Business
Gen. TY Danjuma Buys 300-Year-Old London Hotel For N1.1 Billion
Former Minister for Defense, General Theophilus Danjuma, has procured Kings Arms Hotel, a 300-year-old motel alongside London’s Hampton Court Palace, former home of Henry VIII for N1.1 billion.
Lodging is ready to open soon after refurbishment, with rooms costing around 250 pounds every night. Visitors can eat on a customary passage in the six eateries, a reference to the ruler’s numerous spouses, or snatch a half quart on the porch, reports Bloomberg
The 80-year-old Nigerian is worth $1.2 billion, as indicated by the Bloomberg Billionaires Index, with his family office dealing with a segment of that riches, frequently through the relaxed property, for example, the 14-room lodging.
“We never will in general, take a gander at trophy resources,” said Hannatu Gentles, the second of Danjuma’s five kids, who is also the chief operating officer of his London-based family office.
“We’re not going to make a beeline for Mayfair to purchase a 15 million-pound apartment basically on the grounds that we are a yield business.”
Apart from the U.K., Danjuma possesses real estate in California and have purchased and sold property in Singapore. Their family office additionally directs private equity investments, trust reserves and a venture capital that backs family-run art and movie companies
Meanwhile, the Danjumas possess in excess of 30 properties around the world, filings show.
“We put resources into real estates in different wards, however, in the U.K. we generally thought we should stick to regions that we know,” Gentles said.
Her dad purchased a living arrangement in Singapore years back, “and it appeared well and good at that point to get some more,” she stated, adding that they’ve long sold the properties due to tax law changes.
Notwithstanding, the Kings Arms Hotel, the Danjumas have created private properties this year in Esher and Wimbledon.
They likewise own a boutique lodging in Lagos, serving hamburger carpaccio and lobster bisque is one of three feasting zones and showing works from the family’s art firm.
Modibbo Kawu, the DG of the National Broadcasting Commission, NBC, has been put on suspension by President Buhari. This came following his corruption charges by the Independent Corrupt Practices, ICPC.
This development was confirmed by Armstrong Idachaba, NBC’s Director of Broadcast Monitoring. Further, the most senior director in the commission has been directed to take over from Modibbo Kawu.
Modibbo Kawu is currently facing a 12-count charge bordering on money laundering, abuse of office, and misleading a public officer with the intent of defrauding the government.
So, this contravenes Section 26 (1) (c) of the Corrupt Practices and other Related Offenses Act 2000 and punishable under Section 19 of the same Act.
Beisdes, Modibbo was first arraigned in May 2019 over the alleged misappropriation of N 2.5 billion for the digital switch-over (DSO) program of the government.
The popular Mile 12 market in Lagos is currently engulfed in fire. This is coming barely seven days after a similar fire happened at another market in the Ajah area of Lagos
The fire at the Mile 12 market started in the early hours of Thursday 13th February. A report has it that the fire is still raging as the officials of the fire service are working to put out the fire.
Recall that the Mile 12 market is known for the sales of perishable items like fruits, vegetables and many more.
An early morning fire on Tuesday at the Atakumosa Central market in Ilesa, Osun State has destroyed several properties worth millions of Naira.
Information gathered revealed that the fire started around 1 am and continued for over two hours before it was put out at about 3:45 am by the efforts of the fire service in Osun State.
Besides, it was also discovered that the inferno started without knowing the cause and its intensity could not be contained by the initial set of people available.
Several shops were destroyed as it spread from one shop to another. Osun State Police PR, Folasade Odoro confirmed the incident and said the police deployed men to the scene to prevent looting of shops by miscreants.
However, she said the value of destruction cannot be ascertained but said many shops were razed by the fire.
