Ikeja Hotels management clears air on revocation of Opebi land

Ikeja Hotel Plc has shed more light on its earlier claim that it was dragging Lagos government to the court over revocation of it Opebi Gorge land which could cost it N4.63b loss.

In an updated information at Nigeria Stock Exchange on Friday, Ikeja Hotel said the land in Opebi Gorge belonging to Charles Hampton Limited which is its subsidiary with nothing to do with Sheraton Lagos Hotel nor the land on which the hotel is situated.

In the note, Ikeja Hotel said: “It has come to our notice that our statement to the Nigeria Stock Exchange in our bid to provide the market with full information on the developments in our group was misconstrued and misinterpreted by some sections of the press.

“Please note that our press release on November 3, 2020, to the Exchange is to disclose that the land in Opebi Gorge belonging to Charles Hampton Limited which is a subsidiary of Ikeja Hotel Plc, is the land in question.

“The Notice of Revocation from the Lagos State Government on the said land in Opebi Gorge has nothing to do with Sheraton Lagos Hotel nor the land on which the Hotel is situated.”

The statement also added that the revocation “has the potential to impair the assets of the group to the tune of N4.63 billion if the government succeeds.”


ICYMI: CBN Lists Business Activities Eligible For N75bn Youth Investment Fund

THE Central Bank of Nigeria (CBN) has revealed main business activities and sectors in the Nigerian economy that are eligible to access its N75 billion Youth Investment Fund…

#EndSARS: Fr Mbaka Asks Buhari, Past Leaders To Apologise To Nigerians

Controversial Catholic priest and Spiritual Director of Adoration Ministry, Enugu, Nigeria, (AMEN), Rev Fr Ejike Mbaka, has taken a swipe at President Muhammadu Buhari and past leaders of the country demanding that the President should apologize to the country, especially the youths, on behalf of himself and his predecessors, for causing Nigerians so much pain…

NEWS ANALYSIS: Arewa House Parley: Any 2023 Connection?

THE crème de la crème converged on Kaduna on Saturday for an epochal 50th anniversary of Arewa House, otherwise referred to as the Centre for Historical Documentation and Research. Apart from the stimulating lecture delivered by the chairman of the Nigeria Governors’ Forum (NGF) and Ekiti State Governor, Dr Kayode Fayemi, the occasion brought together a galaxy of politicians of different affiliations, academics, former top military brass and foremost traditional rulers from the entire 19 states making up the northern axis of the country…

You might also like

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More