Bowing Out in Grand Style: Nonny Ugboma and the Legacy of Success at MTN Foundation

Esan Bolaji
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Bowing Out in Grand Style: Nonny Ugboma and the Legacy of Success at MTN Foundation

On Thursday, April 1, while many people around the world were busy pulling hilarious pranks on their family and friends, one of Nigeria’s finest directors, an exemplary business leader and CSR expert, announced that she was moving on from the MTN Foundation after almost two decades of impactful service. Her name? Nonny Patricia Ugboma. And it was not a prank.

Bowing Out in Grand Style Brandspurng Nonny Ugboma and the Legacy of Success at MTN Foundation

Reading through the hundreds of well wishes and goodwill messages that followed her post, it was clear that the erstwhile executive secretary of the MTN Foundation created and sustained an enviable pattern of leadership that is rare and commendable. Little wonder she was named among BusinessDay’s top 50 most inspiring women in 2019.

To adequately appreciate Nonny’s role in helping to position the MTN Foundation and indeed the MTN Nigeria brand as leaders in the CSR space, it is imperative to consider the giant strides of the Foundation during her time.

Bowing Out in Grand Style Brandspurng Nonny Ugboma and the Legacy of Success at MTN Foundation

Riding on its status as the first foundation to be established by a Nigerian telecommunication company, MTN Foundation, the Corporate Social Responsibility arm of leading telecommunications company MTN Nigeria, has in the last 16 years touched lives through its very impactful social investments in education, health and economic empowerment.

Bowing Out in Grand Style Brandspurng Nonny Ugboma and the Legacy of Success at MTN Foundation

From its establishment on May 11, 2005, till now, the Foundation has committed over N22 billion ($66 million) to diverse social development initiatives across 850 MTNF project sites, becoming the leading driver of social investments across the 36 states in the country including the FCT.

The giant strides made by the Foundation and the remarkable transformation of lives seen through its many impactful initiatives are clear indications that the well-being of citizens through thriving communities sit at the top of the Foundation’s commitment all the time.

Led by an independent Board that provides direction and financial oversight, the MTN Foundation has maintained a culture of always making lives better for many within the operating environment.

Through special initiatives such as the rural telephony project in partnership with the Growing Businesses Foundation, the MTN Foundation provided sustainable means of livelihood for rural women through the provision of telecommunications services, serving as the flagship project under its economic empowerment portfolio.

Under the education portfolio, over 60 secondary schools were beneficiaries of ICT laboratories, 24 secondary schools received science laboratories and five universities benefitted from virtual ICT libraries. Noteworthy also is the fact that scholarships were awarded to over 3,800 students in STEM and over 800 blind students in public tertiary institutions across the country.

Through its health portfolio, the MTN Foundation renovated 24 maternity wards, 12 haemodialysis centres and six mammography centres in public hospitals across the country, under a financially sustainable PPP model.

To adequately focus the initiatives of the Foundation, five years ago it streamlined its activities into three major causes that include Mother & Child Health, Youth Development and Arts & Culture. The development saw the successful launch of active interventions to reduce maternal and infant mortality in 2017 and anti-substance abuse amongst the youth population in 2018.

Also, the Foundation’s support of arts and culture has been hailed as a powerful driver for a cultural renaissance in Nigeria.

Perhaps the most visible intervention of the Foundation is the ‘What Can We Do Together (WCWDT) initiative, which commenced in the year of the Foundation’s 10th anniversary, 2015.

The WCWDT initiative is a community-centred “give-back” initiative where community dwellers nominate communities to receive projects by MTNF.

Across 510 communities and in 454 LGAs in Nigeria, community members have benefitted from interventions ranging from solar boreholes, 500kva transformers, supply of required medical equipment & consumables to Primary Healthcare Centres, school furniture and learning materials to public primary and secondary schools as well as household items to orphanage homes.

Nonny Ugboma and her legacy of success

Nonny, as her LinkedIn post declared, had spent 17 years, 11 months and 24 days at MTN starting in the marketing department on April 7, 2003.

According to her, the time spent was filled with success, drama, challenges and impact. Her giant strides in the corporate social investment sector led the MTNF to achieve many laudable feats, earning her a position as one of BusinessDay’s Top 50 most inspiring women in Nigeria in 2019 as well as Board memberships.

