Travel/Tourism
Ikeja Hotels Resumes Trading on NSE after Two-Year Suspension
By Dipo Olowookere
The nearly two-year suspension placed on the shares of Ikeja Hotels Plc has finally been lifted by the Nigerian Stock Exchange (NSE).
Consequently, equities of the hospitality firm can now be traded by investors on the floor of the NSE from Monday, May 21, 2018.
Executive Director in charge of Regulation at the stock exchange, Ms Tinuade Awe, in a ‘facts behind the restructuring’ document she released, explained that the suspension was removed after the company addressed some issues the regulator raised.
“We are satisfied with the work the Ikeja Hotels has done till date.
“This is an appropriate time to lift the suspension on the trading of the shares of the company.
“The expectation on the direction of the Quotations committee of council is that the trading on the shares will be lifted on Monday (tomorrow).
“The company had its AGM to clear the backlog of certain AGMs.
“It was this consideration that led the Quotation committee of NSE to decide that it is an appropriate time to lift the suspension,” Ms Awe explained.
Recall that on Thursday, November 10, 2016, authorities of the local exchange suspended trading in the shares of Ikeja Hotels Plc on its platform as of a dispute among the major shareholders of the company.
Ikeja Hotels Plc, which owns Lagos Sheraton Hotel, was embroiled in a crisis that led to removal of its chairman, Mr Goodie Ibru, early 2015 at an Extra-Ordinary General Meeting (EGM) by some shareholders.
According to the NSE, in order to safeguard shareholders of the company as the dispute had negatively impacted the company’s governance structure, it suspended the company in pursuant to the Provisions of Rule 15.45 of its Rulebook.
But Ms Awe said the new board had complied with the necessary regulatory requirements and had restored the company to the path of recovery.
The members of the board of Ikeja hotel Plc are Mr Anthony Idigbe, Mr Alex Thomopolus, Mr Waheed Olagunju, Mr Toke Alex Ibru, Mrs Fadeke Alamutu, Mr Kunle Aluko, Mr Ufuoma Ibru and Mr Abatcha Bulama.
Chairman of Ikeja Hotels, Mr Anthony Idigbe, said now the storm was over, the company would put in place a solid structure that would ensure that every issue concerning succession planning was tackled.
According to him, the management would intensify efforts to sustain investors’ confidence and return the company to its leadership position in the industry.
He said while the forensic auditing of the company was expected soon, the management would unlock the inherent value of the company’s going concern, assuring stakeholders that adherence to sound corporate governance, which was the hallmark of every well established hospitality business, would be followed strictly.
Additional information from NAN.
By Aduragbemi Omiyale
About 14.12 per cent stake in Ikeja Hotel Plc has been acquired by Honeywell Group Limited, a notice on the Nigerian Exchange (NGX) Limited has revealed.
Honeywell Group took up the part of the hospitality firm through one of its affiliates known as HGL Real Estate Limited.
Ikeja Hotel, in the disclosure filed with the NGX on July 2, 2026, said the stake comprised 305,323,525 units of its equities.
“Ikeja Hotel hereby notifies the Nigerian Exchange Limited and the general public that it has received notification from HGL Real Estate Limited, an affiliate of Honeywell Group Limited, that it has acquired 305,323,525 units of Ikeja Hotel Plc’s shares, representing 14.12 per cent shareholding in the company,” the notice stated.
Ikeja Hotel is one of Nigeria’s leading hospitality investment and hotel management companies with premium hospitality assets.
It operates two leading hospitality organisations in Lagos, the Sheraton Lagos Hotel and Balmoral Convention Centre.
By Aduragbemi Omiyale
About 10 hospitality establishments, including hotels and restaurants, were sealed on Wednesday by officials of the Lagos State Environmental Protection Agency (LASEPA).
The affected businesses are located in different locations in the Alimosho Local Government Area of the metropolis, Business Post learned from a statement from the agency.
