Day: October 19, 2022

Pains, Gains Tales Of Sheraton ‘Sale’

Aliyu Aliyu

Asides the closure of Sheraton Hotel Abuja and the spontaneous protest by workers’ unions, the acquisition of majority stake in Capital Hotel plc, owners of the hotel, by 22 Hospitality Limited, comes with bags of burdens and blessings, reports Platforms Africa’s Ganiyu Amodu    The Sheraton hotel union members have staged a protest against Marriott for the non-payment of their severance packages as agreed with Marriott and for other issues bordering on safety standards as a result of the degraded state of the hotel. It is understood that the appalling…

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Customs Comptroller slumps, Dies At Aminu Kano Airport

ADEOLA YUSUF

The Comptroller in charge of the Trade Facilitation Unit of the Nigeria Customs Service (NCS), Anthony Ayalogu, is dead. Ayalogu died at Malam Aminu Kano International Airport, Kano, after falling ill. In a statement issued by the Customs Public Relations Unit, AA Maiwada, said after Ayalogu became unconcious, he was rushed to the Nigerian Air Force Hospital in Kano where he was pronounced dead. “He was in transit on an official assignment when he suddenly took ill upon arrival at Mallam Aminu Kano International Airport and lost consciousness. “All efforts…

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Cement Giant, Lafarge, Pleads Guilty To Supporting Terrorist Group

Abibat Babalola

The firm agreed to a $777.8m (£687.2m) penalty for payments it made to keep a factory running in Syria after war broke out in 2011.         Lafarge has pleaded guilty in the United States (U.S.) to supporting the Islamic State and other terror groups. The firm agreed to a $777.8m (£687.2m) penalty for payments it made to keep a factory running in Syria after war broke out in 2011. Prosecutors said it marked the first time a company had pleaded guilty in the US to aiding terrorists.…

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Forte Oil Sale: Zenon Gets $19.2m, Wins Arbitration Against Ardova

Efe Wellington

Here is why, how the contractual battle, which started in June 2019 led to one of the major legal fireworks in London Court of International Arbitration (LCIA)   Zenon Petroleum and Gas Limited has won an arbitration case instituted by Ignite Investment Limited in the London Court of International Arbitration (LCIA) over the share purchase agreement (SPA) reached on the sale of Forte Oil Plc to the latter. Precisely, Zenon Petroleum was awarded $19.2 million by the LCIA in the dispute. READ ALSO: 12 Bankers Nabbed For suspected Insider Fraud,…

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