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How RealtorMax became one of the fastest-growing real estate companies in Nigeria – Mike Adeyemi

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How RealtorMax became one of the fastest-growing real estate companies in Nigeria - Mike Adeyemi

How RealtorMax became one of the fastest-growing real estate companies in Nigeria – Mike Adeyemi

Nigeria’s real estate industry has witnessed significant growth in recent years, with many companies battling for a stake in the market.

 

 

How RealtorMax became one of the fastest-growing real estate companies in Nigeria - Mike Adeyemi

However, RealtorMax, owners of Urbanmax Estate, Owode Obafemi, Ogun State and Aje: The Wealthy Residence, in Ibeju Lekki area of Lagos stood out to emerge as one of the fastest-growing real estate companies in the country.

Based in Lagos and founded a few years ago by Mike Adeyemi, an innovative young entrepreneur, Realtormax has achieved success in a relatively short period.

The company’s vision to redefine affordable housing in Nigeria and across Africa has been the driving force behind its operations, and it has remained committed to this mission since its inception.

According to Adeyemi, its commitment to developing new towns around the metropolis by not just selling lands but holding buyers by their hands and guiding them towards owning their dream homes whether luxury or affordable set apart the ambitous and fast growing firm from other real estate companies in Nigeria.

The company is not just a facilitator of land purchases; it takes a hands-on approach by engaging in project management, providing critical infrastructure, offering building materials at highly doscounted rates, providing amenities such as internet, banks and road, as well as consulting. This approach ensures that clients receive fully realised and developed their choice properties with minimal stress.

Adeyemi’s emphasis on integrity, quality, innovation and attention to detail have set a standard that has become the hallmark of RealtorMax ’s projects.

According to the CEO, RealtorMax has a line up of more innovative solutions that will redefine the landscape of real estate in Nigeria powered by technology and new thinking.

“With our plans which we shall be rolling out in due course, we will deploy technology to make not just home ownership smooth and worry free but will help many more become smart investors who will partake in amazing global real estate ventures, maximise profits and benefit from joint investment platforms,” he noted.

He added: “One of the notable projects currently being undertaken is the almost 500-acre Urbanmax Estate, located in the Owode Obafemi area of Ogun State, near the Shagamu Express Interchange, which sells for N1.3million per plot (500 SQM). The eco-friendly estate offers a range of residential and commercial options with modern amenities, providing residents with a comfortable and convenient lifestyle.

“In addition, RealtorMax Limited is also developing Aje: The Wealthy Residence, in the vibrant Ibeju Lekki area. This luxurious residential development showcases our commitment to delivering high-quality and prestigious homes for discerning buyers at N32millon per plot (500 SQM). So, we offer dream homes to all our customers whether their choice is luxury or affordability.

Both estates offer opportunities to enjoy eco-friendly homes with close proximity to Lagos metropolis.

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Data breach: FG slams N400m fine on four banks, others

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Data breach: FG slams N400m fine on four banks, others

The Nigeria Data Protection Commission has said more than 1000 financial institutions, schools, insurance companies, and consultancy firms are currently undergoing investigations for various degrees of breaches of citizens’ data.

 

 

 

This was as the commission’s National Commissioner, Vincent Olatunji, revealed that four major banks and three other institutions faced sanctions and incurred fines totalling N400m for infractions relating to breaches of citizens’ data.

 

 

 

Olatunji revealed this on Tuesday during an interactive session with journalists to mark the first anniversary of the signing into law of the Nigeria Data Protection Commission Act by President Bola Tinubu in Abuja.

 

 

On June 12, 2023, Tinubu assented to the data protection bill to advance privacy rights and other fundamental freedoms both in cyberspace and in analogue transactions.

 

 

The legislation allows Nigerians to seek redress from any form of data breach stipulating that citizens’ data is “processed in a fair, lawful and accountable manner”.

 

 

 

Recalling with nostalgia, the national commissioner stated, “As of this time last year, we were so unsure if the president would assent to the bill, what if the president didn’t sign it, what would have happened? The bill was passed by the ninth Assembly and usually, when a new government comes in, they want to jettison all that the former government did before it got there. More importantly, it was a new government. I was apprehensive, everyone was worried but I kept faith in God even though I was not sure too and on the 12th of June last year, the president signed it.”

 

 

 

Speaking further, Olatunji emphasised that the nation’s data ecosystem has surpassed a value of N10bn due to the multiplier effect of assenting to the bill.

