Business
LAND OWNERS ALLEGEDLY TAKE LAFARGE TO COURT OVER INJUSTICE
Some land owners of Ijagba community and their neighbors in Sagamu, Ogun state have taken Lafarge cement WAPCO Nigeria to court over an expanse area of land which was compulsorily acquired by the military government of the state late in the 1990s.
Reports have it that over 1,000 hectares of land was acquired for public purposes abosolutely and especially for the establishment of cement factory. After the acquisition, the land owners reportedly challenged the surveyors who were working on the land which they told then (Land owners) that they (Surveyors) were staff of the state government who were paving way for a state owned cement factory in which the children of the community would have unrestricted access to employment. The land owners were happy and gladly agreed with the acquisition.
But at a meeting held at the Onijagba’s palace on Wednesday,11th July, 2007 over the crop enumeration exercise, representatives of both of the state government and Lafarge disclosed that the land was going to be transferred to Lafarge to exploit. This angered the land owners who spoke in one voice that Lafarge should pay the market value of the land. Since there had been open confrontation between the land owners on the land, Lafarge and Ogun state government, on the other hand, this led to the land owners’ letter of 19th May, 2008 demanding full compensation from Lafarge. In order to get a full picture of the story, this column made enquiries from Lafargeholcim in Europe, the parent company of Lafarge cement WAPCO Nig. PLC in an email on Nov. 4, 2015 and demanded answers to a 14-list set of questions. The questions bordered on why Lafarge should allow themselves to be dragged to court over a land they would immensely exploit for profit.
Since Lafargeholcim have not bothered to respond to our enquiry, we take it probably a corporate policy of the company not to countenance agitations that may benefit them. The land owners claim to have been so treated by Lafarge in Nigeria.
This column has therefore decided to go ahead with the story as far as our investigation can support.
Since the land owners letter on 19th May, 2008 referred to the land owners have reportedly made a series of overtures to Lafarge with a view to arriving at an amicable settlement. The company’s attitude had been negative.
In March 2014, the land owners reportedly instituted a legal action against Lafarge claiming full compensation for the land that had been transferred to them. The ogun state government was joined in the action.
After the completion of the crops enumeration excises the state government wrote to Lafarge to send their cheque for some #32,000,000 as compensation for the crops and structures. The sum was distributed by the state government to the land owners in accordance with the crops enumeration list. This list was prepared well ahead of the meeting at Onijagba’s palace in July 2007.
Lafarge is reportedly claiming that the 32m for crops was for the land. This shows that one hectare of land would cost about #32,000 i.e a plot of land of 60ft x 120ft will cost #2,134 or less than ten euro!!! Can’t someone in Lafarge be serious?
On its own part, the state government is contesting that the action by the land owners was statute barred but the court has ruled that it was not statute barred as the transfer of the land to Lafarge took place in 2008/2009. All other grounds of objection by the state government were also ruled in favor of the land owners.
It is understood that subsequent to the court ruling in the proceeding paragraph, the land owners had again extended their hand of fellowship to Lafarge for dialogue which the company hasn’t reciprocated.
The question bothering this column is why Lafarge should think they should seize the land which has been the source of livelihood for over three and a half centuries from the land owners and pay nothing for it. They want to exploit this land for profit and send 60% of such profit to shareholders outside the shores of the country. The remaining 40% will be distributed to less than 50% of the Nigerian population and probably none of the land owners benefiting from such distribution. The land owners have reportedly decided to resist the injustice.
we sent them messages for confirmation but no response.
