Tag: Resort

  • Resort to arbitrariness

    With the 2019 general elections near, there is every reason to worry about the resort to arbitrariness by those in power especially in their desperation to have a controlled demolition of their opponents. Amongst the three arms of government, the worst culprit is the executive, which controls the coercive powers of state, as its officials could in their desperation to win the next election at all cost be tempted to use the apparatus of executive power in a manner that smacks of arbitrary conduct. When that happens, the first casualty is the rule of law.

    Last Sunday, an FM radio station, in Ibadan, was partially demolished by the government of Oyo State in a manner that smacks of arbitrariness. According to reports, the owners of the station were given few days’ notice of alleged contravention of the state town planning laws, a contravention they denied and challenged in court. Despite the challenge, and the pendency of an ex parte application, which is reportedly slated for determination yesterday, Monday, the officials of the state, very early on Sunday, August 19, allegedly resorted to self-help in flagrant abuse of the rule of law.

    This column joins other Nigerians to condemn the hasty demolition of the radio station, more so, as there are claims that the action was tainted by political malice, over unfavourable broadcasts by the FM station. There is also the social angle about the person who owns the radio station, which scurried more sympathy for the station, with unprintable abuses rained on the state government, led by Senator Abiola Ajimobi. Each time a governor is accused of malice in demolishing the building of perceived political opponents, I always worry deeply about the management of the affairs of such a state.

    For me, a state executive with a mind-set to demolish a structure, merely because of perceived political differences, gives the impression that such a chief executive could be having some psychological challenges. Mores so, for a government that would be out of power in a few months, it smacks of poor judgment, to write the history of its last days in office, in such a controversial manner. It is such poor sense of judgment, particularly of the transiency of power, which gives me greater concern about the capacity of such state official in the management of the state, even in other matters.

    I recall a similar demolition exercise, few months ago, by the belligerent governor of Kaduna State, Mallam El Rufai, for clearly political differences. There, despite public condemnation of the threat, the governor went ahead to seize the site, demolish the property of his political opponent and has reportedly given it out to another developer. While a contravention of state town planning law could be a good reason to demolish and remove a permanent structure, especially for overriding state interest like the blockage of a drainage, there can be no justification to use it as a punishment for perceived political opponents.

    As far back as the 13th century, a famous Philosopher Henry de Bracton, wrote: “The king himself ought not to be subject to man, but subject to God and to law, because the law makes him king.” The governor or any state official is only that because the law says so, otherwise he is ordinary, like the victims. So, it smacks of impertinence to ride rough shod over the same laws that give the governor or other state official, the legal cover to be treated differently. A democratically elected governor must be subject to law, because the law made him governor.

    No doubt, it is a mockery of our constitution and other extant laws, when state officials resort to self-help and ignore the pre-eminence powers of the court, as the legitimate arbiter in dispute between state and citizens as provided in section 6(6)(b) of the 1999 constitution (as amended). It is indeed shameful when a state rushes to beat the rule of law, by destroying the subject matter of a dispute (res), as alleged with respect to the FM station in Ibadan, in the early hours of a Sunday, just to avoid the constitutional intervention of the court, as guaranteed by the constitution. For me, any state official, involved in such despicable abuse of the rule of law, should hide his head in shame, for ridiculing the democracy we profess.

    As far back as 1885, a United Kingdom Professor of Law, A. V. Dicey, in his book titled: ‘Introduction to the Study of Law of the Constitution’, gave three principles on the Rule of Law. First, “the absolute supremacy or predominance of regular law as opposed to the influence of arbitrary power, and excludes the existence of arbitrariness, of prerogative or even of wide discretionary authority on the part of government.” Secondly, the rule of law “means equality before the law, or the equal subjection of all classes to the ordinary laws of the land administered by the ordinary courts.”

