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Kogi Government Claims Obajana Plant Ownership, Dangote, MAN Kick

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The Kogi State Government has said that it will be ready to enter into negotiations once the Dangote  Group is ready to admit that the Obajana cement plant does not belong to it.

Governor Yahaya Bello stated this on Thursday while presenting documents to back the state’s claim to the ownership of the plant.

The documents are from the report of the Specialised Technical Committee on the Evaluation of the Legality of the Alleged Acquisition of Obajana Cement Company Plc by Dangote Cement Company Limited.

The detailed report, which was submitted to Governor Yahaya Bello last month, was presented to the public by the Secretary to the State Government, Dr. (Mrs) Folashade Ayoade.

According to her, the claimed transfer of Obajana to Dangote Industries Limited was “invalid, null, and void.”

Ayoade said in the report that three certificates of occupancy for Obajana Cement Company Plc, which was solely owned by the Kogi State Government at the time, were used to obtain a loan of N63bn by Dangote.

She said the committee, in view of its findings, had recommended that Kogi State take steps to recover the Obajana Cement Company from the Dangote Group.

The committee, chaired by the Secretary to the State Government, also recommended that the “Kogi State Government should take steps to recover all accrued dividends from profits made over the years, including accrued interest on the same.

“Kogi State Government should take steps to cancel the existing seven Certificates of Occupancy in the name of Dangote Cement Company.”

“Agreement between Kogi State Government of Nigeria and Dangote Industries Limited, dated 30th July 2002 and supplemental agreement dated 14th February 2003, as contained in Exhibit 71 of the Judicial Commission of Inquiry Report, purporting the transfer of Obajana Cement Company Plc to Dangote Industries Limited, are all invalid, null and void.

“There is no evidence of consideration paid by Dangote Industries Limited to the Kogi State Government from the alleged transfer of Obajana Cement Company Plc and no dividend was paid to the state from the profits realised from the inception of Dangote Cement Company Plc to date.”

On his part, the Speaker of the Kogi State House of Assembly, Matthew Kolawole, said the acquisition of the Obajana Cement Company by Dangote was without the resolution of the House of Assembly, which rendered the process null and void.

“It is clear that you cannot sell a state government property of any form without the resolution of the Kogi State House of Assembly.

“All the transfer process of the share capital to Dangote from Obajana by the previous administration was without any law backing it by the state House of Assembly,” Kolawole stated.

In his remarks, Governor Yahaya Bello said the decision to seal the plant came on the back of several petitions by members of the local community who felt marginalized by the company.

The governor, however, said that the state was open to discussions once Dangote Company Plc was ready to come to dialogue.

“We received several petitions from the general public over this particular subject matter. In the past five to six years, all efforts to sit with the proprietors of the Dangote Conglomerate failed.

However, the Manufacturers Association of Nigeria condemned the invasion of the Dangote plant by officials of the Kogi State Government.

MAN, while reacting to Wednesday’s faceoff between the security outfit of the state and workers at the Dangote Cement plant, described the invasion as illegal and a breach of the fundamental human rights of one of Nigeria’s foremost corporate entities.

BIG STORY

As WAFCON Kicks Off Today, The Falcons Of Nigeria Will Win Their 10th Title — By Seun Oloketuyi

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The energy in Morocco is electric. From the bustling streets of Rabat to the buzzing stadium corridors in Casablanca, a continental celebration of football has begun. The 2024 Women’s Africa Cup of Nations, delayed until 2025, kicks off today — and as the anthem rings out to open the tournament, one team walks into the spotlight with more than just ambition. The Super Falcons of Nigeria are here to reclaim what they’ve long considered theirs: the WAFCON crown.

Nine-time champions, decorated with decades of dominance, Nigeria’s women’s team has been the pride of African football. But this time, there’s something different. It’s not just about titles or rankings. It’s about redemption. Two years ago, the Falcons fell short, narrowly edged out of the final by host nation Morocco and forced to watch South Africa take the throne. That sting hasn’t faded — it’s fuel.

The players know what’s at stake. Asisat Oshoala, now playing for Bay FC in the U.S. after an illustrious run with Barcelona, returns with fire in her eyes and form in her boots. Alongside her, a younger generation is rising — bold, unshaken, hungry. In training, the tempo has been sharp. In their voices, confidence. In their hearts, belief,She is expected to inspire the younger generation lead by the team Captain Rasheedat and the new blood of Alozie,Ashley,Esther and Toni Payne plus Ayinde a lot is expected.

Now led by new head coach Justine Madugu, following the departure of Randy Waldrum, the Falcons are embracing a refreshed style of play — blending tactical discipline with expressive, fearless attacking football. Madugu has not only brought structure but also instilled belief, trust, and a renewed fighting spirit,Many including me are still stunned Monday Gift is not in this team but yet we are behind them.

The road won’t be easy. Morocco is loud and proud on home soil. South Africa still glows from their 2022 triumph. Zambia arrives with momentum. But even in the shadows of rising stars, Nigeria still stands tallest. When the Super Falcons walk out tomorrow against Tunisia for their opening match, they’ll carry more than just jerseys on their backs. They’ll carry history. Legacy. And expectation.

This is a team that has shaped the narrative of African women’s football for decades. Their dominance isn’t luck. It’s culture. Discipline. Passion. Every touch of the ball, every sprint, every tackle will be driven by the memory of past glories — and the desire to write a new chapter.

As the tournament kicks off today, the message from Nigeria is clear: the Falcons are flying again. Not with arrogance, but with assurance. And by the time the final whistle blows in Rabat on July 26, they believe they’ll be right where they belong — lifting the trophy for a record 10th time.

Africa is watching. Nigeria is ready.

