AMCON Takes Over Jimoh Ibrahim Properties, Freezes Bank Accounts Over N69bn Debt

AMCON to float international airline with Arik, Aero planes

The Asset Management Corporation of Nigeria (AMCON) has taken over more than 10 properties belonging to the billionaire businessman and Chairman of Global Fleet Group, Jimoh Ibrahim, and his accounts frozen over a debt of N69.4 billion. The seizure followed an order by Justice R.M. Aikawa of the Federal High Court in Lagos. The information was contained in a statement by Jude Nwauzor. AMCON’s Head of Corporate Communication, “Based on the order of the court, AMCON took possession of top properties belonging to the businessman on Wednesday, through its debt…

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Transcorp Acquires Afam Power

Transcorp Acquires Afam Power

Deal To Deliver Significantly Increased Access to Electricity in Nigeria Represents Further Example of Transcorp’s Mission of Improving Lives and Transforming Nigeria Transcorp Afam 8: Driving Increased Access to Electricity: l-r: Managing Director/CEO, Transcorp Power Limited, Mr. Christopher Ezeafulukwe; President/CEO, Transcorp Plc, Mrs. Owen Omogiafo;  Chairman, Transcorp Plc, Mr. Tony Elumelu; Vice President, Professor Yemi Osinbajo; Minister of Power, Mamman Saleh; and  Director General Bureau of Public Enterprise(BPE), Mr. Alex Okoh, at the signing ceremony of the sale of FGN’s 100% equity  in Afam Power Plc/Afam Three Fast Power Limited to Transcorp…

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World Business Investment Forum Appoints Dr. Freeman Osonuga As Nigerian Representative

Dr. Freeman Osonuga

The World Business Angels Investment Forum (WBAF), an affiliated partner of the G20 Global Partnership for Financial Inclusion (GPFI), has appointed Dr. Freeman Osonuga, Chief Executive Officer of Adloyalty Business Network (AdloyaltyBN), as the senator representing Nigeria. As announced by Baybars Altuntas, the chairman of the World Business Angels Investment Forum, Dr. Freeman will represent Nigeria at the Grand Assembly of the World Business Angels Investment Forum. The inclusion of Nigeria in WBAF provides a wide range of opportunities for Nigerian startups, scale-ups, and high growth businesses, and opens doors…

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Cathedral Church Recovers Property After 99 Years

Cathedral Church of St Jude Ebute Metta

The Cathedral Church of St Jude Ebute Metta in the Diocese of Lagos Mainland yesterday recovered possession of a large expanse of land is leased to a Lebanese-owned firm G Ambrosini & Co on October 21, 1920 (99 years and 10 months ago). The property, better known as Ambrosini Properties on No. 102 Borno Way, Ebute-Meta, Lagos, was returned to the church officials by the Assets Management Corporation of Nigeria (AMCON). The Nation reports that AMCON had taken possession of the land sequel to a Federal High Court order, after…

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House Rent Agreement, C Of O, Others To Carry Stamp Duty – FIRS

FIRS

The Federal Inland Revenue Service (FIRS) says henceforth, stamp duty will be paid on house rent and Certificate of Occupancy (C of O) in line with its new adhesive duty.  Mr. Abdullahi Ahmad, the FIRS Director, Communications, and Liaison Department made this statement in Abuja. Ahmad urged Nigerians and other residents to ensure that documents pertaining to rent or lease agreements for their homes or offices, C of O as well as a list of other common business-related transaction instruments were subject to authentication with the new FIRS Adhesive Stamp duty.…

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Real Estate Growth Dropped By 1.39% in Q1 2020 – NBS

Real estate service growth fell from 2.51 percent in the fourth quarter of 2019 to 1.12 percent in the first quarter of 2020. The National Bureau of Statistics (NBS) disclosed this in Nigeria’s gross domestic report for the first quarter of 2020. It stated that in nominal terms, “Real estate services in the first quarter of 2020 grew by 1.12 percent, lower by -9.15 percent than the growth rate reported for the same period in 2019 and lower by -1.39 percent compared to the preceding quarter. “Quarter on quarter, the…

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Fire Razes Over 400 Shops In Anambra Market

Anambra Oil Theft, Gov. Obiano Alerts FG Theft

Over four hundred shops have been destroyed by fire at the Old Motor Spare Parts Market, popularly called Mgbuka Obosi, in Idemili North Local Government Area of Anambra State. During a visit by Channels Television crew on Saturday, a mammoth crowd gathered at the scene, lamenting the devastating incident, as well as questioning the competence of the market security guards. They noted that the guards should have taken proactive measures that would have cut down the extent of damage in the market. Although the cause of the fire has yet to be…

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Ondo Govt Closes Schools For Three Weeks Over Flooding

Ondo State Governor, Rotimi Akeredolu, has directed public primary and secondary schools submerged by flood in the state to proceed on three weeks holiday from Monday. The state Commissioner for Information and Orientation, Mr Donald Ojogo, in a release on Saturday, said the directive followed flash floods which affected most flood-prone areas in the state, especially the riverside communities. The reports shows that heavy rainfall in the state on Monday and Tuesday resulted in floods which submerged some schools in the riverine areas of the state. According to the commissioner, the…

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Building Collapsed In Magodo Lagos Killing Family Of Four

Four persons have been confirmed dead after a house built on a hill collapsed on another in the Otun Araromi area of Isheri – Magodo Lagos. The General Manager, Lagos State Emergency Management Agency, Femi Oke-Osayintolu, confirmed the incident. He said the incident occurred on Saturday morning, adding that the bodies recovered include a mother and her three children. According to him, efforts are ongoing to find more people believed to be trapped in the rubble while relevant agencies are working to ascertain the cause of the collapse. The building…

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Desarrollar Partners with Top Firms to Improve Real Estate Solutions.

Managing Director FBNQuest Trustees, Mr. Adekunle Awojobi, Lead Partner Desarrollar Group, Mr. Ikemefuna Mordi and Managing Director/CE UTL Trust Management services Mrs. Olufunke Aiyepola at the official all Parties signing ceremony between Desarrollar group, a leading Lifestyle and Real Estate solutions company and its partners in Lagos recently.   Desarrollar Limited a lifestyle and leading real estate solutions company in Lagos, Nigeria has partnered with Union Trustees Limited, First Bank Trustees Limited and Banwo & Ighodalo and The Lodt Legal Partners to improve real estate services and solutions.

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