    Finally, according to Dicey, the rule of law is “a formula for expressing, the fact that the law of the constitution, the rules which in foreign countries naturally form part of a constitutional code are not the source but the consequence of the rights of individuals, as defined and enforced in the courts.” Before the property of Citizen Yinka Ayefele, was destroyed in Ibadan, last Sunday, did the state officials involved test their actions against the lucid principles enunciated by the learned author, and backed by the 1999 constitution and other local and international laws applicable in the state?

    In the days ahead, Nigerians will want to hear the explanations the government of Governor Ajimobi would offer for the demolition of last Sunday, of all days. Perhaps, if the owners of the FM station approaches the court, the propriety or otherwise of the act, will be determined. As held in the case of Caltona Ltd vs Commissioner of Works and Others, “All the courts do is to see that the power which is claimed to be exercised is one which fall within the four corners of the powers given by the legislature and to see that those powers are exercised in good faith. Apart from that, the courts have no power at all to inquire into the reasonableness, the policy, the sense or any other aspect of the transaction.”

    If the state officials didn’t observe the principles, or obey the dictates of rule of law, a fundamental threshold upon which a democratic government is built, then they deserve the condemnation trailing the show of power. Governor Ajimobi may not be the only executive exposed to temptation of arbitrariness, in these politically trying times. But the mark of a democrat is to resist such temptation, even though the temptation to gain advantage at all cost will keep increasing as the election draws nearer. Officials must remember that if the house falls, everything falls with it.

  • Resort Group appoints executive director

    The board of the Resort Group has announced the appointment of Mr. Rodger Whittle as its new Group Executive Director.

    A statement by the spokesman for Bi-Courtney Aviation Services Limited (BASL), a member of the Resort Group and operators of the Murtala Muhammed Airport Two (MMA2), Steve Omolale, quoted the board as saying that “Whittle is coming with a rich experience in the aviation industry, having been part of the foundation of Nationwide Airlines Ltd in South Africa for more than a decade before leaving as the Chief Operating Officer in 2008. He was until recently a Senior Vice-President, International Operations, for Arik Air International Ltd.”

    The board said: “The new executive director will, among others, lead the expected turnaround efforts towards ensuring that the commercial objectives of MMA2 are met, while maintaining the vision and mission of providing high standard and service delivery as the best operating terminal for passenger facilitation in Nigeria. He will also be expected to explore opportunities in the aviation industry for the benefit of the company.”

    Whittle, a Canadian, said he looked forward to supporting the team of professionals at MMA2, as they strove to sustain the quality services the terminal was known for.

    Prior to becoming the Senior Vice-President in Arik Air, Whittle was the Vice-President, Southern and Central Africa of the airline between 2009 and 2013; Managing Director, Cabin Safety and Training Incorporation (1996-1997); Manager, Training and Development, Air Ontario, Canada (1987-1996); In-flight Service Manager, WadAir, Canada (1985-1987)and Manager, Cabin Services and Training, City Express Airlines (1983-1985).

    He is bringing into the group an experience spanning over 35 years.

  • American equity firm stakes N77b on Resort Savings

    Milost Global Inc-an American private equity firm is staking $250 million, about N76.5 billion, on Resort Savings & Loans Plc in another major acquisition after the American firm entered into a binding commitment to invest $350 million in Japaul Oil & Maritime Services.

    Milost, combining its traditional equity and debt approach, will be staking $100 million as equity capital and $150 million as debt capital. Already, Milost Global and Resort Savings have signed a commitment letter, giving the private equity firm the mandate to proceed with due diligence and other regulatory issues. The board of Resort Savings had approved the proposed transaction at its meeting on February 26, 2018.

    In a regulatory filing at the Nigerian Stock Exchange (NSE) yesterday, the board of Resort Savings indicated that the mortgage bank has executed a $250 million deal with Milost Global. The regulatory filing was signed by Managing Director, Resort Savings & Loans Plc, Mr Olayemi Rabiu and Chairman, Resort Savings & Loans, Senator Sunday Fajinmi.