I Totally believe Falcons will come home with the 10th Wafcon

  • Seun Oloketuyi the producer of Flying with the Falcons

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BIG STORY

“Adron Homes Made My Dream Come True” — New Homeowner Shares Inspiring Testimony

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For many Nigerians, the dream of owning a home often feels out of reach, clouded by financial limitations, uncertainty, and broken promises. But for Engr. & Mrs. Taiwo Ademola, that dream has become a beautiful reality, made possible by Adron Homes.

Speaking proudly from the comfort of his newly completed home in one of Adron’s thriving estates in Shimawa, Ogun State, Engr. Ademola shared his joy and fulfillment at finally becoming a landlord.

“When I thought about owning a home, it felt like a far-off dream,” he recalled. “But Adron Homes changed everything. Their flexible installment plan gave me the confidence to start. Today, I stand here as a proud homeowner. For anyone still doubting, Adron Homes is real, and they are here to stay.”

The Ademolas’ new home, now dedicated and celebrated, is a symbol of stability, dignity, and the fulfillment of a long-held dream. Their success story is a powerful reminder of Adron Homes’ mission to make quality, affordable housing accessible to every hardworking Nigerian, regardless of financial background.

In his congratulatory message to the family, Sir Aare Adetola EmmanuelKing, Chairman/CEO of Adron Group, expressed his delight at yet another fulfilled homeowner.

“At Adron Homes, our vision has always been to make home ownership possible for every Nigerian, and I am glad we are living up to this vision” he stated. “Every key we hand over is a step towards fulfilling that vision”.

He welcomed them into the family, describing this feat as the foundation of new beginnings and joyful memories.

Adron Homes has become synonymous with reliability, integrity, and innovation in Nigeria’s real estate sector. With flourishing estates across Shimawa, Lagos, Abuja, Nasarawa, Epe, Badagry, and beyond, the company continues to redefine affordable luxury and accessible home ownership nationwide.

As more Nigerians like the Ademolas proudly unlock the doors to their dream homes, one truth remains undeniable, with Adron Homes, dreams are not just imagined; they are built, one family, one house, one community at a time.

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BIG STORY

UBA, Wema, GTB Resume International Transactions On Naira Cards After Years Of Suspension

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Three commercial banks in Nigeria have revealed the recommencement of international transactions on their naira cards. In separate messages to customers, the United Bank of Africa (UBA), Wema Bank, and Guaranty Trust Bank (GTB) confirmed that the service is back on their naira cards. This change comes about three years after several banks halted international transactions on naira debit cards.

In a recent notice to customers, UBA stated the resumption is part of its ongoing commitment to delivering seamless and improved banking experiences. “In line with our continued commitment to providing you with seamless and enhanced banking experiences, we are pleased to inform you that all UBA Premium Naira Cards, including Gold, Platinum, and World variants are now enabled for international transactions,” the message read. “This means you can now use your Premium Naira Card for everyday payments, online shopping, POS, and ATM transactions across the world, with more ease and flexibility. If you haven’t used your card recently, now’s a great time to rediscover the convenience and prestige that comes with being a UBA premium cardholder.”

In its own statement, Wema Bank informed customers they could now “pay in dollars” using their naira cards. “Your Wema Naira Mastercard just went global! Now you can pay in dollars on all your favourite international platforms; Amazon, eBay, AliExpress? Netflix, Spotify, YouTube,” the bank noted.

In an email to customers, GTB explained that users can spend up to one thousand dollars every quarter with its naira card worldwide. “We are pleased to inform you that you now have a quarterly limit of $1,000 on your GTBank Naira Card to pay for all your favourite things anywhere in the world,” it said. “Withdrawals at ATMs Abroad: $500 quarterly. Online and POS Transactions: $1,000 quarterly. Kindly note that the quarterly limit of $1,000 covers all transactions including ATM cash withdrawals abroad, purchases on international websites, POS payments outside Nigeria, and more.”

WHY BANKS ARE MAKING THE SHIFT

Ayokunle Olubunmi, head of financial institutions ratings at Agusto & Co, explained that the improved liquidity in the foreign exchange (FX) market encouraged banks to restart global transactions with their naira cards. “The moderating premium on the parallel market transactions and the reduced arbitrage opportunities is also responsible for the decision,” he said.

Charles Sanni, chief executive officer of Cowry Treasurers, told TheCable that the smaller spread between the official and parallel market rates likely influenced the move. He added that interest rates are very high in Nigeria, which discourages borrowing to speculate on foreign exchange. “The naira has also continued to appreciate against the other major currencies of the world. More so, there has been increased diaspora remittances based on the new policy of the Central Bank of Nigeria (CBN) on opening of accounts for non-residents, particularly Nigerians in diaspora,” he explained.

Sanni also pointed to renewed confidence in FX management by the federal government and the CBN, noting improvements in fund transfers and capital repatriation. He mentioned that factors such as an improved credit rating for Nigeria, the clearance of FX backlogs, a “new trading platform, increase in oil prices from geopolitical conflicts, and banks capitalisation” also played a role.

Between July 2022 and January 2023, several other banks had also temporarily stopped international transactions on ATMs and POS channels. The pause was due to severe FX scarcity, which posed a risk to vital sectors of the economy.

In July, Standard Chartered Bank halted international transactions on its naira visa debit card. First Bank of Nigeria (FBN), on September 21, 2022, announced it would stop international transactions on its naira Mastercard. Three months later, Guaranty Trust Bank (GTBank) suspended global payments on its naira Mastercard, and Zenith Bank followed suit on January 9, 2023.

Flutterwave, Eversend, and other fintech platforms also suspended their virtual card services for international transactions.

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