Lagos begins demolition of burnt Balogun Market

The Lagos State Government on Friday began the demolition of the three buildings gutted by fire on Jan. 12 at the popular Balogun Market in Central Lagos.

The News Agency of Nigeria (NAN) reports that the demolition was being carried out by a firm, Blackrock Construction Company.

New SEC DG assures Nigerians of vibrant market

The acting Director-General, Securities and Exchange Commission (SEC), Mr Mounir Gwarzo,  has assured Nigerians of the commission's readiness to ensure a vibrant capital market that will attract both local and international investors.

This is contained in a statement issued by the commission in Lagos on Wednesday.

Capital market operators urge FG to appoint professional as Oteh's replacement

Some capital market operators have urged the Federal Government to appoint a seasoned stock market operator as a replacement to Ms Arunma Oteh, as the Director-General of the Securities and Exchange Commission (SEC).

According to them, the appointment of an experienced capital market operator would facilitate sustained wooing of local investors into the market.

Police arrest businessman for selling Aswani market for N83m

The Nigerian police have arrested a businessman, Cyprian Nwankwo for allegedly selling four plots of land mapped out by the Lagos State government for the construction of Aswani market to his partner, Monday Chinke for the sum of N83m in Isolo, Lagos state, Western Nigeria.

The Abia-born Nwankwo, who is the managing director, Advance International Merchant Limited allegedly sold the land to his business partner, elder Chinke, who was a shareholder in the company.

After he sold the land and prepared a deed of transfer, it was discovered that the land was earmarked for the construction of Aswani market by the state government.

The police at Zone 2 Onikan arrested Nwankwo after it investigated the ownership of the land and discovered that the land belonged to Lagos state.

Ladipo Market To Be Shut Saturday for Voters Card

The leadership of Ladipo Auto Spare Parts market in Mushin Lagos state, Western Nigeria has ordered the closure of the market Saturday to enable the traders to register in the ongoing voters registration going on in Lagos state.

The president of the central body of the market known as Ladipo Auto Central Executive Committee, LACEC, Mr Ikechukwu Animalu said the market took the decision to ensure that traders performed their civic responsibility.

He said that the market will be closed all through Saturday and will reopen on Monday next week.

He said all shops and warehouses should remain closed till the time it is agreed to reopen, advising the traders to ensure that they registered.

He appealed to their numerous customers to show understanding and accommodate the decision because the decision was taken in the interest of Nigeria.

Animalu said the market have been mobilizing the traders and explained that the PVC is their power to vote for their choice.

He used the occasion to appeal to the Lagos state government to come to the aid of the traders by repairing roads leading to the market.

He noted that the traders and customers are passing through hard times because of the bad roads, noting that they are losing importers to other markets because of the trucks bringing containers usually fell down because of bad roads.

He commended Governor Babatunde Raji Fashola’s administration and urged him to do more on the Ladipo market roads.