High Street

Cement Company of Northern Nigeria (CCNN) has announced the appointment of Senator Khairat Abdulrazaq-Gwadabe and Shehu Abubakar as Independent Directors and, Abbas Ahmad Gandi as a Non-Executive Director to its board effective July 12, 2018. These appointments were ratified during the company’s recently held 39th Annual General Meeting in Sokoto. Speaking on these appointments, Abdul Samad Rabiu, Chairman of the CCNN Board of Directors, said he was confident the new appointments would bring their wealth of experience and expertise to bear on the affairs of the CCNN board and are in line with the company’s commitment to the best corporate governance practices. According to Rabiu, “I am pleased to inform you that upon the recommendation of the Board of Directors of the Cement Company of Northern Nigeria (CCNN), Senator Khairat AbdulRazaq-Gwadabe and Shehu Abubakar have been appointed as independent directors. Abbas Ahmad Gandi has also been appointed as a Non-Executive Directo...

The Cement Company of Northern Nigeria (CCNN) has recorded gross profit of N3, 223,853‎, 347 after tax and N7, 605, 209, 592 before tax in the 2017 financial year despite numerous challenges. Executive Chairman/CEO of BUA Group, Abdul Samad Rabiu who made this known on Thursday in Sokoto State at the company’s 39th annual general meeting identified shortage of energy as the primary challenge. Rabiu said the company had revenue of N19, 588,260,886 for the 2017 financial year as against N14,087,553,499 recorded in 2016 though cement demand in Nigeria came down to almost 20 percent compared to 2016. Abdul Samad Rabiu who described the revenue increase as the highest in the company’s history said improved Cement prices and efficient cost management were factors that led to the achievement. Rabiu then assured stakeholders of sustenance in the figure and dominance in the home market and also penetration into some key strategic markets. According to Rabiu, “Low Pour ...

Gbenga Daniel, the former Governor of Ogun state has warned against an almost established public mindset – the persecution of the rich, and the attendant celebration of poverty. “Nearly every rich person is viewed as corrupt and stolen government money” the Director General of the Atiku Abubakar Campaign Organisation pointed out and explained that is why someone who could not make a productive venture out of cow business by multiplying his stock over the years can be hailed as a national hero on the premise of honesty. “And that is what has gotten us where we are” the former Governor pointed out. Citing a personal experience, the ex helmsman of Ogun state disclosed because of the generalization that every successful person is corrupt, especially those who served in Government at one point or the other, some went as far as claiming he stole government money to build the private house he erected in the 90’s when he left office as Ogun Governor in 2007!. The much-respected po...

Muiz Banire, a senior advocate of Nigeria (SAN), says he does not need a political job to survive. Banire, a former legal adviser of the All Progressives Congress (APC), said this in reaction to the opposition of the three senators from Lagos state to his appointment as chairman of the Assets Management Corporation of Nigeria (AMCON). President Muhammadu Buhari transmitted the name of Banire to the senate for confirmation. At its sitting on Tuesday, Solomon Adeola, lawmaker representing Lagos west senatorial district, laid a petition signed by two other senators from the state against Banire’s nomination. Adeola had said the letter emanated from their constituents. But Banire said his nomination is not a quota appointment that requires special approval of the senators, adding that he was nominated as a Nigerian because the president has a lot of confidence in him. He maintained that he does not need to occupy a public office to add value to his community and the nation. ...

Benue State Governor, Samuel Ortom formally announced his membership of Peoples Democratic Party, PDP. Ortom also said that the APC ward chairman in the state was “ready to join” him in PDP. He said that he has forwarded the letter of his resignation from the All Progressives Congress to his ward chairman. Ortom was elected on the platform of the ruling APC in 2015. According to his Wiki citation, Ortom had served in different political parties in Benue State, and the parties include the National Centre Party of Nigeria, where he served as State Publicity Secretary.He also served as the State Treasurer of the All People’s Party; and State Secretary as well as State Deputy Chairman of the People’s Democratic Party. He was also Director of Operations of the PDP gubernatorial campaign in Benue State in 2007 and Director of Administration and Logistics of the Goodluck/Sambo Presidential Campaign Organisation in 2011. Ortom was also the PDP National Auditor, before his appo...