    With the signing of the commitment letter, Milost Global will conduct due diligence on Resort Savings after which substantive agreement and other documentations will follow. The Central Bank of Nigeria (CBN) has been notified of the proposed transaction.

    The board of Resort Savings indicated that the transaction will be executed in phases through private placement to Milost Global and another local investor, which is currently undergoing approval process at the apex bank.

    “It is the belief of the board and management that the proposed investment will assist the bank in no small way in recapitalising the business, growing capacity and in becoming the leader in the mortgage finance industry. With this, we expect to be able to deliver impressive returns to our shareholders and satisfy the expectations of our other stakeholders in the very near future,” the board stated.

    The Nation had reported that Milost Global is seeking to invest more than $8 billion or about N2.6 trillion on Nigerian investments as a demonstration of the New York-based firm’s confidence in the Nigerian economy.

    Headquartered in New York City, Milost Global Inc is at the intersection of creative investing and value creation and has more than $25 billion in committed capital. Milost provides alternative capital, mezzanine finance, and alternative lending to a broad range of industries across the world including technology, transport, cannabis, education, distribution, mining, oil and gas, financial services, healthcare, pharmaceuticals, real estate, alternative energy and infrastructure development.

  • Don to ASUU: curb resort to strikes

    Former Executive Secretary, National Commission for Colleges of Education, Prof. Peter Lassa, has appealed to the Academic Staff Union of Universities (ASUU) to  reduce the use of strikes in pressing its demands in the universities.

    Lassa, a professor of Mathematics, spoke to reporters in Abuja on the ‘Sorry state of education in Nigeria’

    “ASUU needs to reduce strike actions. They should strike only when the issues are serious,” he said.

    Lassa, who noted that the level of basic education had fallen, added that the Universal Basic Education Commission (UBEC) is not doing enough to tackle it.

    “The UBEC is not meeting the goal that is intended. There is no infrastructure in schools. And the low quality of teachers in the country is worrisome,” he said.

    He also said politics between states and Federal Government was hampering the quality of education in the country.

    “The policy by the government should be laid down clear. Unilateral decision is creating problems for Nigeria’s education. Why should state governments establish universities when there is no basic education in their state?” he asked.

    Lassa called for academic and administrative autonomies for universities.

     

  • Wakanow signs MoU with UAE’s largest resort

    Africa’s leading travel portal, Wakanow, has signed an agreement with Dubai Parks and Resorts, becoming its largest African fulfilling partner for ticket sales.

    The Group Deputy Managing Director of Wakanow, Mr. Ralph Tamuno, who also happens to be the first African entrepreneur to set foot on the grounds of the wonder-packed resort, said the partnership would open a new vista of opportunities and unique experiences for the African traveller.

    Explaining how Wakanow was selected from a pool of travel companies in Africa, Mr. Tamuno said: “Beyond our strategic goal of always leading the way and shaping the travel business in Africa, we also collaborate with other market leaders from within and outside the continent to create value for our fast-growing travel market. Dubai Parks and Resorts is a massive investment and its owners clearly needed a partner with pedigree and panache. Wakanow was the natural choice for such a partner.”

    Speaking during the official signing of the Memorandum of Understanding between the groups, Head of Sales at Dubai Parks and Resorts, Mr. Elwin Kemming, described the partnership as a bold step in creating remarkable experiences for travellers from Africa.

    “Our partnership with Wakanow is a union of two widely admired tourism brands, joining forces together to provide memorable experiences for travel lovers globally. With deep-rooted presence throughout Africa, we are confident that Dubai Parks and Resorts can consolidate on Wakanow’s significant reach and foothold across the African market,” he stated.

    Dubai Parks and Resorts is the biggest multi-themed leisure and entertainment destination in the Middle East, comprising Motiongate Dubai, Legoland Dubai, Legoland Water Parks and Bollywood Parks.

    On October 31, the park will throw its gates open to the public and will feature over 100 mind-blowing thrill rides, spread across the spectacular four themed parks, each unique in their offerings and experiences.

