High Street

At two separate court ordered Extra-Ordinary General Meetings held in Sokoto, shareholders of Cement Company of Northern Nigeria (CCNN:NL)  and BUA Group’s Kalambaina Cement Company voted overwhelmingly to approve the merger of the two cement companies, pending final regulatory approval. In what is said to be the biggest corporate merger transaction of 2018 in Nigeria, the shareholder approval (pending final regulatory approvals) sees Cement Company of Northern Nigeria merge with one of BUA Group’s cement companies, Kalambaina Cement Company and further solidifies BUA Group’s drive to being Nigeria’s second largest producer of cement by volume in 2019. With this shareholder approval, the new CCNN will have a total installed capacity of 2million metric tonnes and is set to be the dominant cement player in the key regional markets in Northern Nigeria with almost unfettered access to key export markets in West Africa. According to Abdul Samad Rabiu, Chairman, Cement Company of ...

The Association of Nigerian Electricity Distributors, ANED, has lent its voice to the ongoing row between the Governor of Edo State, Godwin Obaseki and the management of Benin Electricity Distribution Company (BEDC) Speaking in response to media queries, ANED's Executive Director for Research and Advocacy, Chief Sunday Oduntan, in a statement, said the umbrella body was displeased by the recent treatment of BEDC's Managing Director by the Governor during a visit by the House of Representatives Committee on Power to Edo state. Governor Obaseki walked the MD out of his office during the meeting for, according to him, "...failing to meet obligations to electricity consumers in the state. "What is most unfortunate about the whole episode is that there is a misunderstanding about how the power sector works and this has led to the Governor's unfair expectations from BEDC. I cannot also rule out with the upcoming elections and everyone looking for scapegoats, t...

*But understand this, that in the last days there will come times of difficulty. For people will be lovers of self, lovers of money, proud, arrogant, abusive, disobedient to their parents, ungrateful, unholy*- 2 Timothy 3:1-2. - Wole Arisekola The holy Bible is an encyclopedia of knowledge and true reference to our past, present and future. When you look at the above verse , You will agree with me that the ugly events that enveloped Akwa Ibom State in the last two weeks can be attributed to the youthful exuberance of the state governor and his lieutenants.That is the catastrophic result of promoting an individual above his competence. When something goes wrong, you do not rush to blame others. Maturity is the ability to think, speak and act your feelings within the bounds of dignity. When Governor Udom Emmanuel threw decorum to the gutters by referring to his former boss, Senator Godswill Akpabio as a man of no second address, one needs to ask him how come Senator Akpabio has no ...

Nigerian Businessman and oilman, Mr. Walter Wagbatsoma, who his friends and associates say was wrongly convicted for money laundering in the United Kingdom has been suddenly released from prison barely one year into his three years and six months prison sentence. He was convicted in January 2018 but had appealed his conviction. Wagbatsoma, 47, the Managing Director of Ontario Oil and Gas Ltd, according to prison officials Monday that he could go home. “They just told him he was a free man and that he should buy his ticket and return to Nigeria if he wanted to… He was perplexed and shocked because it was unexpected… You know he has been saying he was wrongly convicted,” a source close to him said via telephone. It was not clear why he was released abruptly as at the time of writing this report. THEWILL had in 2016 reported how the oil trader sourced and bought foreign exchange from a money dealer in Dubai through an intermediary without doing due diligence. It turned out the ...

After treading a path laden with scorn and sleepless, tear-filled nights and harrowing days, Toyin Olusanya eventually arrived her fairy-tale promised land with the legitimisation of her union with Bola Onadele, the dashing Managing Director of FMDQ OTC PLC, a foremost financial services company. Notwithstanding her position as wife number two, she proudly parades herself as Mrs Oluwatoyin Olusanya-Onadele to underscore the legitimisation of her whirlwind relationship with Onadele popularly known as Koko in Corporate Nigeria. Pray, who wouldn’t? In her late 40s, Toyin is the younger sister of Boye Olusanya, former chief executive officer of 9mobile and now Managing Director of Alheri Mobile Services Limited, a subsidiary of the Dangote Group. She was equally a force in the banking industry, rising from the lower rungs of Union Bank Plc to become Head, Investment and Private Banking. She had previously served as Head, Treasury and Investment Banking at Broad Bank Nigeria Plc bet...

