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After #EndSARS looting, Shoprite reopens its Circle Mall store, shuts down Maryland

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2 years ago

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Retail Supermarket Nigeria Limited (RSNL), owners of Shoprite in Nigeria, has announced plans to reopen the Circle Mall store.

The store, located in Jakande, Lagos, was closed down after the vandalism that result from the EndSARS protests in October 2020.

Tayo Amusan, chairman of RSNL, announced the development this morning.

The Maryland store will now be closed — coming months after Ketron Investment Limited, a subsidiary of Persianas Investment Limited which is owned by Amusan, completed the acquisition of Shoprite’s operations in the country.

“We have made the difficult, but necessary, decision to discontinue business operations from Maryland for now,” he said.

“We thank the surrounding community for years of patronage and loyalty. Our commitment to Lagos state is unwavering and we look forward to providing area shoppers with enhanced shopping experiences in the future.

“RSNL is looking to achieve faster growth, have greater impact, and allocate resources, including its workforce (comprising 2,000 workers, 99 percent of whom are Nigerian citizens) to more profitable investments.

“Since acquiring the business in June 2021, we have achieved very impressive, above inflation, growth in sales and are looking to build on that success while continuing our investment in different parts of Nigeria, with the support of our stakeholders.”

Speaking on the reopening of the store at Circle Mall, Amusan said it is an indication of the company’s commitment to growing the Nigerian economy, adding that RNSL will continue to expand its operations across the 11 states and the federal capital territory (FCT).

“We’re excited to be reopening after a long hiatus. We have had tremendous support and we are looking forward to once again opening our doors to our customers in the Jakande, Lekki area and its environs,” he said.

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Business

FAAN begins sale of e-tags at airports

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18 hours ago

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May 17, 2024 11:59 am

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The Federal Airport Authority of Nigeria (FAAN) has begun the sale of electronic tags (e-tags) at airports.

In a statement on Friday, FAAN said this initiative is in line with the presidential directive that mandates the use of e-tags for accessing the nation’s federal airports.

“Following the presidential directive that all citizens are mandated to pay for e-tags at all the 24 federal airports across the country, we wish to inform the general public that the e-tags are available for sale from Friday, 17th May, 2024 at the following locations,” FAAN said.

“Lagos: Murtala Muhammed International Airport Lagos, Terminal 1, 5th Floor) Office of HOD Commercial. Contact: 08033713796 or 08023546030.

“Abuja: Nnamdi Azikiwe International Airport, HOD Commercial Office (General Aviation Terminal) Contact: 08034633527 or 08137561615.”

FAAN said there will be an option to pay in cash at the access gates for motorists without e-tags.

On May 14, Festus Keyamo, minister of aviation, announced everyone, including the president and vice-president, would pay tolls at the nation’s airports.

Keyamo said the government was losing over 82 percent of the revenue it should have earned from the access fee.

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Business

Emirates Airlines return to Nigeria October 1

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2 days ago

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May 16, 2024 12:45 pm

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Emirates Airlines has confirmed its return to operations in Nigeria starting October 1, 2024.

The airline disclosed this via its official X handle Thursday.

“We’re back, Nigeria! We’ll be resuming services to Lagos from 1 October 2024, and we can’t wait to offer unrivalled connectivity to Dubai and beyond to over 140 cities,” the tweet read.

The airline will be operating a daily service between Lagos State and Dubai, and will offer customers more choice and connectivity from Nigeria’s largest city to, and through, Dubai.

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Naira appreciates at official window, depreciates at parallel market

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2 days ago

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May 16, 2024 8:33 am

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The naira depreciated to N1,550 against the dollar at the parallel section of the foreign exchange (FX) market on Wednesday.

The current FX rate signifies a decline of 1.95 percent from the N1,520/$ reported on May 13.

Currency traders, also known as street traders, in Lagos, quoted the buying rate of the local currency at N1,510/$ and the selling rate at N1,550/$ — leaving a profit margin of N40.

At the official window, the local currency appreciated by 4.21 percent against the dollar from N1,520.4/$ on May 14 to close at N1,459.02 on Wednesday.

According to FMDQ Exchange, a platform that oversees the official window, a dollar was sold as high as N1,593 and at a low rate of N1,401 during trading hours.

The daily foreign exchange market turnover was $289.14 million.

On May 14, the Economic and Financial Crimes Commission (EFCC) said foreign missions based in Nigeria use third parties to transact in foreign currencies.

Speaking during an interview, Wilson Uwujaren, EFCC’s acting director of public affairs, said the commission has a task force whose duty is to fight the abuse of the naira and discourage transactions in dollars within Nigeria — which is against the law.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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