Tag: Goodie Ibru

  • Send forth for Goodie Ibru

    Send forth for Goodie Ibru

    The family, business associates and well-wishers of renowned front liner in the Hospitality sector, Mr. Goodie Ibru, will send him off today at the Sheraton Hotels in Ikeja, Lagos.

    A seminar, book presentation and a cocktail reception have been lined up with the ceremony.

    Ibru, a holder of the national award of Officer of the Order of Niger (OON), steps down as the founding Chairman of Ikeja Hotels Plc.

    The development draws a curtain on his rich career of almost 50 years in the Hospitality sector.

    The book, titled: Law, Tourism and Hospitality, edited by Mr. Ibru alongside Dr. John Akintayo of the University of Ibadan (UI), Dr. Nwudego Chinwuba of the University of Lagos (UNILAG) and Mr. Lanre Idowu, CEO, Diamond Publications, makes a case for stronger interest in the hospitality and tourism sector to boost the economy and utilise other lucrative areas of growth.

    Besides, a lecture, titled: Nigerian Business Climate: Challenges of An Under-Exploited Economy, will be delivered by a professor of Law, Labo Popoola, of the Osun State University in Osogbo, with

    the trio of Dr Remi Oni, Executive Director of First Bank of Nigeria Plc; Mr Yomi Badejo-Okusanya, Managing Director of CMC Connect and Prof Joe Abugu of the Faculty of Law at UNILAG as discussants.

    The occasion will also celebrate Mr. Ibru’s delayed 75th birthday.  Ibru, lawyer and principal partner at GM IBRU & Co., has several decades of experience as a major player in the hospitality industry, including a distinguished career at the Bar.

    The outing will round off with a cocktail featuring African Classical Rhythms, Culture and Arts at the same venue.

  • Goodie Ibru resigns as Ikeja Hotels Plc chairman

    Goodie Ibru resigns as Ikeja Hotels Plc chairman

    Ikeja Hotels Plc Chairman  Mr. Goodie Ibru has resigned from office.

    It came barely two months after securing victory in court as the authentic chairman of the hotel.

    Ibru, recipient of the national honour of Officer of the Order of the Niger, said he decided to take the move in the interest of the company and the Ibru family.

    Ibru, in a statement, anchored his decision on the need to get Ikeja Hotels to perform statutory functions, which have been impossible as a result of multiplicity of law suits by shareholders in the contest for the management and control of the company.

    He was unhappy the company was recently delisted by the Nigeria Stock Exchange, adding that he could no longer watch the company and its shareholders, who kept faith with the firm, continue to suffer due to the board crisis.

    He stated that the decision of Justice Kafarati of the Federal High Court, Abuja, confirming him as chairman “vindicates his struggle for corporate governance and provides right timing for him to retire as founding chairman after 32 successful years in office”.

    He called on the younger generation of Ibrus to work with other shareholders to continue to carry on the torch of excellence for which Ikeja Hotels was known for.

    He added that the Ibru family has gone through a tough phase in the recent past and as the only surviving son of the first generation of Ibrus, he “is more committed to working with his sisters on keeping the family united”.

    The statement ended on the assurance that the company will in due course release further details of his retirement.

  • Court rules on Ibru’s bid to quash charges February 15

    Court rules on Ibru’s bid to quash charges February 15

    A Lagos High Court sitting in Ikeja has fixed February 15, 2017 for ruling on an application filed by a businessman, Mr. Goodie Ibru and three others seeking to quash charges filed against them by the Economic and Financial Crimes Commission (EFCC).

    The court presided by Justice Raliat Adebiyi adjourned the matter after counsels to parties had made their submissions to the court.

    Mr. Ibru is facing an 11 -count charge alongside three companies – Associated Ventures International Limited, IHL Services Limited and Clearview Investment Limited preferred against them by the EFCC for allegedly conspiring to steal various sums belonging to Ikeja Hotel Plc.

    The EFCC said Mr. Ibru and others allegedly committed the offence between 2010 and 2015.

    During proceedings on Tuesday, counsel to the defendants, Mr. O.Akoni (SAN) told the court of his pending application dated November 28, 2016 in which they are praying the court to strike out the charges.

    Mr. Akoni said the application is supported by  four- paragraph affidavit and written address and urged the court to grant the defendants’ prayer.