Nonny’s dynamic and impactful career spans over two decades cutting across financial services, telecommunications, technology and social enterprise. Apart from her work with MTN Foundation, she was a non-executive director, Asharami Energy (a Sahara Group company), from Dec 2014 to November 2019, member and chairman, Board Audit & Risk Committee, and member, Remuneration and Governance Committee on the board of R.A.K Unity PLC, a subsidiary of the Sahara Energy Group.

Many who worked with Nonny over the years have testified to the perfect manner in which she aligns CSR objectives with business strategic objectives to implement interventions that hugely benefit individuals and host communities alike.

Her exceptional and diverse skill set includes managing stakeholders at different levels of businesses and society, speaking at public engagements and conferences, writing articles relating to developmental and societal issues on multiple platforms and facilitating human-centred design forums for the creation of viable solutions.

In 2020 she added to her credentials by obtaining a Master of Public Administration in Innovation, Public Policy and Public Value (Distinction) from the University College, London. Her other qualifications include Master of Science in International Management, King’s College, London, and Bachelor of Science (Hons) in Accounting and Financial Analysis, University of Warwick.

For all that Nonny stood for at MTN Foundation, she will be greatly missed. However, because she has successfully and consistently proven herself as a shared value enabler and a mission-oriented innovation enthusiast, we can be sure that she will continue to contribute to the developmental agenda globally.

Culled from the Business Day

Rite Foods Seeks Court Order Committing NBC’s MD to Prison

Brand Spur
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Rite Foods Seeks Court Order Committing NBC’s MD to Prison

Rite Foods Limited, a Nigerian Foods and Beverages Company, has filed an application of committal against the Nigerian Bottling Company (NBC) and its Managing Director at a Federal High Court in Lagos, for contempt of court. 

The Rite Foods’ application for committal states that the contemnors, the NBC and its Managing Director (MD), Mathieu Seguin, have disobeyed interim injunctions granted by Hon. Justice Aneke of the Federal High Court on 9th February 2021. 

This is in accordance with the case of trademark infringement and passing-off of its Predator energy drink on the mark of Rite Foods’ Fearless Energy drinks, with the likely intent of confusing consumers to make the wrong choice.

Trademark Infringement: NBC Sued over Trademark infringement Activity, Likely to Confuse Consumers, Applicant Alleged

rite foods bigi cola wars brandspur nigeria

In the application for committal, which was published in the ThisDay and Guardian Newspapers of April 6, 2021, the plaintiff, Rite Foods is seeking an order committing the contemnors to purge themselves of the contempt of court. 

The court papers filed by Rite Foods through its lawyer, Muyiwa Ogungbenro of Olajide Oyewole LLP, shows that the court would be moved at the instance of Rite Foods for an order committing the contemnors to prison for disobeying a court order.

According to the application of committal in both national newspapers, NBC and its MD are restrained from promoting or using any material for its Predator energy drink in a manner that infringes or passes off Rite Foods’ Fearless energy drinks. 

The documents also state that NBC and its MD are in breach of the court order for failing to remove from the public domain, promotion materials already released including those released through Taaooma.

It further mentioned that NBC’s boss is responsible for the company’s breach of the court orders, as Rite Foods alleges that Seguin has the power to command its obedience. 

On Form 48 of the Federal High Court, as published on Friday, March 19, 2021, in ThisDay and Guardian Newspapers, there was a notice of consequences of disobedience of the order of the court issued to the NBC’s MD and ex parte order restraining the company from promoting or using any sales promotion material for its Predator energy drink in a manner that infringes or passes off or that is capable of infringing or passing off the plaintiff’s Fearless energy drink, until the interlocutory application for an injunction is determined. 

In suit No: PHC/L/CS/92/2021, the plaintiff, Rite Foods Limited, alleged that NBC has infringed on its trademark over its Predator energy drink, with a lion insignia in resemblance of the mark on its Fearless energy drinks. 

The alleged trademark infringement, according to Rite Foods, has damaged its goodwill and it is seeking reliefs which include injunctions and damages for its loss. 

And according to the provision of the Trade Marks Act, Cap T 13, Laws of the Federation of Nigeria 2004 and the Trademark Regulations 1990, the alleged infringement is against the holder’s right of Rite Foods Limited, as the exclusive owner of the mark for identification of its products within the country. 

However, investigation reveals that the Plaintiff, Rite Foods’ Fearless energy drinks, which consist of the Red Berry and Classic brands, were launched into the Nigerian market in June  2017,  and has gained a wider market share before NBC’s Predator brand which made entrant in June 2020.