 

 

 

He stressed the commission’s commitment to safeguarding citizens’ data by global best standards and practices, deeming it essential for ensuring its safety, security, and protection.

The national commissioner said, “Cumulatively, we have had over 1,000 reports of data breaches between when we started and now. The figure is low because of the low level of awareness among Nigerians.

Out of the 1,000 cases, about 400 of them are digital revenue companies that we call loan sharks but the main ones we have conducted investigations in the education sector, financial institutions, real estate, insurance, consulting, and schools and as of today, we have finalised four major investigations and some have paid their remediation fees. In the law, we can fine companies depending on the nature of the breach, impact on the subject and level of cooperation and we got N400m from remediation fees.”

 

 

He added that ongoing investigations were being conducted concerning data infractions.

Olatunji also highlighted that the activities of the NDPC have led to increased levels of compliance with the Nigeria Data Protection Act in both the private and public sectors.

“When we started, the levels of compliance within the private sector was about 49 per cent while the public sector was 4 per cent. But today, private sector compliance is above 55, while the public sector has reached 15 per cent “, Olatunji said.

The NDPC boss also announced that Nigeria is now at the forefront of the activities of the Global Data Assembly and has impacted the data ecosystem on the national economy as nations like Kenya, Ghana, China, Singapore, and Malaysia, among others.

 

 

 

“The Data Protection Act 2023 is a major milestone for Nigeria. Mr President laid our apprehension to rest when he signed the Act on June 12, 2023. It was a major turnaround for the industry. Now the data ecosystem is beyond everybody because it is a global phenomenon due to the impact of technology.

“In terms of jobs and wealth creation, promotion of tourism, perception and attraction of foreign direct investments into Nigeria, we have taken a leapfrog and even overtaken some countries.

“And that’s why Nigeria was given the hosting right for 2024 All African Data Protection Commission’s and Institutions. About 30 countries would be here next year for the event,” Olatunji said.

He said the commission had concluded arrangements to train 10,000 public servants in responsible data management, while about 1,000 data protection officers and processors including journalists would undergo training by the NDPC.

To check the activities of digital loan platforms, Olatunji said the NDPC collaborated with CBN, ICPC, EFCC, and other regulatory authorities, lamenting that most of the illegal digital loan platforms had no known or traceable addresses.

He, however, emphasised that ongoing efforts would focus on raising awareness among vulnerable Nigerians who fall prey to loan sharks due to lack of knowledge. He noted that the nation’s large population and vast landmass pose challenges to fully clamping down on the activities of digital loan sharks, as many operate from isolated or remote areas without identifiable addresses.

 

 

 

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GTCO Notice Of Proposed Offering

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GTCO Notice Of Proposed Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE

OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO ANY

JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL

 

 

LAGOS, Nigeria, June 11, 2024.

 

This notice is issued in reliance on Rule 283 of the Rules & Regulations of the Securities & Exchange Commission, Nigeria.

This notice does not constitute an offer to sell or the solicitation of an offer to buy any securities. Any offer, solicitation or offer to buy, or any sale of securities will be made only by a prospectus duly registered by the Securities and Exchange Commission, Nigeria (SEC) in accordance with the provisions of the Investments and Securities Act, No. 29, 2007 (the Act) and the rules and regulations of the SEC made pursuant to the Act (the SEC Rules).

 

NOTICE OF PROPOSED OFFERING

 

Guaranty Trust Holding Company Plc (GTCOPLC) has filed a preliminary “red herring” prospectus (Red Herring Prospectus) with the SEC in connection with a proposed offering for subscription of ordinary shares of 50 kobo each in its share capital (the Ordinary Shares) to raise gross proceeds of up to N500 Billion (the Proposed Offering). The number of Ordinary Shares to be offered and the price range for the Proposed Offering have not yet been determined.

              

 PURPOSE

The net proceeds of the Proposed Offering will be used for (i) the growth and expansion of the GTCOPLC Group’s businesses. Such planned growth and expansion will be effected through investments in technology infrastructure to fortify existing operations, the establishment of new subsidiaries and selective acquisitions of non-banking businesses; and (ii) the recapitalisation of Guaranty Trust Bank Limited.
    

TARGET INVESTORS

The Proposed Offering is structured as an institutional offering targeted at eligible investors and a retail offering within Nigeria (the Nigerian Tranche) and a private placing to persons reasonably believed to be qualified institutional buyers outside Nigeria (the International Tranche).
LISTING AND ADMISSION

TO TRADING

 

An application will be filed for the approval of the Board of the Nigerian Exchange Limited (NGX) with respect to the listing and admission to trading of the Ordinary Shares on the NGX Official List.
ANTICIPATED TIMING OF THE PROPOSED OFFERING The Proposed Offering is anticipated to open by July, 2024.

