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

Volume II, Issue 20

Volume II, Issue 20

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 where real estate development seems to be intense. The Bureau of Lands and Survey described the activities of the estate developers as illegal.

The second of such publication in two weeks, the last of the same half page public notice, did get the attention of the target population it was intended for; a hail of panic seized the community of estate developers and subscribers to the former virgin lands belonging to Ogun State but which have found new attraction in value because of their proximity to Lagos State. As affected estate developers became restless, so were subscribers, they became distressed. (Read More)

BGL still upset with underwriting AIT, Honeywell public offers

It is just as well that the Securities and Exchange Commission has decided to adopt the recommendation of the Oladotun Sulaiman’s Nigeria Capital Market Reform Committee on the reversal of compulsory underwriting of public offerings.

BGL Securities Limited, one of Nigeria’s lead issuing houses and brokerage firms, is said to still be smarting from the downside effect of underwriting two public offerings last year. BGL Securities was part of the underwriters of the public offering of Daar Communications and Honeywell.

Others –

Losses, Debts Force Sale of Zain

Transcorp To Lose Hilton Hotel, Abuja

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IDCL Promotes Biodun Osinibosi

IDCL, a leading company in the below the line service sub sector of the marketing industry is quietly succeeding with old clients and winning fresh big accounts.

Recently, it added MTN and Guinness to its fast growing clientele with the hope and capacity to do even more.

Humbly winning airs is Akin Ogungbe, the managing director of IDCL, who is also the publisher of News Star.

Recognising the contributions of Biodun Osinibosi, Ogungbe’s major points man, he elevated him to the office of the General Manager.

Osinibosi submits, “I take this as a challenge to even do more. I am encouraged.”

RUMBLE AT MTN

There was tremor, no, shake up particularly at the sponsorship department of the leading telecommunication company, MTN.

Key officers including Osaze Ebueku were seconded to another department for reasons described by our source as classified.

The new officers have since taken up the challenge and mandate to ensure that MTN gets more than a fair share of the highly competitive industry.