“My name is Ifetayo Adeniyi, a Publisher and Celebrity journalist based in Lagos, Nigeria. I came across a story few weeks back and I decided to investigate it for me to have a balanced story. The story is all about THE BAD AND UGLY SIDE OF LAFARGEHOLCIM DEALING TOWARDS LAND OWNERS (IJAGBA COMMUNITY) IN SAGAMU, OGUN STATE, NIGERIA. I have some questions begging for answers so that it would not be a one side story by the time I break the news to the international community. I have some documents that are in my possession during the course of my investigation. I also discovered that few elite and royal father too have been compromised with members of your top management here in Sagamu and Nigeria to the detriment of the Land owners from Ijagba community, in Sagamu, Ogun State. This act cast shadow on your integrity as multi National company.The few elite can not champion the course of Ijagba community land owners because of their selfish interest. I’ll appreciate your sincere response. 1. How much do they pay Land owners from Ijagba community for the 1001 hectares of land that they are operating on now? Not crops and structure compensation. 2. Are they aware that the said land was meant for Public Use when government discussed with the landowners before they gave it to Lafarge wapco cement now Lafargeholcim? then converts it for commercial use which is contrary to the law without paying the landowners from Ijagba community. 3. Do they connived with the government officials to deceived the land owner Ijagba community that they would be paid for their land and other remuneration as dimmed fits. 4. In 2007, when wapco Lafarge cement then paid about #32,000,000 for the crops and structure to Ijagba community landowners…did the document stated 1001 hectares of land was for free ? 5.Are they aware that the land owners Ijagba community source of income were their farmlands (1001 hectares) that was taken without paying for the it? 6. Do they connived with few elite in the community who has nothing to do with landowners (Ijagba community) to suppress their voices? 7. Is there any of their CSR projects located within Ijagba community for direct benefits of the land owners or was it a compensation or hijacked by few elite and royal father to their immediate community in Sagamu?. 8. Are they aware that majority of the landowners (Ijagba community) are leaving in abject poverty? 9. Is Lafargeholcim ready to pay for the land to the Land owners (Ijagba community) or not? When they make billions of naira every year on the said land. 10. Is Lafargeholcim aware that the land owners (Ijagba community) are going through emotional tortures that has lead to the death of some of them? 11. Is that the way Lafargeholcim operates in other countries? I mean taking over landed property of about 1001 hectares without paying for the land? 12. Is the payment for the crops and structures because of air pollution caused by your able company that destroyed their means of livelihood is the same thing as paying for the land? 13. During my investigation I understand that the landowners would have preferred out of court settlement after they won the case at the high court but few top management of Lafargeholcim and the few influential people in sagamu always block the Avenue for the two parties to meet because of their selfish interest. Is that the way you have been doing it in other countries? 14. Lafargeholcim going to court over the used of the said land by them without paying for it, in whose interest? Is it to delay justice until the landowners die or to deny the landowners of their heritage and right because they can’t afford Senior Advocate of Nigeria? Thanks and God bless you as I wait on your reply within 5days before I would go to the Press. Thanks +234-705-311-1111. [email protected]“
Business
BUA Chairman Abdul Samad Rabiu Rises to Become Africa’s Second Richest Man
BUA Chairman Abdul Samad Rabiu Rises to Become Africa’s Second Richest Man
LAGOS – In a notable reshuffle of Africa’s wealth hierarchy, Abdul Samad Rabiu, Chairman of BUA Group, has climbed to the position of the continent’s second richest individual. The development highlights the accelerating growth of his industrial empire and the increasing global relevance of Nigeria’s manufacturing sector.
Recent valuations show the billionaire businessman overtaking long-standing contenders to secure the number two spot, behind only Aliko Dangote. His rise has been driven largely by the strong market performance of his publicly listed firms, BUA Cement Plc and BUA Foods Plc, both of which have recorded significant gains on the Nigerian Exchange (NGX).
Rabiu’s ascent reflects years of strategic expansion and vertical integration. BUA Cement, Nigeria’s second-largest cement producer, has scaled up operations with new production lines to meet rising infrastructure demand. At the same time, BUA Foods has strengthened its leadership in key segments such as sugar, flour, and pasta, reinforcing its role in regional food supply.
Analysts note that his focus on essential goods has provided stability, helping his businesses maintain steady revenues despite broader economic fluctuations. By prioritizing domestic production, BUA Group has also reduced exposure to external shocks.
Philanthropy and Development Impact
Beyond business, Rabiu has earned global recognition for his philanthropic efforts through the ASR Africa Initiative, a $100 million annual intervention fund supporting education, healthcare, and social development across Africa.
His rise in the rankings is widely viewed as evidence of the power of African-driven industrialization—not only in building wealth but also in delivering meaningful social impact. As Africa’s economic landscape evolves, the shifting billionaire rankings underscore the growing influence of Nigeria’s private sector in shaping the continent’s future.
Bank
ZENITH BANK EXPANDS FRONTIERS WITH CÔTE D’IVOIRE SUBSIDIARY, DEEPENS FRANCOPHONE WEST AFRICA PUSH
ZENITH BANK EXPANDS FRONTIERS WITH CÔTE D’IVOIRE SUBSIDIARY, DEEPENS FRANCOPHONE WEST AFRICA PUSH
Zenith Bank Plc has taken a major step in its Pan-African growth journey with the official launch of its Côte d’Ivoire subsidiary, reinforcing its strategic ambition to dominate key markets across the continent.
