SEC okays RT Briscoe's N10bn fund raising plans – Newstrends
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SEC okays RT Briscoe’s N10bn fund raising plans

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SEC okays RT Briscoe’s N10bn fund raising plans

 

RT Briscoe Nigeria Plc has secured approval of the Securities and Exchange Commission to raise N10bn through a newly introduced savings and investments scheme.

Group Managing Director/Chief Executive Officer of RT Briscoe Nigeria, Mr Seyi Onajide, disclosed this in Lagos during an interactive session with journalists.

He also spoke on the company’s commencing the conversion of petrol/diesel vehicles to run on compressed natural gas.

Onajide in a statement said the savings and investment scheme would allow the rich, semi-rich, and the poor to participate in the N10bn fund raising.

The scheme is open to both existing RT Briscoe’s 43,000 share holders and non-share holders.

Onajide said the investment would go to a trustee, already set up by SEC, who would keep the invested sum with interest until the trustee calls a meeting of all subscribers to decide if their money should be converted to Briscoe shares or not.

“The savings and investment initiative gives opportunities to all interested parties to grow funds either to buy Briscoe shares or not. There will be additional benefits for those who end up choosing to buy Briscoe shares,” he said.

He said RT Briscoe remained committed to meeting its debt repayment obligations to banks coming with interest and charges, but promised that the debt would be resolved before converting the savings into shares.

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Why Lagos govt sealed Cubana Chief priest’s food outlet – Commissioner

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Cubana Chief Priest

Why Lagos govt sealed Cubana Chief priest’s food outlet – Commissioner

The Lagos State Environmental Protection Agency (LASEPA) has sealed Donald’s Fast Food, a restaurant owned by Pascal Chibuike Okechukwu, also known as Cubana Chiefpriest, due to persistent noise pollution and environmental violations.

The fast food outlet, located on Adebayo Doherty Street, Lekki 1, was closed by LASEPA after failing to comply with environmental regulations despite several warnings and abatement notices.

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Lagos State Commissioner for Environment and Water Resources, Tokunbo Wahab, announced the closure on Sunday via his social media handle, stating: “After several warnings and abatement notices, LASEPA sealed Donald’s Fast Food on Adebayo Doherty Street, Lekki 1 over noise pollution and other environmental infractions.”

Why Lagos govt sealed Cubana Chief priest’s food outlet – Commissioner

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More flooding coming, FG warns states, residents, assesses Borno situation

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More flooding coming, FG warns states, residents, assesses Borno situation

The Federal Government has clarified that the recent flooding near the Alau Dam in Borno State was not due to a collapse but rather excessive rainfall and climate change impacts. Speaking at a press conference in Abuja, the Minister of Water Resources and Sanitation, Prof. Joseph Utsev, offered condolences to the people of Borno State and warned that the worst of the flooding is not yet over, with more water expected.

The minister reminded the public that flood risk assessments identified 31 states, including Borno, as high-risk areas. He emphasized that technical teams from various government agencies, including the Chad Basin Development Authority, are currently assessing the damage and devising solutions.

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Prof. Utsev cautioned residents about the potential risks of contaminated water and the spread of waterborne diseases. He also expressed concerns about potential river flooding along the Niger and Benue rivers, urging states to remain alert and take preventive measures.

The Federal Government, with President Bola Ahmed Tinubu’s approval, has allocated N108 billion for flood prevention efforts across the 36 states. The minister called on state governments to follow early warning systems and implement preventive actions to minimize the impact of future floods.

In addition, the minister explained that many dams across the country are struggling to manage the excess water caused by increased rainfall. As part of the government’s long-term response, plans are underway for dam rehabilitation, with budget allocations set for 2024 and 2025. He assured affected communities that the Federal Government remains committed to supporting and preventing further disasters.

More flooding coming, FG warns states, residents, assesses Borno situation

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Eguavoen denies resigning as Super Eagles coach

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Super Eagles interim coach, Augustine Eguavoen

Eguavoen denies resigning as Super Eagles coach

Super Eagles interim coach, Augustine Eguavoen, has confirmed that he remains in charge of the three-time African champions. Eguavoen, speaking to OwnGoalNigeria, clarified that his current assignment was limited to overseeing two matches in the ongoing 2025 Africa Cup of Nations qualifiers against Benin Republic and Rwanda.

He stated, “I have been given a mandate to handle two games. I am very pleased with the boys, and again, thanks to the NFF leadership and all the boys who supported me in terms of discipline and working hard.” Eguavoen explained that his mandate ended after the two games, adding, “I can’t talk about Libya because I haven’t been told, but I can discuss it a little in case another coach takes over.”

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Upon his arrival at Nnamdi Azikiwe International Airport, Abuja, on Wednesday, Eguavoen, known as “Cerezo,” denied reports that he had resigned from his position. He clarified that he only intended to discuss with the leadership of the Nigeria Football Federation (NFF) about how to proceed with the remaining qualifiers.

“It’s quite unfortunate that people spread incorrect information. The situation we are in now does not need negative stories. I only mentioned that I would meet with the Federation’s hierarchy after these two games to plan for the next ones. When I saw the reports, I was worried. What people are reading is not correct. I am still very much in charge as the technical director of the federation and responsible for the Super Eagles at this moment,” Eguavoen explained.

Eguavoen was named interim coach after German coach Bruno Labbadia declined the role due to disagreements over tax payment terms. Under Eguavoen’s leadership, the Super Eagles secured a 3-0 win over the Cheetahs of Benin and a 0-0 draw against the Wasps of Rwanda in the 2025 Africa Cup of Nations qualifying series.

Eguavoen denies resigning as Super Eagles coach

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