    EFCC counsel, Mr. Ayokunle Fayanju, in his response, asked the court to dismiss the defendants’ application to quash the charges.

     

  • EFCC declares Goodie Ibru wanted for alleged capital market fraud

    EFCC declares Goodie Ibru wanted for alleged capital market fraud

    The Economic and Financial Crimes Commission (EFCC) yesterday declared a business mogul, Mr. Goodie Ibru wanted over alleged capital market fraud.

    It was gathered that the anti-graft agency is after Ibru over alleged lingering crisis on shares in Ikeja Hotels Plc.

    According to a statement by the Head of Media and Publicity of the EFCC, Mr. Wilson Uwujaren, Ibru is also wanted for alleged money laundering.

    The statement said: “The public is hereby notified that Goodie Minabo Ibru is wanted by the EFCC in connection with a case of conspiracy, capital market fraud, stealing, diversion of funds and money laundering.

    “He diverted billions of Naira and assets of Ikeja Hotels Plc, owners of Sheraton Hotel, Lagos; Federal Palace Hotel and Capital Hotel; owners of Sheraton Hotel Abuja to his personal benefit.

    “Anybody having useful information as to his whereabouts should contact the commission through any of its offices located at Abuja, Kano, Gombe, Lagos, Ibadan, Maiduguri and Port Harcourt.”

    A highly-placed source in EFCC said: “We have served summons on Ibru but he is yet to respond to our invitation. This is why we have declared him wanted.

    “I think it is a board crisis which has made many shareholders to write a formal petition to the EFCC.

    “Also, the Federal Government through the Bank of Industry has about 13.1 per cent stake in the conglomerate. So, the government’s funds are trapped too.”

    There had been a crisis of confidence among shareholders of Ikeja Hotels Plc in the last one year.

    Armed with a Federal High Court order, some shareholders, led by Mrs Maiden Ibru, the widow of The Guardian publisher, Mr Alex Ibru, held a controversial Extra-Ordinary General Meeting outside the Sheraton hotel premises on January 6, 2015.

    But Ibru, leading other members of Ibru family, obtained an ex parte injunction from the Federal High Court, Abuja to restrain Mrs. Ibru from “calling an EGM or representing her late husband’s investment vehicle holding shares in Ikeja Hotels Plc.”

    Some shareholders later purportedly sacked Goddie Ibru as the chairman and director of the company over corporate governance infractions.

    They also picked Mr Olumide Braithwaite and Mr Tunde Sarumi as directors of the company.

    KPMG Nigeria Ltd was mandated conduct a forensic audit of the management of the company from 1999 to 2014 when Mr. Goodie Ibru was the chairman of Ikeja Hotels Plc

    But Ibru, who said he would challenge his purported removal in court, said: “In the first place, the so-called EGM was not properly convened. We have over 14,000 shareholders, none of whom was issued with the notice required by Sections 220-222 of CAMA (Companies and Allied Matters Act), nor were they afforded the opportunity to appoint proxies to vote in their stead.”

  • Lithuania celebrates in Lagos

    A cocktail party to mark the 2014 Lithuania National Day in Nigeria will be hosted by the Honorary Consul of Republic of Lithuania in Nigeria, Mr Goodie Ibru, on Sunday, at the Federal Palace Hotel and Casino, Victoria Island, Lagos.

    The yearly event will attract captains of industry, diplomats and other dignitaries.

  • Nigeria’s economy doing well, says Ibru

    • Ends tenure

    The Lagos Chamber of Commerce and Industry (LCCI) has praised the country’s economic growth in the year.

    Its outgoing president, Mr. Goodie Ibru spoke at the chamber’s Annual General Meeting (AGM) in Lagos.

    Ibru, who stepped down at the AGM, said when compared with the global output growth rate of 3.5 per cent, the country’s growth performance could be considered satisfactory.

    He said: “Economic and business performance in the year was mixed. According to the National Bureau of Statistics, Gross Domestic Product growth rate for the second quarter of 2013 was 6.18 per cent as against 6.56 per cent in the first quarter and 6. 39 per cent recorded in the second quarter of 2012.

    “However, when compared with global output growth, the Nigeria growth performance could be considered satisfactory. But from our perspective as private sector player, the economic conditions were difficult and the challenges of doing business remained formidable.”

    Ibru added that the business environment was characterised by high cost of doing business, with constraints in poor infrastructure, cost and access to funds, depreciation of the naira, influx of substandard products and smuggling.