The attention of the Senator, representing Ikot Ekpene Senatorial District, Godswill Akpabio, has been drawn to a statement credited to the. governor of Akwa Ibom State, Mr Udom Emmanuel alleging the involvement of the former Senate Minority Leader in the ongoing crisis in the state House of Assembly. According to information made available to newsmen through the senator spokesman; Anietie Ekong, stated that ‘Ordinarily, the distinguished Senator wouldn’t have bothered to respond to the spurious allegation because it is contrived to malign his integrity and stands logic on its head. However, it follows a clear pattern of crying wolf by the Peoples Democratic Party (PDP) since the Senator who was the live wire of the party in the State left the party to join the All Progressives Congress (APC.) The strategy by the PDP and its chieftains is that anything and everything must be pinned on Senator Akpabio. In his desperation to shop for who to blame and pass the buck, Governor Udom E...

Ahead the official inauguration of Alhaji Isiaka Adegboyega Oyetola as the new Governor of Osun State on Tuesday, 27 November, 2018, the Speaker of the Lagos State House of Assembly, Rt. Hon. Mudashiru Obasa has sent a message of congratulation to the incoming Governor, his predecessor, Ogbeni Rauf Aregbesola and the All Progressives Congress  (APC) for the victory at the polls. A statement by Obasa's Chief Press Secretary, Musbau Rasak, on Monday stated that the Lagos Speaker also congratulated the APC National Leader, Asiwaju Bola Ahmed Tinubu not only for the victory at the Osun governorship poll, but also the recent electoral victories recorded at the various bye-elections that took place in the country.  APC won at the bye-elections that took place at Irepodun/Isin/Okeero/Ekiti Federal Constituency of Kwara State; Kankia/Kusada/Ingawa/ Constituency of Katsina State; and Toro Federal Constituency of Bauchi State. "I want to congratulate the l...

  Famous actresses Chidinma and Chidiebere Aneke (the Aneke Twins) have urged students to learn from their own experience of surmounting the odds of rejection by family and friends to become an authentic success story. Addressing the students, who attended Promasidor “Harness Your Dream” career guidance initiative at Queen’s School, Enugu on Thursday, the twins said that they did not lose the focus of fulfilling their dreams despite the deprivation that followed the death of their father in their formative years. Now the promoters of Aneke Foundation, which supports humanitarian activities, the twins recalled how they hawked around Enugu in order to support their mother in funding their education. They eventually graduated from the University of Nigeria, Nsukka with degrees in Mass Communication and Banking and Finance, but admitted that they would have chosen courses that suited their natural flair if they had been exposed to career guidance. Chidiebere said...

A former Minister of State for Defence, Senator Musiliu Obanikoro, his wife and children have recovered three properties worth about N500m from the Economic and Financial Crimes Commission, SUNDAY PUNCH has learnt. The properties include four terrace houses located at 44 Mamman Kotangora Crescent in the highbrow Katamkpe Extension area of Abuja; a parcel of land in Guzape District and a duplex at Olori Mojisola Onikoyi Avenue, Ikoyi, Lagos. Our correspondents, who visited the properties on Thursday, observed that the erstwhile red paint inscription, ‘EFCC, Keep Off!’ had been wiped off on the walls of the buildings. Obanikoro, who defected to the All Progressives Congress from the Peoples Democratic Party about a year ago, was under investigation along with his two sons for alleged money laundering. The ex-minister was accused of receiving N4.7bn from the Office of the National Security Adviser under the leadership of Col. Sambo Dasuki (retd.) in 2014. About N2.2bn out of...

The Speaker of Lagos State House of Assembly, Rt. Hon, Mudashiru Ajayi Obasa, has described Devolution of Powers a major way to bring about rapid development and growth in the country. Obasa made this known on Friday, in his opening address at the ongoing consultative meeting on the Review and Harmonisation of the Standing Orders and Rules of Business of the State Houses of Assembly in the South West Region holding at Park Inn Hotel, Abeokuta. In his words, “while the oneness of Nigeria is non-negotiable, one thing we will need to speedily work on is the issue of devolution of power vis-à-vis fiscal federalism. Nigeria is made up of diverse ethnic groups which have similar goal of moving Nigeria to the Next Level but at times have different ideas on how to achieve it. No doubt, centralization of power at the Federal level as it exists currently in Nigeria is not the most ideal approach to accomplish genuinely necessary rapid development. Devolution of power ...