The grand opening ceremony, scheduled for Wednesday, April 29, 2026, is expected to draw top-tier government officials and regulators from Nigeria and Côte d’Ivoire, alongside leading business executives and members of the diplomatic corps—underscoring the growing economic ties and investment flows between Anglophone and Francophone Africa.
Licensed in December 2025 by Côte d’Ivoire’s Ministry of Finance and Budget and regulated by the UMOA Banking Commission, the new subsidiary will operate from its headquarters at SCI Wall Street, Avenue Noguès, Plateau, Abidjan—one of the region’s most important financial hubs.
The move signals a calculated expansion into Francophone West Africa and positions Zenith Bank as a key financial bridge within the West African Economic and Monetary Union. The subsidiary is designed to drive cross-border trade, offering corporate banking, trade finance, offshore banking, and structured financial solutions tailored to businesses operating across Africa and beyond.
Speaking on the milestone, Group Managing Director/CEO Adaora Umeoji said the expansion aligns with the founding vision of Chairman Jim Ovia to build a globally competitive African bank.
“The launch of Zenith Bank Côte d’Ivoire is a bold step in realising that vision. It opens a strategic corridor into Francophone West Africa and reinforces our commitment to facilitating trade, investment, and enterprise growth across the continent,” she stated.
The subsidiary will be led by Managing Director/CEO Cédric Tano, who brings over two decades of industry experience. He noted that the bank is entering the Ivorian market at a time of strong economic momentum and increasing regional integration.
“Our goal is to position Zenith Bank as a customer-centric institution that blends global best practices with deep local expertise, while supporting businesses with innovative financing and enabling seamless cross-border transactions,” Tano said.
Beyond Côte d’Ivoire, Zenith Bank is accelerating its expansion into Central Africa, with plans underway to enter the Central African Economic and Monetary Community, using Cameroon as a strategic gateway.
With an established presence in multiple markets—including Ghana, Sierra Leone, The Gambia, the United Kingdom, France, the UAE, and China—the bank continues to strengthen its role as a conduit linking African economies to global capital and trade networks.
Founded in 1990, Zenith Bank has evolved into one of Africa’s most formidable financial institutions, maintaining the highest Tier-1 capital position in Nigeria’s banking industry for 16 consecutive years. Built on its core pillars of People, Technology, and Service, the bank has consistently delivered strong financial performance and earned widespread local and international recognition.
Business
ADVAN Wins Global Honour at WFA Awards for “Project Freedom” Initiative
ADVAN Earns Global Recognition As WFA President’s Award Winner For “Project Freedom”
The Advertisers Association of Nigeria (ADVAN) has been recognised on the global stage as a recipient of the prestigious WFA President’s Award, presented by the World Federation of Advertisers during its Global Marketer Week in Stockholm. The recognition places ADVAN among a select group of leading industry associations worldwide acknowledged for driving meaningful impact in marketing and society.
The WFA President’s Awards, established in 2010, celebrate national industry associations whose initiatives advance the marketer’s agenda and contribute to positive change. This year’s honours were awarded following a rigorous selection process involving 38 submissions from associations across the WFA’s global network, with winners chosen for their measurable impact and potential for replication across markets.
ADVAN’s recognition comes through its advocacy initiative, Project Freedom, a bold and strategic effort focused on addressing the challenges of stifling, non–data-driven regulations affecting businesses in Nigeria and across Africa. The initiative underscores the importance of evidence-based policymaking while championing the constitutional right to freedom of commerce.
Through Project Freedom, ADVAN has taken a proactive leadership role in engaging key stakeholders and shaping conversations around fair, balanced, and transparent regulation. The initiative reflects a shift toward constructive dialogue and collaboration, ensuring that regulatory frameworks support innovation, protect consumer interests, and enable sustainable business growth.
By earning this global recognition, ADVAN reinforces the growing influence of African marketing institutions in shaping international discourse. Its work highlights how local advocacy, when rooted in data and guided by clear principles, can deliver impact not just within national borders but across the global marketing ecosystem.
The award also affirms ADVAN’s commitment to strengthening self-regulation within the industry, fostering accountability, and promoting standards that align with global best practices while remaining relevant to local realities.
As the marketing landscape continues to evolve, ADVAN’s recognition by the World Federation of Advertisers signals a strong endorsement of its leadership and vision. It positions the association as a key voice in advancing responsible marketing, advocating for enabling policies, and ensuring that businesses can operate in an environment that supports both innovation and economic freedom.
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