwonyi. AMCON has through a court order seized several properties belonging to companies like Sea Petroleum Oil and Gas Group Limited and placed them under receivership. The properties in question are E29 and ‪31E Fat Oboh street‬ Millennium ...

The Ogun State Commissioner for Works and Infrastructure, Olamilekan Adegbite, has attributed the success recorded by the State government in infrastructural development, to the detailed and voluminous blueprint of government before it came into office. Adegbite who stated this in a statement by the spokesperson in the Ministry of Works and Infrastructure, Mr. Ayokunle Ewuoso, said the governor had constituted ...

Some traders in food items from northern Nigeria are counting their losses after a trailer conveying farm produce from the area to the southern part of the country had a head-on collision with a Toyota Camry car along Lokoja expressway. The incident, which occurred in the early hours of Sunday, was reportedly caused by a deep pothole, which the truck ...

The leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has faulted the N11.5 billion infrastructure vote cut in the 2018 budget by the National Assembly. The oil workers argued that the action portends a negative socio-economic impact on national and regional road projects like the Lagos-Ibadan expressway, the second Niger Bridge, the East-West road as well ...

The Pro-chancellor and Chairman of Council, University of Lagos (UNILAG), Dr. Wale Babalakin (SAN), has said the government has no money to build infrastructure. Babalakin said the notion that Nigeria is a wealthy country is false, adding that the only solution to the country’s infrastructure deficit is for the government to create an enabling environment for private investors to provide ...

Justice Sadiq Umar of FCT High Court, Maitama, Abuja, on Wednesday declined to admit as exhibit the statement made to the Economic and Financial Crimes Commission by a former Chief of Naval Staff, retired Vice Admiral Usman Jubrin. Jubrin is standing trial alongside retired Rear Admiral Bala Msheila, retired Rear Admiral Shehu Ahmadu and Harbour Bay International Limited, in an ...

The total recoveries by the Asset Management Corporation of Nigeria (AMCON) since its inception in 2010 till December 2017 rose to over N731 billion, the Managing Director/Chief Executive Officer of the agency, Ahmed Kuru, said on Thursday. Mr. Kuru who disclosed this in a statement sent to the spokesperson of AMCON, Jude Nwauzor, said a bulk of the recoveries were ...

Ladi Lawanson, the Lagos State Commissioner for Transportation, on Friday said the construction of 13 bus terminals across the city would be completed before December. Lawanson gave the assurance in Lagos at the opening of “Construction Summit 2018’’ organised by the Faculty of Environmental Sciences, University of Lagos. Its theme is: “Smart Infrastructure for Sustainable Competitiveness’’. He said that not ...

Osun State Governor, Ogbeni Rauf Aregbesola has lauded the managerial prowess of the Board and Management of Omoluabi Mortgage Bank Plc., for recording astronomical growth across all lines in the 2017 financial year. The governor described the performance in the year under review as heroic, noting that the bank has made tremendous progress, resulting in payment of dividends to shareholders ...