Ogun State Land Scare! Government Blackmails Estate Developers, Land Owners

Last Monday, 8 June, 2009, the Ogun State Bureau of Lands and Survey, under the insignia of the State Government, had caused the publication of what it described as a “Final Warning” ostensibly directing the attention of individuals and corporate bodies to activities of estate developers and promoters in about 14 locations in the state [...]

Politicisation of Nigeria’s Capital Market …Why AP Shareholders will not get justice over Share Manipulation

There are growing worries by capital market stakeholders and, especially, …continues here.

World’s Richest List: Why Mike Adenuga, Jimoh Ibrahim didn’t make it

In a direct confirmation of Fortune&Class Weekly news report of last week, the Forbes magazine, the United States of America’s compiler of the annual list of the world’s richest, Mr. Femi Otedola, Chief Executive Officer of Zenon Oil and Gas and largest shareholder of African Petroleum joined Alhaji Aliko Dangote on the world’s richest [...]
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OTEDOLA, DANGOTE’S RELATIONSHIP GETTING MESSIER: AP N40BILLION PUBLIC OFFER MONEY TRAPPED IN BANKS

When a very top official of the National Accounting Standard Board told a gathering that a total N40billion being part of the money raised during the public offer of African Petroleum is trapped in some Nigerian banks, then there must be a cause for concern.
The offer which had closed since September last year has [...]
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2009 Forbes Profile of Billionaires: Femi Otedola joins Dangote on World’d Richest List

Nigeria may have the honour of having two of its citizens listed in the 2009 edition of the annual Forbes list of the world richest. Fortune&Class Weekly can report that Mr. Femi Otedola, Chairman of African Petroleum Plc and Zenon Oil and Gas would join Alhaji Aliko Dangote, the first Nigerian on the list [...] [...]

Jimoh Ibrahim barred from meeting Yar’Adua

Despite the seeming success of Barrister Jimoh Ibrahim, the Group Managing Director of NICON Insurance Plc, he seem to be having challenges breaking the barrier of easy access to relate with the President, Alhaji Umar Yar’Adua.

This became evident during the inauguration of the new Ghanaian President in Accra, Ghana.

Ibrahim was not privileged like Femi Otedola [...]

Heavy Debt Burden: Banks suspend funding for Dangote’s cement project

A heavy debt burden and the anticipation of high profile competition for the share of the Nigerian cement supply side from Femi Otedola may have compelled Alhaji Aliko Dangote to call off investments with intent to expand production lines in his many cement manufacturing plants and to build new ones. Sources in the banking [...]

FINALLY, OTEDOLA BREAKS MONOPOLY WITH 2MILLION TONNES OF CEMENT

The persistent rise in the price of cement, an essential building material, may be heading for a reverse with the Federal Government approval granted Femi Otedola to import 2million tonnes of cement into the country.
The cement which a source close to the CEO of Zenon Oil and Gas said will soon land in Nigeria, [...]

DANGOTE FIGHTS BACK

Businessman extra ordinaire, Alhaji Aliko Dangote has engaged his lawyers to sue some media houses for maligning his name and putting him in bad light before the public.
 
Dangote’s determination to hit at these media houses under the soft sell genre is because he believes that the tilt of the story over his recent face-off with [...]

CHEVRON CORPORATION BACKS OUT OF SALE OF CHEVRON NIGERIA TO DANTATA

When on 19 September, 2008 the media relations unit of Chevron Corporation USA circulated a press announcing that its subsidiary, Chevron Africa Holdings Limited had agree to sell Chevron Nigeria Holding to Corlay Global SA, the press release carried a caveat in compliance with the Cautionary Statement Relevant to Forward-Looking Information for the Purpose of [...]