According to a detailed report monitored on punchng.com A gale of defection on Tuesday hit the National Assembly with 37 members of the House of Representatives and 14 senators leaving the All Progressives Congress. But President Muhammadu Buhari while reacting to the defection from the APC in the National Assembly said it would not impact negatively on the party. Buhari said this in a statement by his Senior Special Assistant on Media and Publicity, Garba Shehu. Shehu quoted the President as urging members of the APC not to despair over the development which he described as a “seasonal occurrence.” He then wished the lawmakers who left the party well in their future endeavours. The statement read, “President Buhari assured members of the APC of his total support and urged party faithful not to despair but to see the defections as a seasonal occurrence that happens on election eve. “He expressed confidence that no harm or injury will be done to the party and its aspi...

There is fear over the health of one of the nation’s richest men, Otunba Mike Adenuga. The Chairman of telecommunication company, Globacom is said to be intensely battling a tightly under wraps ailment. “It actually isn’t a new thing just that it has become more serious” a source stated. The situation at press time is said to be such that the wealthy Nigerian known as extremely generous to those that catches his fancy does not have the stamina to stay “too long on his feet”. “The information at hand is sketchy but insiders are well aware of the concern” a source disclosed. Those who should know claimed the telltale signs of “something amiss” is apparent for the discerning at the money man’s recently celebrated public outing. Societynow.ng gathered his handlers are naturally striving to keep the situation as shrouded as possible. Very recluse, the billionaire businessman is well known in the matter of keeping things that concern him away from the public eye.

Operatives of the Department of State Services, Economic and Financial Crimes Commission and the Nigeria Police in the early hours of Tuesday blocked the convoy of the President of the Senate, Dr. Abubakar Bukola Saraki, from moving out of his house, which also serves as his official residence. The revelation was made by Saraki’s Special Adviser on International Relations, Bamikole Omisore, via a WhatsApp message he sent to The Eagle Online. Omisore said Saraki had left his residence in Abuja to attend to the invitation by the police but was blocked by several police vehicles at Lake Chad Junction in Abuja. In a personally signed letter, the Inspector General of Police, Ibrahim Idris, had asked Saraki to report to the Intelligence Response Unit of the Police for further interrogation on the robbery incident in Offa, Kwara State. But Saraki said the invitation by the police was a ploy to detain him in order to frustrate the defection of some Senators and members of...

Embattled socialite Ibrahim Egungbohun better known as IBD Dende is a free man again. Sources disclosed to societynow.ng that the socialite regained his freedom from detention last week. "He was released towards the end of last week" a source stated. The toast of musicians of different hues and shades was arrested in the last days of June 2018 and clamped into detention. How Popular Socialite Ibrahim IBD Dende Was Bundled Out Of His Home Into Detention Men of the Nigeria customs service reportedly stormed his Ilaro, Ogun state home over allegations of involvement in the smuggling of arms and ammunition. Revealed! Proof That Gov Amosun Has No Hand In The Arrest Of Big Spender IBD Dende The illegal firearms were reportedly discovered hidden in high-value automobiles Dende’s boys were bringing into the country in his name. His associates at a point scampered underground as investigators went in search of his suspected allies in the smuggling business. Why Big Sp...

But for the last minute cancellation, the shadow election to determine candidate of the All Progressives Congress for the September 22 Osun state gubernatorial election should be ongoing. The exercise was however hastily shifted indefinitely less than 24hours to schedule. This was on the heels of the drama of armed policemen takeover of the state secretariat. And the huge controversy over what voting method to adopt for the shadow election. Rauf Aregbesola, the outgoing Governor all out to install his chief of staff, Gboyega Oyetola as successor is pushing for a throw away of the rules book for a scheme that favours his agenda. Aregbesola is pushing for direct voting as against the all-round recognized use of Delegates. “Direct voting dictates all party members vote and this naturally creates a fertile ground for manipulation for those with deep influence because unlike the numbers of delegates and their identities which is open to all not everybody can really say this ...