The filing of the Red Herring Prospectus was undertaken with a concurrent filing of a preliminary universal shelf registration statement. The universal shelf registration will permit GTCOPLC to establish a multi-currency securities issuance programme (the Programme) to issue various types of securities, or any combination of such securities, in one or more offerings, from time to time, to raise proceeds in an aggregate amount of up to U.S.$750 million (or equivalent amount in Nigerian Naira) in the Nigerian/international capital markets during the validity period of the Programme.

 

The Proposed Offering is expected to be the first issuance under the Programme.

 

This notice does not constitute an offer of securities for sale in the United States or to U.S. persons (“U.S. persons”), as such term is defined in Regulation S promulgated under the United States Securities Act of 1933, as amended, (the U.S. Securities Act). The Ordinary Shares being offered have not been, nor will be, registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States or to U.S. persons absent registration or an applicable exemption from such registration requirements.

 

About the Issuer

 

Guaranty Trust Holding Company Plc is the ultimate holding company of the GTCOPLC Group.

 

The GTCOPLC Group is one of the largest financial services organisations in Africa. Headquartered in Lagos, Nigeria, the Issuer maintains direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom. Within these regions, the operating entities provide a comprehensive range of commercial banking and related financial services to millions of retail, institutional, private banking and wealth management customers, in addition to asset management, pension fund administration and payment technology businesses.

 

For further information, please contact:

 

Investor Relations:

ir@gtcoplc.com, +234 2012714580

 

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At Labule, we are committed to raising the standards of our local delicacies- Binta Adisa, MD, Roots Foods Limited

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At Labule, we are committed to raising the standards of our local delicacies- Binta Adisa, MD, Roots Foods Limited

 

 

The Managing Director/ Chief Chef, Roots Foods Limited, the parent company of Labule Restaurants, Binta Adisa, has reiterated the commitment of the company to maintaining the quality of local delicacies offered to its customers.
Adisa disclosed this during the official opening of a new Labule Restaurant in Ikorodu on Saturday, June 8, 2024. The opening of the Ikorodu outlet will make it the fourth outlet established since its inception ten years ago.

 

At Labule, we are committed to raising the standards of our local delicacies- Binta Adisa, MD, Roots Foods Limited

 

While declaring the restaurant open, the Ayangburen of Ikorodu, His Royal Majesty, Oba Abdulkabir Shotobi commended the management of Roots Foods Limited for choosing to build such an enterprise in Ikorodu saying that not only would it contribute to job creation but also boost the economic prosperity of the environ. While offering prayers at the occasion, Oba Shotobi noted that the arrival of the restaurant in Ikorodu provides an opportunity for every Nigerian to identify with their roots.
On her part, the Managing Director, Roots Foods Limited, explained further that the decision to open another outlet in Ikorodu comes as a result of increased demand for local delicacies by residents, and also offers an opportunity to cater to the diversity of culture domiciled in the axis.

 

 

 

She stated that the Labule brand, which has existed for a decade, has remained true to itself by promoting Nigerian identity and culture. Reminiscing on the journey thus far, she stressed that her passion to see the business succeed has continued to be the driving force amidst business challenges.

 

 

 

 

“For us, one major thing that kept us going is the passion that I have for food and the business generally. I am someone who loves to eat and cook. It gives me joy when I see people eat and they are happy. Besides, the loyalty of our customers has also been of great help. It would interest you to know that some customers have been with us for 10 years. We also appreciate our team of dedicated staff who have been there for us. One key thing that has also contributed is my background in accounting, which helped a great deal in running the business well.

 

 

 

 

Notwithstanding, we have had challenges such as finance, manpower, and some of the issues associated with the volatile nature of the Nigerian economy,” she said.

 

 

 

Asked about the projection for the next decade, she disclosed that plans are already in the works to open outlets in other cities in Nigeria with the contemplation to expand footprints abroad thereafter.

 

 

 

 

The event also attracted other dignitaries from all walks of life including His Royal Majesty, the Adeboruwa of Igbogbo, Oba Abdulsemiu Orimadegun Kasali, Baale of Ojogbe, Oluakyode Olomo and Muslim clerics among other guests.

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