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Palton Morgan Appoints Interkel for the Construction of Clarence Gate of Banana Island

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Palton Morgan – a parent brand of Grenadines Homes has recently signed a contract with Interkel Nigeria Limited for the construction of Clarence Gate – one of the most Luxurious Apartments at Banana Island, Ikoyi, Lagos.

 

Speaking at the event, Nidal Turjman, the Group Chief Operating Officer/Executive Director, Palton Morgan Holdings, said that the company’s vision is to be a preferred real estate development brand in Africa and beyond.

With quality at the core of its operations, we are fully aligned to develop first-class projects that would meet the market’s expectations and unleash the country’s economic potential.

“Clarence Gate offers an exclusive and serene residence that defines luxurious living. It is an extraordinary project that delivers the exclusivity expected for a project at this level.

“To bring this magnificent property to life, we carefully selected reputed and qualified firm in the construction industry while having project management consultant on board, making our objective to exceed our customers’ expectations”, Turjman added.

Olise Barnabas, the Director, Group Strategy & Business Development, Interkel Nigeria Limited, expressed his delight at the opportunity to work with Palton Morgan for the first time on the Clarence Gate project and also commended the group for their professionalism:

“I am excited to work with Palton Morgan. They are very professional and organized in the way they work. They are also precise, and at Interkel, we cherish professionalism, which is why we decided to work with them.”

“Their selection process was unusually seamless and transparent. We didn’t have to know anybody here; it was purely based on what they had accessed. There was no interference at all,” Barnabas added.

Andy Jibunoh, the Managing Director, APD Project Management, who manages some projects for Palton Morgan cited some qualities that make working with Palton Morgan and contractors seamless.

“Palton Morgan is very particular about whom they work with, and their selection process is impressive and transparent, especially when you see the criteria they use. The standards are very high if you look at all their projects; from the soil test to the ploughing, they always go for the best. I love the teamwork here. What makes projects succeed is how the teams work together, and here we have a great working relationship,” he concluded.

Palton Morgan – a parent real estate brand of Grenadines Homes and Oceanna, is running at the forefront to build top-quality projects that will set a standard in the real estate sector in Africa. Palton Morgan commits itself to revolutionary ideas and strategies that will fuel great innovations within the Nigerian property market.

 


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General News

Nigeria Police suspends tinted glass permit enforcement over court injunction

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Nigeria Police Force has suspended nationwide enforcement of its tinted glass permit policy, hours before its scheduled rollout, in compliance with a Delta State High Court order.

Nigeria Police suspends tinted glass permit enforcement over court injunction

Tinted glass permit

The policy, set for January 2, 2026, aimed to curb vehicle-related crimes but faced legal challenge from a private citizen against the Inspector-General of Police, the force, and Delta Police Commissioner.

An ex parte injunction issued in December 2025 restrained enforcement pending suit determination, prompting the hold announced by spokesperson Benjamin Hundeyin on January 1.

Police entered appearance, filed preliminary objections, and sought injunction vacation; hearing adjourned to January 20, 2026.

The Nigerian Bar Association condemned initial police plans as “executive recklessness,” accusing disregard for rule of law, while police insisted no permanent bar existed on statutory duties.

IGP Kayode Egbetokun reiterated adherence to law while prioritising public safety via intelligence-led strategies during proceedings.


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NDIC Reinforces Full Oversight Compliance to Safeguard Depositors

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Mr. Thompson Sunday, the Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), has reaffirmed the Corporation’s strict compliance with fiscal and financial regulations, including the provisions of the Fiscal Responsibility Act (FRA) 2007, noting that the NDIC has consistently remitted the required percentage of its earnings to the Federal Government.

Mr. Sunday made this known during a courtesy visit to the Managing Director/Chief Executive of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, as part of NDIC’s ongoing engagement with key stakeholders following his formal assumption of office in July 2025.

According to him, NDIC takes financial accountability and transparency seriously, stressing that the Corporation complies fully with statutory remittance obligations, including the payment of 20 per cent of gross earnings or 80 per cent of net surplus to the Federal Government, as applicable. He added that NDIC also submits its financial statements ahead of statutory deadlines.

The NDIC MD/CE explained that this culture of compliance aligns with the Corporation’s role as a key institution within Nigeria’s financial safety-net, charged with protecting depositors and promoting confidence in the banking system. He emphasized that adherence to fiscal discipline remains central to NDIC’s credibility and effectiveness.

Mr. Sunday further disclosed that NDIC also complies with the Federal Government’s 50 per cent cost-to-income ratio policy, although he noted that the policy poses operational constraints. He explained that the deductions affect NDIC’s ability to build a strong Deposit Insurance Fund, which is needed to respond effectively to bank failures.

He stressed that international best practices under the Core Principles for Effective Deposit Insurance issued by the International Association of Deposit Insurers (IADI) require deposit insurers to maintain adequate funds to reimburse depositors when banks fail without recourse to government, adding that the NDIC is seeking an exemption to strengthen its capacity in this regard.

Mr. Sunday described MOFI as a critical stakeholder, noting that the Federal Government, through MOFI, holds a 40 per cent equity stake in NDIC. He said sustained collaboration with MOFI is essential to ensuring that NDIC continues to meet its obligations to government while effectively safeguarding depositors’ funds.

In his remarks, Dr. Takang commended the NDIC for its exemplary collaborative spirit and acknowledged the Corporation’s compliance with fiscal regulations. He assured that MOFI would continue to engage the Federal Ministry of Finance on NDIC’s behalf, noting that a strong NDIC is vital to sustaining confidence in Nigeria’s financial system.

Both institutions reaffirmed their commitment to continued cooperation, transparency and accountability, with Mr. Sunday reiterating that NDIC remains focused on balancing regulatory compliance with its overriding mandate of depositor protection and financial system stability.


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T2 Backs Youth Excellence as NCBC Wins Bosun Tijani Foundation Basketball Tournament

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T2 has reaffirmed its commitment to youth development and excellence through sport as the NCBC basketball team, adopted by the brand, emerged champions of the Bosun Tijani Foundation Youth Basketball Tournament held at the Alake Sports Complex, Ijeja, Abeokuta.

The tournament, organised by the Bosun Tijani Foundation in collaboration with the Ogun State Government and supported by several partners including T2, brought together 12 competitive teams from across Nigeria, positioning basketball as a powerful platform for youth engagement, discipline, and opportunity.

NCBC’s championship run reflected the values T2 seeks to champion, work ethic, intelligence, teamwork, and resilience. The team recorded commanding victories over Team Vision, Warlords, and Elevate before defeating the Ilupjeu Raiders 66–52 in a gripping final.

Commenting on the adoption of the team, Seni Ogunkola, Vice President, Brands and Communication, T2 stated “NCBC embodies the qualities we believe in, exceptional work rate, intelligence on the ball, discipline, and a hunger to excel. By supporting them, T2 is investing in potential, purpose, and the next generation of leaders on and off the court.”

The climax of the event saw His Royal Highness, Oba Adedotun Gbadebo, the Alake of Egbaland, alongside Nigeria’s Minister of Communications and Digital Economy, Bosun Tijani, present the trophy to the victorious team, drawing rapturous applause from spectators. The event was also attended by the Chief of Staff to Ogun State Governor Dapo Abiodun, Mr. Lere Olayinka, and the Ogun State Commissioner for Sports, Honourable Wasiu Isiaka, underscoring strong institutional support for youth-focused initiatives.

Through its participation in the tournament, T2 continues to position itself as a brand that goes beyond sponsorship, championing platforms that unlock talent, inspire ambition, and create lasting social impact for Nigerian youth.


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