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Fools Die! How Sifax Boss, Taiwo Afolabi Used Fidelity Bank To Beat Jim Ovia To Marriot’s Deal

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Jim Ovia’s Marriott Hotel project has no doubt turned to a white elephant project, literally though. Few people will forget the unusual buzz news of the hotel’s emergence in the highbrow hospitality sector generated few years ago.

The end might have come sooner than expected for Jim Ovia, chairman and founder of Zenith Bank’s ambition to play big in the hospitality industry. For a man who has succeeded in many of his endeavours, Ovia’s Marriott Hotel project might be a stillbirth after all. In 2012, Ovia’s Quantum Luxury Properties Limited entered a multi-billion naira agreement with the global hotel brand, Marriott, to have one in Nigeria.

Primed to be located beside the Civic Centre, also owned by Ovia, on the Ozumba Mbadiwe waterfront Victoria Island, Lagos, the proposed five-star hotel, he said, would comprise 150 star rooms with a 2014 launch date already set. “We identified a gap in the marketplace within the hospitality industry to support the burgeoning sectors. Nigeria is well known for its hospitality and Lagos as a mega-city deserves a world class facility to complement its status.

We are proud to have the opportunity to partner with a world-class brand like Marriott,” Ovia said excitedly, adding that the Nigerian economy continues to be an attractive destination for Foreign Direct Investment (FDI), particularly with the boom in the telecoms industry and the attractiveness of the banking sector.” That was in 2012.

What many didn’t know perhaps is that it wasn’t just Ovia that got the Marriott franchise; Taiwo Afolabi, the shipping magnate behind SIFAX Group regarded as one of Africa’s fastest growing multinational corporations with diversity in Maritime, Aviation, Haulage & Logistics, Oil & Gas, also got approval to site one in G.R.A, Ikeja, Lagos. Unlike Ovia’s which seem to be dead and buried, Afolabi’s 250-room Marriott Hotel financed by Fidelity bank, has now been completed. The beautiful hotel was opened yesterday amidst pomp and pageantry.

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Ajimobi’s Eldest Child, Bisola Dies In The UK

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Late Governor Ajimobi’s first child, Bisola is dead!

 

News filtered in early Thursday, March 27, 2025 that Bisola,42 died after a brief illness in the United Kingdom.

 

The late woman before her death was the special adviser to the Minister of Budget and Planning, Atiku Bagudu.

 

Married to Kolapo Kola-Daisi, their marriage is blessed with three children.

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EFCC Arrests Top Businesswoman, Aisha Achimugu

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The Economic and Financial Crimes Commission (EFCC) recently arrested prominent businesswoman and socialite, Aisha Achimugu, following allegations of fraudulent activities related to a multi-million-naira contract awarded to her company by a South-West state.

Achimugu, who serves as the Chairman of Bluewave Exploration and Production Limited, was detained last weekend after a civil society group filed a petition accusing her of involvement in dubious dealings concerning the contract. She was granted bail the following day but has been instructed to return for further questioning in the coming week.

Beyond her corporate endeavors, Achimugu is well-known in elite circles across Lagos and Abuja. Her social media presence showcases a lavish lifestyle, featuring exotic vacations, exclusive yacht parties, and private jet travels.

This arrest marks a significant challenge for Achimugu, whose business empire and social standing are now under intense public scrutiny. The EFCC’s investigation is ongoing, and the outcome may have far-reaching implications for her career and reputation.

A source hinted that Achimugu was asked by the commission to report back on the 30th of March,2025 for further questioning.

Not really bothered by the investigation, the billionaire days after her arrest launched a 30-day feeding Ramadan programme where she targets the less-privileged.

 

Additional Information- Streetjournal Magazine

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Obasa Missing as Lagos Assembly Sits, Lauds President Tinubu

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The Lagos State House of Assembly convened for a crucial legislative session yesterday, but an unexpected absence stole the spotlight, the ousted Speaker Mudashiru Obasa was nowhere to be seen. The sitting, which focused on key legislative matters and a commendation of President Bola Ahmed Tinubu’s leadership, went on without Obasa, raising eyebrows among lawmakers and political observers alike.

New Speaker Mojisola Meranda presided over the proceedings, ensuring the session ran smoothly. During deliberations, the lawmakers took turns applauding President Tinubu for his strides in governance, particularly his economic and infrastructural policies aimed at revitalizing Lagos and Nigeria as a whole. However, whispers about Obasa’s absence could not be ignored.

Sources within the Assembly remained tight-lipped on the reason for his nonappearance, fueling speculation.

As lawmakers dispersed after the session, the big question lingered where was  Obasa? For now, the mystery remains, but all eyes will be on the next sitting to see if the seasoned politician resurfaces.

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