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Wema Bank takes over CMB building over unpaid N226.5m debt

Wema Bank

A Federal High Court sitting in Lagos, Southwest Nigeria has granted Wema Bank of Nigeria Plc the power either by itself or through its appointed Receiver Manager to take over and preserve the property of a limited liability company, CMB Maintenance & Investment Company used as security to obtain loan that has not been paid, pending the determination of the ...

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Cocoa farmers urge govt to construct roads in rural areas

cocoa farmers

The Cocoa Farmers Association of Nigeria has called on the federal and state governments in the country to make rural roads in cocoa-producing states in the country motorable, to ease transportation of the produce to the market. The group lamented that the poor and inaccessible road networks were one of the major challenges the farmers were facing, saying there was ...

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Ekiti Assembly urges Fayemi to construct deplorable road, abandoned bridge


The Ekiti House of Assembly has called on Gov. Kayode Fayemi to urgently provide palliative measures to the deplorable Isinbode-Ekiti and Omuo-Ekiti Road and the abandoned bridge linking Itapaji with Iyemero. The Assembly made the call through its unanimous resolution on Tuesday at its plenary sitting presided by the Speaker, Mr. Funminiyi Afuye in Ado-Ekiti. Mr. Oluwajuwa Adegbuyi, (Ekiti East ...

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Man docked for allegedly destroying property worth N160, 000


A 26-year-old unemployed man, Izuchukwu Bertram, was on Tuesday docked in an Ikorodu Magistrates’ Court in Ikorodu, Lagos, over alleged malicious damage. The accused whose address was not provided is charged with willful damage. READ ALSO: Robbery suspect in Ikoyi nabbed for stealing N14m property The Prosecutor, Sgt. Adegeshin Famuyiwa told the court that the accused committed the offence on ...

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NSIA invests N100bn on 3 priority road projects


The Nigeria Sovereign Investment Authority (NSIA), at the weekend said it has so far invested about N100billion on the ongoing construction and rehabilitation of three priority roads in the country. The affected roads according to the Authority include the Lagos -Ibadan Expressway, the Abuja Kano Road and the 2nd Niger Bridge. The investment was in addition to the $11million spent ...

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LASG shuts down Mile 2 to Tincan Island for repairs


The Lagos State Government (LASG) has shut the road from Mile 2 to Tincan Island Port, in the Apapa area of the state. The road was shut to motorists on Monday, June 17, 2019, and the closure would last for 48 hours, a statement said on Monday. The Permanent Secretary, Ministry of Transportation, Dr. Taiwo Salaam, in the statement by ...

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Firm debunks fraudulent mortgage deal allegation


Mortgage The CMB Building Maintenance and Investment Company Limited has disproved the allegations of fraudulently mortgaging homes belonging to Pearl Nuga Park Estate and Pearl Garden Estate situated at Sangotedo Village in Eti-Osa Local Government Area of Lagos. CMB in a statement issued through its counsel, Ifoma Ogoh stated that the said allegations published in Newspapers were false, malicious, and ...

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ICPC begins investigation of N15bn constituency projects in 12 states


The Independent Corrupt Practices and Other Related Offences Commission (ICPC) will on Tuesday commence the first phase of investigation of fraudulent procurement practices in the award of over N15bn contracts for constituency and other projects in 12 states located in the six geopolitical zones of the country. According to a statement issued on Monday by the spokesperson of the commission, ...

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EFCC arraigns man for obtaining property by false pretence


The Economic and Financial Crimes Commission (EFCC), Ibadan zonal office, on Monday arraigned one Paul Afolabi before Justice Patricia Ajoku of the Federal High Court, Ibadan Judicial Division. He was arraigned on four counts bordering on obtaining property under false pretence. Afolabi, who operated through the name William Sharon was arrested in Ibadan by operatives of the Commission after receiving ...

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FG awarded 121 contracts, constructed 1,262 kilometers of road in 3 years – Fashola


Former minister of power, works, and housing, Babatunde Fashola, says the federal govt awarded 121 road contracts and constructed 1,262 kilometres of road from 2016 to 2018. According to Fashola, 277 kilometers of road was constructed, 345km was rehabilitated and 17,749 people were employed in the process, in 2016 alone. The permanent secretary in the Ministry of Works and Power, ...

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