STERLING BANK PLC is fast becoming safe haven for fraud as depositors have continued to lose huge sums of money to the new generation bank. This time, the management of the Abubakar Suleiman-led bank is currently in a fix on how to deal with cases of alleged fraud levelled against its branch on Iju Road, Iju, in Ifako-Ijaiye Local Government Area of Lagos State. Documents in our possession revealed that twice within a period of five months, millions of naira have been withdrawn from saving accounts with numbers 0000886683 and 0068955741 belonging to Providence Heights Secondary School Staff Welfare Association. According to investigation conducted by our correspondent, on Thursday, 6 July 2018, a sum of N1,200, 000 was stolen from the saving account number 0000886683 by fraudsters probably working in tandem with some staff of the bank. The leadership of the association reported the theft to the bank management. This newspaper further learnt that after the official complain...

The immediate family of late Edo billionaire and owner of Aideyan Brothers Bookshop, Late Pa Samuel Aideyan is currently in pains as one of the children of the deceased, Amadin Aideyan in connivance with First Bank of Nigeria has depleted the family’s wealth of over N250million naira, SocietyGists.com reports. In the report, the online news platform  revealed that this calculated and fraudulent acts of Amadin Aideyan has left a once-thriving and largest bookshop on the West African coast, desolate, stripped and financially decapitated. Pa Samuel Aivinhenyutomwen Aideyan established what was then known as Aideyan Brothers Bookshop in 1953, in Benin City, then a part of the old Western Region. In its own sector of business, Aideyan Brothers Bookshop earned its leading position along the West African sub-region due to its large stock of diverse and affordable office, educational and printers’ supplies and sports goods. The late S.A. Aideyan incorporated the thriving busines...

After surviving the trouble of assuming office without confirmation by the National Assembly, Lanre Gbajabiamila faces another major threat. Societynow.ng learned the Director General at the National Lottery Regulatory Commission is facing a fresh plot to unseat him. Emerging details have it that Lanre’s fresh crisis comes, as a result, of a recent action he took. “The repercussion is what is threatening his seat” a source stated. Societynow.ng gathered that the relative of federal lawmaker Femi Gbajabiamila, who got Senate approval to occupy his current position 18mothst after he was appointed, went against the interest of brewery giant – Nigerian Breweries Plc. The NLRC D.G reportedly shut down the offices and premises of Nigerian Brewery PLC in direct violation of ongoing judicial process against the reason he premised his action. A judicial process that his predecessors obeyed societynow.ng learned. Societynow.ng gathered Gbajabiamila’s action has sparked off a wa...

Frank Edoho, the much-loved presenter has been announced as the anchor of the much anticipated Lagos Boat Race, Lagos All Sail. The 3-day event scheduled for Thursday, December 13 to Saturday, December 15 holds at renown BICS garden jetty, Lekki Phase 1, Lagos State. According to chief Organiser, Maleek Shehu of Father's House Foundation, the project aimed at water sports, from boat racing, Jetski racing, water-hover-board to surfing and other water-related stunts is a never before seen. The Father's House Foundation boss provided insight into the three days of All Sail with the break down "it's scheduled to hold for a period of three days, commencing from the 13th of December 2018 with a stakeholders' powerpoint presentation of waterways challenges and opportunities. 14th of December is the main boat race day/ boat show with musical performances by prominent musical stars. Finally, 15th of December is planned for the presentation of award-winning teams ...

While it may be impossible to gauge the soul-deep grief and visceral sense of loss being experienced by Pastor Idowu Iluyomade, the flambouyant pastor of Redeemed Christian Church of God, City of David parish, Lekki, Lagos, over the failure of Governor Akinwunmi Ambode to secure a second term ticket, what is not in doubt is that the influential cleric must have wished that he had a higher level of grace and clairvoyance to have been able to foretell the future. Neither he nor Ambode foresaw the fate that has befallen the  hardworking and dedicated governor’s political trajectory. Pastor ID, even more than the governor’s aides and associates, and relatives and beneficiaries, is worse hit by the rotund governor’s failure to secure the backing of his godfather, Asiwaju Bola Ahmed Tinubu, for a second term in office, leading to a disastrous defeat at the governorship primaries. Like mere mortals, he was banking on Ambode’s re-election to consolidate on their burgeoning busi...

For many years, Nigeria’s marketing communications industry has been highly competitive and segmented; run by a proliferation of companies playing individually in niched parts such as advertising, public relations, digital marketing, experiential marketing, media buying and so on. With advertising alone recording above-the-line spend of N97.9 billion in 2015, and digital marketing’sestimated revenue at $2 billion in 2015, it is safe to say the industry is undoubtedly one of Nigeria’s top service industries. With shifting client-consumer preferences, consistent changes in technology, and disappearance of big budgets, Marcoms in Nigeria faces major challenges like storytelling and extreme segmentation with template solutions being offered on a day-to-day basis. Few companies such as Livespot Group, owned by Deola and Dare Art Alade, are able to apply empathetic storytelling, futuristic strategies, and offer holistic services under one body. The company, from inception in 2013, ha...