Popular gubernatorial aspirant in Osun state Kunle Adegoke has come to tell the world that the planned Osun 2018 governorship primary election is compromised. Speaking with selected media men in Oshogbo the state capital the politician  itemised his grouse with direct method favoured by the leadership of the ruling party. Here is the detail of his resolution... "We understand that the leadership of our party, All Progressives Congress (APC), has declared that the primary election to nominate the governorship candidate in Osun State shall be by direct method in which all card carrying members of the party shall exercise the right to vote. This stance has been laboriously justified by the National Chairman of our party, Comrade Adams Oshiomhole, who canvassed the argument that it is more democratic and cheaper than the ‘money-induced’ process of collegiate method of nominating candidates. However, as sound as the argument is, it is dogged by certain constitutional, legal...

All is set for one of Nigeria’s leading cement producers, BUA Group to commission its USD$350 million Kalambaina Cement Plant in Sokoto State. The plant has an installed capacity of 1.5 metric tonnes per annum and will be the largest single private led investment in the North West, Nigeria. His Excellency, the Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo is expected to commission the plant on Tuesday, July 17, 2018 with State Governors, National Assembly Members, Members of Federal and State Executive Councils, reverend monarchs, Business Associates and Captains of Industries in attendance. The Plant which is part of the company’s expansion plan has a total capacity of 32 megawatts captive power plant, high capacity coal mill, a multi-fuel plant and has the potentials to create about 2,000 employment and 10,000 indirect jobs and also increase the country’s foreign exchange with its 100km and 200km proximity to Niger and Benin Republic respectively....

  OPEN LETTER TO COMRADE ADAMS OSHIOMHOLE OSUN 2018: WHY DIRECT PRIMARY IS UNACCEPTABLE  We have monitored with bated breath the activities of certain individuals within our party frenetically canvassing for the adoption of direct primaries in the nomination of APC candidate for the gubernatorial election coming up on the 19th day of July, 2018. We must directly point out that the agitation is nothing but an effort towards imposing the preferred aspirant of certain leaders of the party and some persons in the government of Osun. The scheme is either to rig the election and/or force an impossibility on the Party so as to impose their candidate. In the first place, it is indisputable that such method of primary election has never been applied anywhere in our Party in any situation where there are more than one person contesting for the ticket of the party. It is certain that a total of 17 persons has been shown to have bought and submitted nomination forms and...

Amid accusations by aggrieved shareholders of attempts to suppress the report of the ongoing forensic audit of its operation, Oando PLC Chief Executive, Wale Tinubu, and his deputy, Mofe Boyo, have been asked to pay Ansbury Investments Inc. about $680 million (about N207.9 billion @ N305.8/dollar). Ansbury was incorporated in Panama as part of a family trust by an Italian-Nigerian businessman, Gabriele Volpi. The three-member London Court of International Arbitration (LCIA) presided by David Midon on July 6 gave the partial award against the two embattled top officials of Nigeria’s indigenous oil company. In the ruling, affirmed by two other co-arbitrators, Marco Frigessi di Rattalma and Harry Matovu, the tribunal upheld Mr Volpi’s application that Ocean and Oil Development Partners (OODP) was indebted to Ansbury by about $600 million (about N183.5 billion). OODP Limited, incorporated in the British Virgin Islands, controls 55.96 per cent equity in Oando PLC through a holding co...

Billionaire Businessman and Chairman of Forte Oil, Mr Femi Otedola has revealed the real reason that he rode in a molue, the popular yellow buses in Lagos. Speaking at the launch of three books by Ovation Publisher, Dele Momodu at the Nigeria Institute Of International Affairs (NIIA), Lagos, Mr. Otedola said he was motivated by two reasons. According to him “Sometime back I had taken a ride on a bus in London, and when some people saw the pictures on my instagram page, they challenged me that I cannot dare do the same in Lagos, as a man who loves challenges, I decided to take it up. The other reason was that I really wanted to go down to the level of the real ordinary Nigerians and see how they commute and live their lives every day. “That ride from Sango Ota was very revealing for me. It exposed the poor state of our transport system and the fact that government has failed in many ways to help the people at the lowest end of the economic ladder. The experience will remain with ...