Category: Business

EcoBank Slams Suit On Otudeko’s Son As 6.3 Billion Shares Showdown Degenerates

Gbenga Adeoti

  EcoBank Plc has asked the Federal High Court in Lagos to temporarily restrain Otudeko Obafemi Adedamola, the son of Oba Otudeko, and others, including the Corporate Affairs Commission (CAC), from selling or transferring 6,314,116,229 Barbican Capital Limited shares in FBN Holdings. This request was made in a motion accompanying the bank’s main suit, both instituted by Kunle Ogunba (SAN) against Otudeko, Barbican Capital Limited, Honeywell Flourmills of Nigeria Plc, Siloam Global Services Limited, Oyeleye Foluke, FBN Holdings Plc, CAC, and the Nigerian Stock Exchange (NGX). The bank’s lawyer alleges…

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Shell, Renaissance Hit With Lawsuit Over $2.4 Bn SPDC License Transfer

Precious Ibekwe

“Other defendants are the AGF; the NNPC Ltd; the NUPRC; and the Ministry of Petroleum Resources.” Details of the unravelling legal fireworks with case number FHC/L/CS/651/2025   A suit seeking to stop Shell Petroleum Development Company Limited’s deal transferring its mining licence worth $2.4 billion to Renaissance African Energy Company Limited has been filed at the Federal High Court in Lagos. The Incorporated Trustees of Human Environmental Development Agenda sued Shell Petroleum Development Company Limited, Renaissance African Energy Company Limited, the Federal Republic of Nigeria, and four others over the…

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‘One Post, 1.7 Million Views,’ Platforms Africa’s Ratings Soar

Damilola Olonade

. ‘You have the most creative content presentation in the industry. Your Integrity, unique journalism style make me re-read stories I have read on other channels,” What Editors, Scholars, Professionals, Others Wrote On strides by the leading media group . ‘Our Readers, Our unique Strength,’ Team Lead Platforms Africa dedicates feats to readers, Speaks on how media group was established at Wits University, South Africa   The ratings of Platforms Africa, leading Africa-focused media group, have soared with a single post hitting a new celling of 1.7 million views. The…

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Mele Kyari Sacked, Ojulari In As Tinubu Stirs Major Shakeup At NNPC

Ganiyu Amodu

  President Bola Tinubu has sacked the board of the Nigerian National Petroleum Company (NNPC) including its Group Chief Executive Officer, Mele Kyari and board chairman Pius Akinyelure. Platforms Africa reports that the sack was announced by presidential spokesperson Bayo Onanuga in an early Wednesday morning statement posted on X. “President Tinubu removed all other board members appointed with Akinyelure and Kyari in November 2023,” Mr Onanuga wrote. Mr Kyari was first appointed NNPC chief by former President Muhammadu Buhari but was reappointed in 2023 by President Tinubu. A Child…

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FULL LIST: 58 Nigerians Who Died With Hidden, Unclaimed Properties In UK

ADEOLA YUSUF

  . ‘One of Them Died As Far Back As 1995,’ UK Govt Begins Search for Relatives, List Estates as “Bona Vacantia,” meaning unclaimed for a certain period and are now the property of the Crown   The UK government has released a list of unclaimed estates belonging to individuals from different countries who died in the UK, including 58 Nigerians. Platforms Africa reports quoting the Gov.uk that these estates have been listed as “Bona Vacantia,” meaning they have been unclaimed for a certain period and are now the property…

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450,000 Barrels Daily TNP Shut As Explosion Rocks Nigeria’s Largest Oil Pipeline 

Efe Wellington

‘Few Days After Takeover,’ details of incident on the 180 kilometers (112 miles) long asset newly bought by Renaissance Africa Energy Company Limited as part of SPDC acquisition    An explosion has struck the Trans-Niger Pipeline, one of Nigeria’s largest oil pipelines, causing significant disruption and raising concerns about environmental damage and economic losses. The incident, which occurred in Rivers State, is the latest in a series of political crises plaguing the country’s oil infrastructure. The explosion, reported late Monday evening sent plumes of thick smoke into the sky, visible…

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‘Show Your Plant’s Building Approval To Public,’ Amosun Fires Back At Dangote

Gbenga Adeoti

    “There could not be two governments in a state, and Dangote, therefore, could not operate above the law or under a different set of laws,” Full statement Ogun State ex-governor sent to Platforms Africa   Former governor of Ogun State, Ibikunle Amosun, has fired back at Business Mogul, Aliko Dangote over his allegation that Amosun demolished his cement plant on Itori Ogun state twice. Amosun in a statement his media aide, Lanre Akinwale, made available to Platforms Africa challenged the billionaire “to avail the public of the requisite…

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How Amosun Frustrated Itori Cement Plant Project – Dangote

Gbenga Adeoti

  “He demolished the plant, twice”   Africa’s richest man, Aliko Dangote, has revealed how the former Ogun State Governor, Ibikunle Amosun, frustrated works at the Itori Cement plant project. Dangote, during a revisit to the project site, said Amosun demolished the plant, twice, hence the company abandoned the project. He reaffirmed his commitment to reviving the Dangote Cement Plant in Itori, Ogun State, citing Governor Dapo Abiodun’s intervention as the key reason for the project’s resumption. My Mother Carried Me For Three And A Half Years; My Birth Was…

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SPDC Renamed After 46 Years As Renaissance Seals $2.4Bn Acquisition

ADEOLA YUSUF

Historic: Everything Tony Okonedo said about the deal that led to the re-christening of SPDC, the pioneer of petroleum industry in Nigeria + NEW NAME   Shell Petroleum Development Company of Nigeria (SPDC) has been renamed Renaissance Africa Energy Company Limited after 46 years of operation in Nigeria. Platforms Africa reports that this was sequel to the acquisition of the company’s entire stake by Renaissance Africa Energy Holdings today, Thursday, March 13, 2025. Renaissance announced that it had successfully completed the landmark transaction between itself and Shell for the acquisition…

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FACT CHECK: Did NNPC Suspend Naira-For-Crude Sale With Local Refiners?

Ganiyu Amodu

      Words like suspension and termination have been used by a section of the media to describe a six-month contract billed to expire at the end of March 2025     A section of the Nigerian media was on Monday awashed with a report that the Nigerian National Petroleum Company Limited (NNPC Ltd) has suspended the naira-for-crude contracts with local refineries. The report published by BusinessDay and a few online newspapers claimed that the said decision affected refiners, “including Dangote Refinery and other private operators.” The decision, which…

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