    “Ours is the second largest economy in Africa with over $300billion GDP, what we lack is the capacity to harness these opportunities for our common good. However, some progress has been made in charting the right course,” he said.

    According to Ibru, the chamber acknowledges the efforts of the Federal Government to contain issues that are negatively impacting the business environment.

    Ibru also described his tenure as the president of LCCI as “challenging but exciting”, adding that it was an opportunity to contribute to the development of the chamber, the private sector and the country’s economy in general.

    “It is my sincere hope that our sectoral groups and service committees will become even more active in promoting lively and constructive debate on important and relevant business issues in the future,” he said.

    The chamber appointed a former deputy president, Alhaji Remi Bello as the new president while Chief Nike Akande and Mr. Knut Ulvmoen were appointed his deputy.

  • Bakare, others tackle corruption

    Prominent Nigerians and opinion leaders, including Pastor Tunde Bakare of Latter Rain Assembly, Lagos, have called for measures to reduce corruption in every facet of the nation’s life, especially the economy.

    They spoke in Lagos at this year’s annual summit of HR Guide, tagged: The Role of the Organised Private Sector in the Quest for a Corrupt-Free Nation.

    A public affairs analyst and consultant Alhaji Mahmood Othman said corruption is a by-product of indiscipline.

    He said: “Once you are a leader, who is infallible, everything will fall into place.”

    The consultant decried the high level of corruption in the private and public organisations, saying it was a clog in the wheel of the nation’s progress.

    Othman, however, said the nation could reduce acts of malfeasance and corruption, even if it could not be eliminated altogether.

    The President of the Lagos Chambers of Commerce and Industry (LCCI), Dr. Goodie Ibru, who was represented by the Director-General of the chamber, Mr. Muda Yusuf, identified corruption as the agent suffocating private sector’s activities and entrepreneurship.

    Ibru said corruption was also perpetuating the dominance of an inefficient public sector and undermining economic diversification and structural transformation.

    A lawyer, Dr. Babatunde Ajibade (SAN), corruption compounded the nation’s problems.

    He noted that “corruption has become a disease” in the country because it appeared to be infectious among the people.

    The lawyer noted that several people envied Nigerians riding flashy cars without caring to know the sources of their wealth.

    Ajibade said: “Why should you envy a man in a convoy?”

     

     

     

    The senior advocate said the Judiciary was the least funded arm of government.

    He said self-examination and cleansing should be the beginning of the solution to the national malaise.

    The guest speaker, Pastor Bakare, who was represented by Idoreyen Enang, noted that until every Nigerian was respected for being a Nigerian and not on the basis of his or her state of origin, corruption would remain intractable.

     

     

    Bakare said: “The private sector should be under check and hotlines connected to anti-graft agencies, such as the Independent Corrupt Practices and Other Related Matters Commission (ICPC) or the Economic and Financial Crimes Commission (EFCC).

    “Until the people inside are given the opportunity to speak to the people outside, corruption can’t be checked. When you lose your voice, you’ve compromised. There should be a reason for joint and personal accountability.

    “Leadership is a reflection of self; you have to mirror it. Let there be a law or hotline through which complaints can be made from an establishment to the regulatory and anti-corruption agencies. This will reduce corrupt tendencies.”

    The Managing Director of HR Derivatives, the organisers of the summit, Mr. Napoleon Omomila, said the second annual summit was dwelling on corruption because it affected the foundation of employment generation, organisational profitability/productivity, national growth and development.

    He said: “I have heard in some quarters that corruption is now fully entrenched in Nigerians; that discussing it is more or less a waste of time. Some have also said that organisations have found ways to incorporate corrupt practices into their system as part of their strategy to ensure survival in this very tough business environment. But I beg to disagree, because there still exist some well-meaning Nigerians and organisations that have not been compromised, that have maintained their integrity and still are making significant progress in their endeavour.

    “In fact, it’s most definitely certain that whatever you acquire through corruption, either as an individual/or organisation cannot endure. So, if we all know that those things we acquire by corrupt means do not endure, then is it not better for all of us to find ways to ensure we leave enduring and lasting legacies in the sands of time through corrupt-free business practices? Most people and organisations find it very easy to point fingers at government. They forget that it takes two to tango; except for a few cases of individual’s direct stealing or theft.”