International Breweries Plc Announces Change of Registered Address

Esan Bolaji
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International Breweries Plc Announces Change of Registered Address

International Breweries Plc hereby notifies The Nigerian Stock Exchange (NSE) and the investing public that the Company’s Registered Address has changed from 22/36 Glover Road, Ikoyi-Lagos to Plot 5A, Abuja Street, Banana Island, Ikoyi-Lagos.

This change has been effected in the statutory form and this notice is given in line with the prescribed rules of the NSE.

International Breweries Plc is a brewery in Nigeria that brews, packages and markets a range of beer and non-alcoholic malt beverages. The company is known for its beer sold under the Trophy brand name and non-alcoholic malt drink sold under the Betamalt brand name, namely Trophy Lager, Trophy Black and Betamalt malt drink.

HERO LAGER BEER BRANDSPURNG_2

Other brands packaged and marketed by International Breweries Plc include Castle Milk Stout, Castle Lager, Redds, Hero, Grand Malt and Voltic Water. The company’s head office is in Osun State, Nigeria and its distribution centres are in Ibadan, Lagos and Ilorin.

Gerety Awards Announces Deadline Extension and New Category

Esan Bolaji
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Gerety Awards Announces Deadline Extension and New Category

The Gerety 2021 deadline has been extended until April 30 and a new category for humour is announced.

The humour category will celebrate the best in advertising humour. Funny advertising becomes a part of popular culture. Just like Noah’s Ark’s Airtel ‘Lost’ or Whassup for Budweiser by DDB Worldwide Chicago.

Gerety Awards Announces Deadline Extension and New Category

At last year’s Gerety there was The Punishing Signal from FCB India that would have been an ideal candidate for the humour category.

Upon learning about the new category, Executive jury member Elizabeth Oghale Ughoro, Creative Director at Loose Media commented “Humour doesn’t only make people let down their guard, it also acts like a pill known to treat malignant cases of ad blockers”.

Gerety Awards Announces Deadline Extension and New Category

Instead of categories, the Gerety Awards are judged by Cut’s (like a diamond). There are now eleven possible Cuts to enter, and any type of media can be submitted within each. Judging is based on the entries received in each Cut, regardless of medium. Entries submitted must be broadcast, published or released in a commercial environment with client approval between January 1st, 2020 and the closing date.

The Gerety shortlist will be announced in the first weeks of June followed by jury panels from around the world discussing their favourite campaigns. The Gerety Awards shortlist will be the predictor for all other award shows in 2021, and an important benchmark for the industry for the best in advertising from the female lens.

Named for Frances Gerety, the copywriter who in 1948 coined the slogan “A diamond is forever, The Gerety Awards marks the first time that a jury has been brought together to select the best in advertising — all advertising, not just advertising made for women — through the female lens, creating a benchmark that is relevant to the market reality, all while redefining the standard to which advertising has traditionally been held.

April 2021 FGN Savings Bonds Offer For Subscription

Esan Bolaji
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April 2021 FGN Savings Bonds Offer For Subscription

Pursuant to the Debt Management Office (Establishment) Act 2003 and the Local Loans (Registered Stock and Securities) Act, CAP. L17, LFN 2004 Debt Management Office on behalf of the Federal Government of Nigeria Offers for Subscription and is authorized to receive applications for the Federal Government of Nigeria Savings Bond at the following interest rates:

2-Year FGN Savings Bond due April 14, 2023: 5.522% per annum

3-Year FGN Savings Bond due April 14, 2024: 6.522% per annum

Opening Date:                                  April 6, 2021

Closing Date:                                    April 9, 2021

Settlement Date:                              April 14, 2021

Coupon Payment Dates:                 July 14, October 14, January 14, April 14

Summary Of The Offer 

Issuer 

Federal Government of Nigeria (“FGN”)

Units of Sale 

N1,000 per unit subject to a minimum Subscription of N5,000 and in multiples of N1,000 thereafter, subject to a maximum subscription of N50,000,000.

Interest Payment 

Payable Quarterly

Redemption 

Bullet repayment on the maturity date

Status

  1. Qualifies as securities in which trustees can invest under the Trustee Investment Act.
  2. Qualifies as Government securities within the meaning of Company Income Tax Act (“CITA”) and Personal Income Tax Act (“PITA”) for Tax Exemption for Pension Funds, amongst other investors.
  3. Listed on The Nigerian Stock Exchange.
  4. Qualifies as a liquid asset for liquidity ratio calculation for banks.

Security 

Backed by the full faith and credit of the Federal Government of Nigeria and charged upon the general assets of Nigeria.  