    Wakanow is one of Africa’s leading online travel portals, providing seamless services in flights, hotels, travel deals and holiday packages to millions of travellers in Africa and beyond.

  • Ooni begins work on N7.6b resort in Ile-Ife

    Ooni begins work on N7.6b resort in Ile-Ife

    The Ooni of Ife, Oba Adeyeye Ogunwusi, has begun work on a N7.6 billion resort in the ancient town.

    The Ife Grand Resort & Leisure is sited near the Ile-Ife toll gate on the Ife-Ibadan Expressway.

    The project will be a replica but a far better model of his Inagbe Grand Resort in Lagos, built for N3.5 billion.

    A close associate of the monarch said the project, a seven-star hotel, would consist of 300 rooms.

    Facilities in the resort will include an artificial lake on which an 8,000-capacity floating bar will stand, spas, a golf course, three swimming pools, a lawn tennis court, an indoor sports hall, 30 horses and quad bikes for pleasure ride.

    The resort will also feature a children’s play centre, mud brick houses, and a 5,000- guest hall.

    Most of the materials to be used will be sourced from Ile-Ife and processed by the monarch’s factory.

    Operating under the corporate name Gran Imperio Limited, Ogunwusi’s company specialises in developing estates and resorts.

    The source added that the sites for other resorts had been acquired in Abuja, Port-Harcourt and Maiduguri.

    The monarch, in his speech after his selection, said he would embark on activities to develop Ile-Ife.

    Oba Ogunwusi is to be inaugurated as the 51st Ooni on December 7.

  • Resort Savings woos investors to real estate products

    Investors in real estate products stand to benefit from security of their investments and good and stable returns on their investments.

    Head, Treasury and Investment, Resort Savings and Loans Plc, Mr. Jeff Ejemai, said for many investors who may still be in a quandary as to where to invest their money, investment in real estate is the way to go. Ejjemai made this observation recently in Lagos while unveiling the company’s investment product.

    According to him, investment in real estate guarantees a great return for the investor as it affords individual investors opportunity to tap into the vast housing market.

    “There is a deficit in housing which government alone cannot cater for, which necessitates the need for the private sector to invest. Any investor who puts his money into housing project now will surely reap a good return,” Ejjemai said.

    Commenting on the bank’s investment product, he said the aim of the product was to extend the opportunity for investors to invest in real estate noting that such investors will not only get good returns on their investments but would also be able to save money in reliable assets.

    He explained that Resort Savings is offering investors opportunity to invest and earn return adding that a fixed deposit ranging from N500,000 to N2 million provided by the investor will be the basis of the investment for which a fixed rate of return will be paid to the investor in the form of interest at an agreed period not less than six months. Minimum interest rate of 15 per cent per annum will be paid to such investors.

    He said Resort Savings and Loans will use funds to finance residential properties being constructed in Lagos and Abuja and any other state capital.

    He added that once the bank gets to a particular milestone in terms of the required amount of funds from the investor, it will invest the funds in other portfolios, which include Treasury Bills and bonds apart from the real estate.

    He noted that the level of risk in the real estate business is low adding also that the investors have a rock sure assurance that their capital will be safe.

    “It should be noted that capital gains can also be realised when the property is sold, making real estate a relatively longer-term investment,” Ejjemai said.

    He pointed out that there is a ready market for the estates given the paucity of housing in the country.

     

  • La Campagne Tropicana  Resort  to open at Koton Karfe

    La Campagne Tropicana Resort to open at Koton Karfe

    La Campagne Beach Resort will opening its second property in Nigeria at Koton Karfe, Kogi State.  To achieve this, the community recently hosted a team of  La Campagne Tropicana Beach Resort management led by the president and founder of La Campagne, Otunba Wanle Akinboboye.

    It was a mix of culture and glamour at the palace of the  Ohimege Igu, Koton  Karfe, Alhaji Gambo Abdulrazak Isa Koto . The occasion was to formalise the birth of La Campagne Tropicana Beach Resort in the community and the presentation of the Certificate of Occupancy (CoF O) site and survey plan for the 90 hectares of land ,approximately 270 acres of land that the community has donated for the building of the resort.