It was stated that they were sealed by LASEPA for persistent violations of environmental regulations despite repeated warnings, abatement notices, and several opportunities to comply with the agency’s directives.
According to the notice, the enforcement exercise was carried out in line with the directives of the Lagos State government to ensure strict compliance with environmental laws and to safeguard public health.
The affected facilities were said to have breached various environmental regulations, including noise pollution, air pollution, unlawful discharge of untreated effluent, obstruction of official duties, among others.
LASEPA closed the premises of Granduer Meridian at Obasa Akiniyi Street, Oluwaga, Ipaja for non-compliance with the agency’s directives; Lasola (Spazio Bar), located on Ipaja Road, Fatolu Bus Stop, Ipaja, was sealed for noise pollution and non-compliance with directives; Millennium Restaurant, located at Gate Bus Stop, Ipaja, Ayobo, was shut down for non-compliance with directives; O2 Exquisite Suites & Tower on Jimoh Akinremi Street, Jimoh Bus Stop, Akowonjo, was sealed for non-compliance with directives; and Chirozz Hotel & Suites, located on Samuel Street, Akowonjo, by Vulcanizer Bus Stop, Egbeda, was closed for noise pollution and non-compliance with directives.
In addition, House 7 Hotel, located at Remi Akande Street, Egbeda, was sealed for non-compliance with LASEPA’s directives; House 48 on Isiba Oluwo Street, Egbeda, was sealed for non-compliance with directives; Exclusive Hotel, located at Ishan Kimishe, Akesan Bus Stop, was shut down by non-compliance with directives; Sabola Ventures Limited, Iocated at Km 11, LASU–Isheri Road, Igando, was shut down for operating without evidence of an Effluent Treatment Plant (ETP), and discharging untreated effluent into public drains; and City Int’l Motel, located at Chief Olu-Adegbite Street, off Oladun Street, Council Bus Stop, Idimu, was sealed for non-compliance with directives.
By Modupe Gbadeyanka
Emirates has become the first airline cargo carrier to deploy the Boeing 777-300ERSF passenger-to-freighter converted aircraft.
The aircraft (A6-EBK) will enter commercial service with a flight from Hong Kong to Dubai carrying over 100 tonnes of cargo, a statement from the airline operator stated.
The converted Emirates Boeing 777-300ERSF offers 100 tonnes of payload capacity and 811 m³ of cargo volume, representing a 25 per cent increase in cargo volume over the Boeing 777-F production freighter.
At 47 pallet positions, the converted aircraft also accommodates 10 additional pallet positions when compared with the Boeing 777-F production freighter, making it ideal for transporting volumetric cargo such as e-commerce goods, which currently constitute around 20 per cent of global air cargo tonnage with further growth projected in the next few years.
The converted Boeing 777-300ERSF is the sixth new freighter, following five Boeing 777-F production freighters, to join Emirates SkyCargo’s fleet since March 2026.
As part of its ambitious expansion strategy, Emirates SkyCargo will also be taking delivery of five additional Boeing 777-F aircraft as well as one additional converted Boeing 777-300ERSF by December 2026.
Emirates SkyCargo will also be introducing three additional converted Boeing 777-ERSFs into its fleet in 2027.
“The induction of the first converted Emirates Boeing 777-300ERSF into operational service represents the next step in the expansion of our fleet and operational agility.
“We are optimising our fleet assets by converting older Boeing 777-300ER passenger aircraft to meet the growing demand for air cargo capacity to transport goods rapidly across the world,” Emirates SkyCargo’s Divisional Senior Vice President, Badr Abbas, commented.
“Combined with our growing fleet of Boeing 777-F production freighters, we have already been able to scale our global freighter network from just over 40 destinations in February this year to 62 destinations currently and growing.
“We are providing our global customers with scalable cargo capacity and ultimate flexibility and connectivity when moving cargo to and through our hub in Dubai,” Abbas added.