Interested investors should contact the stockbroking firms appointed as distribution agents by the debt management office.

Nike’s Footwear Sales Hit $23B, More Than Other Four Major Sports Brands Combined

Brand Spur
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Nike’s Footwear Sales Hit $23B, More Than Other Four Major Sports Brands Combined

As one of the largest and most recognizable brands globally, Nike represents the leader in the global sports footwear industry.

Although the COVID-19 caused significant disruptions to the Oregon-based sneaker giant, it still made much more revenue than its closest rivals.

According to data presented by Finaria.it, Nike’s footwear sales hit $23.3bn in 2020, more than the other four major sports brands combined.

Nike Lost $910M In Footwear Sales Amid COVID-19, Adidas Revenues Plunged by $1.5B

As one of the largest and most recognizable brands on the planet, Nike represents the leader in sports equipment and athletic apparel.

The US-based company, traded as NKE on the New York Stock Exchange, has acquired several footwear and apparel companies over its history, including Converse, Cole Haan, Starter, Bauer Hockey, Umbro, and Hurley International.

Today, it sponsors many high-profile professional athletes like Cristiano Ronaldo, Rafael Nadal, Lebron James, and Rory Mcllroy, and manufactures uniforms for a wide range of sports teams, including Barcelona, Chelsea and Paris Saint-Germain.

In 2020, Nike’s revenues dropped by $1.7bn YoY to $37.4bn, with thousands of their shops closed amid lockdown. The company’s earnings report showed footwear sales accounted for 62% of that value, or $23.3bn.

Although Nike’s footwear sales dropped by $910 million YoY amid the COVID-19 crisis, that was still considerably less than its biggest rival, Adidas, whose revenues plunged by $1.5bn YoY to $13.7bn.

Owing to Nike and Adidas’s market dominance, Puma’s footwear sales have remained relatively constant in the last few years. Statistics show that footwear revenues of the third-largest sports brand in this market stood at $2.9bn last year, slightly above the 2019 levels.

North America Generates 40% of Nike’s Footwear Revenue

While Nike already has a presence in many emerging markets, there is still significant growth potential. Rapidly growing economies like China, and other emerging markets like India and Brazil, have the potential to drive the company’s future earnings growth.

Just under $6bn, or 25% of Nike’s last year’s footwear revenue was generated in Europe, Middle East and Africa, $400 million less than in 2019. Revenue from Greater China jumped by $380 million in a year and hit over $4.6bn in 2020, 19% of combined profits. Nearly $3.5bn came from the emerging markets of the Asia Pacific and Latin America, $170 million less compared to pre-COVID-19 figures.

However, North America remained the biggest market for Nike’s footwear sales, with $9.3bn or 40% of total revenue last year. However, this region also witnessed the biggest sales drop amid the COVID-19 crisis, with revenues plunging by $720 million year-over-year.

More Excitement As Second Round Of Nigerian Idol Auditions Continues

Brand Spur
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More Excitement As Second Round Of Nigerian Idol Auditions Continues

The judges were once again faced with the difficult task of screening contestants of all ages from all over Nigeria who were competing for a spot to show they have what it takes to be the next Nigerian Idol.

The judges were a lot calmer, but they were also curt, Obi Asika held the contestants to the standard set by those from the previous week. Seyi Shay was a lot relaxed this time; it was DJ Sose who was not having any gimmicks from the contestants.

This week’s contestants gave the judges a tougher time and entertained the viewers, including 19-year-old graphic designer, Omobolaji who preferred to be called Richard but plans to use Emmanuelai as his stage name. There was also 29-year-old Ivan whose rendition of Aerosmith’s classic Don’t Miss A Thing drove DJ Sose under the table.

Another contestant, Fuburata impressed the judges with her rendition of Celine Dion’s Because You Love Me, whilst Rachel was left begging the judges for a second chance to prove herself.

However, all hope was not lost as eight contestants managed to impress the judges.

17-year-old multi-instrumentalist Ebunoluwa wowed the judges with her stage presence and it made up for her shaky performance. Photographer, fashion designer and veterinary medicine student, Omotolani, left the judges stunned and set the bar for other contestants that came after her. They, alongside six other contestants, got golden tickets to advance to the theatre week.

The auditions continue next week Sunday, April 11 on Africa Magic Showcase (DStv ch 151) and Africa Magic Urban (DStv ch 153) and Africa Magic Family (DStv ch 154 & GOtv ch 2) from 7pm.