    Addressing the emir and his people, Akinboboye, disclosed that the development was not only gratifying, but a historic event given that 30 years after La Campagne berthed at Ikegun Village, near Lekki, Lagos, as a solely African themed resort, the people of Koton Karfe is the second community to realise the importance of having La Campagne resort in their midst and had graciously gone ahead to donate an expanse of communal land for the project.

    He spoke glowingly of the uniqueness of the African themed resort, which he said is focused on promoting African cultural values and tradition, insisting that when people come to Africa and Nigeria by extension, they have come to experience the culture of the people hence he said that:

    ”We must take our culture and polish it and then take it into our hotels and resorts but we have so far failed in doing this and the people (tourists) are disappointed when they come because we only treat them to the cheap imitation of their own culture,” adding that ”it is only when you get other people to buy into your culture and experience it that you prosper and your culture endures.”

    Akinboboye spoke of the enormous economic benefits of hinging tourism development on the country’s culture, saying that ”when you build around your culture, you will empower your people.” Therefore, he said that the emir should be commended for his foresight and dedication to the welfare and development of his people and community.

    ”It is the empowerment of the people that the emir is promoting through the La Campagne project. The prosperity that will come to Koton Karfe will come from the visitors from the various parts of the world because we are going to build the resort around the culture of the Koton karfe community,” he said, adding that ”the advantage will be for the people of Koton Karfe because they are the owners of the culture.

    ”It is when you take advantage of your advantage, which is your culture that you have advantage over others. Nobody can promote your culture more than yourself and that is what we want to do with Koton Karfe culture,” he stressed ,even as he disclosed that the community would be the one to drive the project as it will create employment for them in every spheres.

    Citing the instance of the Ikegun Village where the resort in the last 30 years has brought tremendous physical and economic developments to the people with over 80 per cent of the personnel drawn from within the community.

    ”Eighty per cent of our staff are from Ikegun Village and they have been enriched and empowered through the services of the resort to the extent of having their own personal houses and many other economic benefits,”he said.

  • Resort Savings optimistic on mortgage financing

    Resort Savings & Loans Plc has expressed optimism that increased awareness about mortgage financing will enhance its prospects and enable it to meet expectations of its stakeholders.

    In a statement, Managing director, Resort Savings & Loans Plc, Mr. Abimbola Olayinka the bank would continue to create more awareness on mortgage financing as part of efforts to drive volume in the housing sector.

    According to him, the bank had been able to bridge the gap in housing deficit nationwide by its efforts as it has so far created over 4000 housing units in the last couple of years.

    He said the bank will continue to pursue the goal of addressing the housing needs of Nigerians.

    He expressed the willingness of the bank to ensuring that more Nigerians have access to affordable housing through provision of additional housing units with the backing of Nigeria Mortgage Refinance Company (NMRC).

    “The bank will continue to create more awareness on NMRC mortgage. We believe an increase in awareness will increase the patronage of our mortgage refinancing through Banks. Many Nigerians don’t know they could build houses through mortgage finance without necessarily having all the money at once. Our vision is to provide affordable and decent accommodations to Nigerians. We are not relenting in this drive. We want to be at the vanguard of solving the accommodation problem in Nigeria,” Olayinka said.

    He noted that the bank’s plan was to make available the housing units in the Lagos, Abuja andOgun state axis through mortgage; these according to him include the current development of 3 Bedroom semi-Detached duplexes at  Ikorodu , Lagos and 2 & 3 bedroom bungalows at Mowe Ofada, Ogun State.

    He stated further that in the bank’s bid to strengthen its position in the Mortgage sector, it is partnering with a lot of developers on either financing their project or providing mortgage facilities to the off- takers at affordable interest rates through NMRC scheme.