Trading house Aiteo, which had prospered under Goodluck Jonathan’s tenure, has recently had to start making hefty repayments to creditors that had helped the firm buy the giant OML 29. Aiteo founder and CEO, Nigerian businessman Benedict Peters, is using this as an opportunity to reorganise the group. Banks push for payments To buy the 45% stake of OML 29 from Shell, ENI and Total for a total $2.58 billion, Peters borrowed nearly $2 billion from various Nigerian banks. Peters forked out the rest of the sum from his own fortune, largely built on extremely lucrative swap contracts won when Diezani Alison-Madueke was minister of petroleum resources. When the firm had trouble meeting its repayments in 2016, according to our sources it renegotiated an 18-month grace period with the banks that ended in June this year. Since that date, Aiteo has had to pay out heavy sums and is understood to be trying to negotiate another arrangement. The oil firm had bought OML 29 when crude oil pr...

The MD/CEO of Zenith Bank, Peter Amangbo, has charged the players of the country’s U-17 team, the Golden Eaglets, to be more disciplined as their talents alone cannot take them to the pinnacle of their career. Amangbo made this appealed during the visit of the Golden Eaglets and the Nigeria Football Federation Executive board members led by its president, Amaju Pinnick, to the headquarters of the bank on Friday. According to him, the future is bright for the boys but without discipline, hardwork and dedication to their work, it might be difficult for them to get to the top as he also adviced them to do away with some vices that might cut short their career. “I am delighted to have everyone here and I wish to thank the NFF for the great job they have been doing in the past few years,” Amangbo said. “Today (Friday) is not about the NFF but the footballers (Golden Eaglets). From this moment, they are now members of the Zenith Bank family as we have opened an account ...

The Special Presidential Investigation Panel For Recovery of Public Property said on Sunday that it had  arrested the governorship candidate of the All Progressives Congress in Imo State,  Hope Uzodinma, at the Nnamdi Azikiwe International Airport in Abuja. Chairman of the panel, Chief Okoi Obono-Obla, said in a short message to our correspondent on Sunday that the panel arrested Uzodinma, the senator representing Imo West Senatorial District, for the failure of his company to execute a contract of $12m for the dredging of Calabar channel. According to the panel’s chairman, the contract was awarded by Nigerian Ports Authority. Obono-Obla said Uzodinma had been evading arrest for about a year but was arrested at about 8.20pm at the Abuja airport. The statement read, “This evening, at about 8.20pm, operatives of the Special Presidential Investigation Panel For Recovery of Public Property at the Nnamdi Azikiwe International Airport arrested the APC governorship candid...

The Lagos State Police Command has said that its investigation into the murder of the late Chairman of Credit Switch Technology, Opeyemi Bademosi, has revealed that his cook and prime suspect, Sunday Anani, allegedly stabbed his boss to death in his room at his Parkview Estate residence, in the Ikoyi area of Lagos State. The state Police Public Relations Officer, CSP Chike Oti, in a statement on Sunday, said Anani, single-handedly stabbed his boss to death with a kitchen knife, while attempting to rob him. Oti stated that the 22-year-old suspect, who took advantage of his boss wife’s absence from home, allegedly broke into Bademosi’s bedroom to perpetrate the crime. He said, “The journey that eventually ended the life of Opeyemi Bademosi, an Ondo State indigene, began in the deceased’s hometown, Ondo town, on Thursday, October 25, 2018, when one Kofi Friday, 27, returned from Togo to Nigeria and called his compatriots, including the murder suspect, Sunday Anani, 22, to his h...

The presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has alleged that on his return from Dubai, he was unusually searched by security agents with the aim of intimidating him. Abubakar returned to Nigeria in the early hours of Sunday from Dubai, where he had been on holiday after winning the party’s presidential primary. The primary was held in Port Harcourt, Rivers State on October 7 and 8. Atiku, who arrived in Abuja in a private jet, was said to have been accompanied by some of his aides and children. While in Dubai, he held meetings with members of his campaign team led by the Director-General of the PDP Presidential Campaign Organisation, who is also the President of the Senate, Senator Bukola Saraki;  National Chairman of the party, Prince Uche Secondus; and his (Atiku’s) running mate, Mr Peter Obi, among others. While Atiku was away, the ruling All Progressives Congress called on security agencies to probe him over his trip. Atiku clai...