Nigerian Idol season 6 is sponsored by Bigi Drinks and Tecno Mobile. The show is available to customers on DStv Premium, Compact Plus, Compact, Confam, Yanga and GOtv Max and Jolli. Visit www.dstvafrica.com or www.gotvafrica.com and download MyDStv or MyGOtv Apps to pay your subscription or switch your package.

You can also watch Nigerian Idol Season 6 via the DStv app on multiple devices at no additional cost. The app is available for download on iOS and Android devices.

P+, Nigerian Media Monitoring Agency Launches “Get-Reports” For The PR Industry

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P+, Nigerian Media Monitoring Agency Launches “Get-Reports” For The PR Industry

P+ Measurement Services, Nigeria’s leading Independent Public Relations (PR) measurement and evaluation agency, has introduced “Get-Reports” a product that allows the purchase of PR performance audit reports. It is the first of its kind in the Nigerian Public Relations industry.

The product spans across areas which includes 22 Commercial Nigerian Banks PR Performance Audit Report; Top Nigerian Insurance PR Performance Audit Report; Top Nigerian Digital Banks PR Performance Audit Report and the 22 commercial Nigerian Bank CEOs PR Performance Audit Report.

Others are the Top Nigerian Insurance CEOs PR Performance Audit Report and Top Nigerian Digital Bank CEOs PR Performance Audit Report.

In the area of the Nigerian Digital Bank CEOs media Performance Audit Report, a total of four Digital Bank CEOs in the country were sampled, while the number of sample will be populated as the demand increases.

On it, the PR Performance Audit Report will deliver deep insights of CEOs for four Digital Banks in Nigeria, using the P+ Measurement Media Content Analysis (P+MCA) methodology in accordance with the Barcelona Principles 3.0; highlights Nigerian Digital Bank CEOs with the most favourable and unfavourable media reputation, and analyse the overall competitive share exposure of the four Digital Bank CEOs sampled.

It will also explore the top four CEOs in the Nigerian Digital Banking industry with most interviews, as well as partnership/sponsorship, CSR/CSI, product launch, promotion and fintech media activities.

Commenting on it, the Company’s Chief Insights Officer, Philip Odiakose, pointed out the product is with 5 per cent error margin and 95 per cent confidence level, and has passed through high-quality checks and audit processes, by well-trained media and data analysts, with exceptional skills in media monitoring, media research, data gathering, analysis as well as evaluation.

P+, Nigerian Media Monitoring Agency Launches "Get-Reports" For The PR Industry-Brand Spur Nigeria
P+, Nigerian Media Monitoring Agency Launches “Get-Reports” For The PR Industry-Brand Spur Nigeria

He explained the reports make sourcing for data-driven brand PR performance audit report easier than ever and can be purchased on the Mate+ platform through https://www.mateplus.com.ng/get-reports/ using various transparent payment methods on the website, and brands and agencies can also request tailored customized PR audit report for their C-Suite.

“The evaluation processes are for those that want to handle their media monitoring internally, but do not want to take the risk of a self-brand evaluation which can also be term as being “the accuse, the judge and the jury of your own homework”, This is because the health of the brand is the end goal for all brand custodians,” Odiakose affirmed.

The CIO avowed that the frontline agency with expertise in Media Monitoring, PR Measurement and Audit and CEO Media Performance and Advisory, has offered services to over 45 brands and 15 PR agencies in its five years of operation in Nigeria.

The organization, which is the only local AMEC Member in the country, has exclusive partnerships with the Nigerian Institute of Public Relations (NIPR) and Reelforge Media Monitoring; the biggest media monitoring agency in the East African region, covering more than five countries.

It has greatly enhanced clients’ businesses to incalculable heights, with its cutting-edge processes and avant-garde methodology for PR measurement and evaluation.

Since its inception, the agency has been providing media monitoring, measurement, evaluation and performance audit services for brands, agencies, and government establishments, across various segments of the economy, ranging from Banking, Telecom, Insurance, Airlines, Tourism, Government, Non-Governmental Organisations (NGOs), Pensions, Health Management Organisations (HMOs), Tobacco, Lifestyle and PayTV.

Nigerian Equity Market: Stock Recommendations for the Week (06/04/2021 – 09/04/2021)

GTI
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Nigerian Equity Market: Stock Recommendations for the Week (06/04/2021 – 09/04/2021)

Last week, trading activities on the Nigerian equity market closed on a negative sentiment despite gains from a large number of stocks. However, the negative sentiment was impacted by the most largely capitalized stock (DANGCEM), and the banking stocks.