    Giving an insight into the existing and ongoing projects and partnership with developers,Olayinka said,, ’’the bank has  been able to fund housing estates including;  the Teju Royal Garden Estate in Okokonmaiko which has over 900 housing units, The Dream vile Estate,Owode-Ibese, Ikorodu Road, Dabis Royal Estate off Allen Avenue Ikeja, South-Drift in Lekki , Gracious Gardens. “

    Other ongoing projects for mortgage financing facility in the other parts of the country are also available to meet the yearnings of Nigerians.

  • Omu Resort: Redefining recreation and tourism

    Omu Resort: Redefining recreation and tourism

    The face of tourism could be about to change in Lagos as a N270m resort is about to open for business along the Atlantic Ocean in Nigeria’s commercial capital. WALE AJETUNMOBI reports.

    Apart from the scattered buildings and a throbbing market that dot its landscape, Omu community is a sleepy settlement in Bogije, a town in Ibeju-Lekki Local Government Area of Lagos State.

    With a single-straight road from Lekki-Epe Expressway through which the community can be accessed, Omu perhaps comes across as a community in doldrums. However, it is rich in rain forest, which serves as natural habitat for many wild animals and organisms. There is also a river that stretches from the community to the Atlantic Ocean.

    The atmosphere of lifelessness in the community may, however, soon disappear with a recreational centre being developed in the town. Sited in the heart of the community, Omu Resort is a recreational and tourism business centre established by Woodfields Farm and Theme Park.

    Two artificial giraffes welcomed visitors to the resort recently when spokesman of the company, Mr Olabisi Falase, conducted journalists round the facility, which sits on 22.4 Hectres of land. A few metres away from the main gate is an expansive receptionist office. Three classes of live snakes, including a young python, were on display at the reception.

    To the west of the office is a well-designed miniature golf course and quad biking track for relaxation. There is also a trail for Karting. On the other side is a multi-purpose hall and sea-world museum.

    Visitors are welcomed into the museum, which is yet to be completed, by statutes of former President Umaru Musa Yar’Adua, Asiwaju Bola Ahmed Tinubu and Governor Babatunde Fashola (SAN) with their trademark attires and attributes. The museum is fitted with a U-shape tunnel that showcases more than 40 different fish species peculiar to the Nigerian water.

    Falase said there were about 380 fish species that could be found in Nigerian waters. “When the museum is completed, we will showcase all the species for Nigerians to see,” he said.

    The fishes are placed into sizeable aquaria, which simulated their natural habitats. To make the excursion in the museum educative, facts about the fishes are inscribed beside the glass corrals. “Tourists don’t have to come and see alone, we also want to educate them about life and behaviour of all organisms on display here,” Falase said.

    By the Omu River bank is a large zoo that distinctively houses animals such as lions, terrestrial and water crocodiles, baboons, tortoise, jackals, hyenas, monitor lizards, ostriches and geese, among others.

    On what informed the choice of investment, Falase said the aim of the company was to educate the estimated 250,000 pupils that will be visiting the zoo annually about living organisms. He added that the resort also wanted to help in the conservation of endangered animals.

    He said: “What we want to achieve with this resort is not only to be a recreational centre but also an educational centre. We discovered that a bamboo tree has about 57 uses; how many people know that we can get a towel from a bamboo? I also don’t know whether people know that there are 37 different types of oranges. You can imagine such little things about life and our existence. This is why we are going extra length to educate visitors to the resort.”

    How much does the project cost? Falase said more than N270 million had been invested in the recreational project, saying the facility was “phase one” of the entire project. Sand filling of the site alone, he said, gulped N98 million, excluding the cost of land and construction work on the site. The company, Falase said, has concluded plan to extend the structure on the water front to make visitors’ experience worthwhile.

    He said: “This project would change people’s thought, particularly Lagosians, about relaxation. Some of them go to pepper soup joints to unwind and leave their children at home. No value is added. But if they visit the Omu Resort to learn new things about animals and non-living things, some knowledge would have been impacted in addition to the relaxation they have come to do.”