Consequently, the NSE-ASI and NSE Market Capitalization declined by 0.76%w/w to close for the week at 38,916.74 absolute points and N20.36 trillion compared to 39,216.20 absolute points and N20.52 trillion in the prior week. This nominally translates to a week-on-week loss of N156.67 billion in Market Capitalization value.

The downturn was impacted by losses recorded in few medium and large capitalized stocks, amongst which are; GUARANTY (-5.07%), FCMB (5.03%), WEMABANK (-5.00%), HONYFLOUR (-4.84%), UBN (4.72%), DANGCEM (-4.44%), ACCESS (-2.99%), UNILEVER (-2.55%), STANBIC (-2.02%), and FBNH (-0.68%).

Outlook for the week

We expect the relatively low priced stocks, as well as some high dividend yield stocks to spur long term investors to the market. However, we expect to see reactions from investors in the new trading week as yields in the fixed income market continue to rise.

Corporate Actions Update

Stanbic IBTC Holdings Plc (₦3.60 and 1 for 6 bonus)
– Qualification Date – 7th April 2021
– Closure Date – 8th April 2021
– Payment Date – 28th May 2021

FCMB Group Plc (₦0.15)

  • Qualification Date – 8th April 2021
  • Closure Date – 9th April 2021
  • Payment Date – 21st May 2021

Custodian Investment Plc (₦0.45)

– Qualification Date – 9th April 2021
– Closure Date – 16th April 2021
– Payment Date – 22nd April 2021

Access Bank Plc (₦0.55)

  • Qualification Date – 15th April 2021
  • Closure Date – 16th April 2021
  • Payment Date – 30th April 2021

Fidelity Bank Plc (₦0.22)

  • Qualification Date – 16th April 2021
  • Closure Date – 19th April 2021
  • Payment Date – 30th April 2021

FBN Holdings Plc (₦0.45)

  • Qualification Date – 20th April 2021
  • Closure Date – 21st April 2021
  • Payment Date – 28th April 2021

GTI WEEKLY STOCK PICKS FOR THE PERIOD 06/04/2021 – 09/04/2021

Nigerian Equity Market Brandspurng Stock Recommendations for the Week
NOTE: (*) Indicates the company that is yet to release its Full-Year 2020 Earnings’ Result

Ikeja Hotel Audited Financial Statements Show a Reports a Loss After Tax of N6.72Bn

Esan Bolaji
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0
Ikeja Hotel Audited Financial Statements Show a Reports a Loss After Tax of N6.72Bn

Ikeja Hotel (Nigeria) Financial Statements for the Year Ended, December 31, 2020, reported a Loss After Tax of N6.72billion. This performance reflected the full impact of the Covid19 Pandemic, which shut down the economy, especially the hospitality business, from March 2020. The lockdown for seven months of our Hotel assets brought down unprecedentedly room sales to their lowest ebb in history.

Secondly, the value of one of the Subsidiaries’ Assets amounting to N5.1billion was impaired (Investment Property N4.63billion, work in progress N473million) due to notice of revocation issued by the Lagos State Government on the Investment Property. The Company has however challenged this in Court, and hopeful that the case will be resolved in its favour.

Despite this result, the Company remains solvent, and the fundamentals remain strong. With strategic responses of the Board of Directors and Management, coupled with the availability of Covid-19 Vaccine, the business will hopefully steadily pick up.

Barring any unforeseen circumstances, Ikeja Hotel is set to return to its leading position as the Nigerian hospitality business’s flagship.

Ikeja Hotel Plc is a hotel development and management company with direct or indirect ownership of Sheraton Lagos Hotel, Sheraton Abuja Hotel and Federal Palace Hotels & Casino.

The company targets the leisure, business and convention markets in Opebi, Ikeja and Lagos. Sheraton Lagos Hotel has 340 guest rooms and an impressive array of conferencing and recreational facilities, making it one of the largest hotels in Nigeria.

Sheraton Abuja Hotel has 575 rooms and conference, restaurants and recreational facilities. Sun International’s Federal Palace Hotel & Casino is a luxury 5-star hotel conveniently located in the heart of Victoria Island’s commercial district and boasts luxury accommodation, a casino, conference facilities and an array of restaurants, bars and recreational facilities.

Established in 1972 and formerly known as Properties Development Limited, the company changed its name to Ikeja Hotel Limited in 1980. The company’s head office is in Lagos, Nigeria.

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