Broadcasting

Shoprite Sets to Reopen Circle Mall Store, After 2020 Looting Incident

Published

4 years ago

January 31, 2022

Kindly share this post

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

The store which is located in Jakande, Lagos was closed down following the vandalisation that erupted after the EndSARS protests late 2020.

Tayo Amusan, Chairman of RSNL, said the reopening serves as an opportunity to show customers that the dogged Nigerian spirit runs deep, even as the team works to optimize its operations for continued productivity.

“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”, Amusan said.

“We remain steadfast in our commitment to support the growth of the Nigerian economy even as we explore opportunities to expand our network of outlets thereby providing employment opportunities for Nigerians.

“We are also exploring opportunities to partner with more local farmers and small business owners to optimise agribusiness across Nigeria to considerably increase agricultural yield in the country”, Amusan added.

At the moment, Shoprite Nigeria’s supply chain includes more than 300 leading Nigerian suppliers, and boasts small businesses and farmers among its partners and suppliers.

The retail giant has also announced plans to open new stores in Kaduna, Port Harcourt, Benin and Jos as part of its expansion plans, increasing the company’s presence to almost 30 stores in the country.

Meanwhile, Shoprite Maryland, in Lagos, will cease operations.

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

“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,” Amusan said in a statement.

With the new store openings, Shoprite will be building on its existing store locations across 11 states and the Federal Capital Territory. The management plans on expanding to other states, creating employment opportunities, partnering with more local businesses and playing a major role in growing the Nigerian economy.

Kindly share this post

Up Next

2023 Presidential Elections; Ositelu Unveils Recipe for Good Governance, Democratic Dividends

Don't Miss

Is Your Work From Home Office Harming Your Health?

Ugo Onwuaso

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Comments

Broadcasting

EFCC Arik Case: Witness Testifies on Receiver Manager Nominee’s Role in NG Eagle Shareholding

Published

18 hours ago

December 9, 2025

Ugo Onwuaso

Kindly share this post

The 4th prosecution witness in the ongoing trial of former AMCON Managing Director, Ahmed Kuru, on Monday continued to give the Special Offences Court in Ikeja, Lagos, ‘fresh insight’ into how the structure and equity of NG Eagle Airlines was set up.

EFCC Arik

In his testimony, Kaltungo testified that this arrangement entails the Receiver Manager’s nominee having a shareholding arrangement of NG Eagle of “one unit within a billion-share structure,” as part of the findings that emerged during the Economic and Financial Crimes Commission’s investigation.

The development surfaced as EFCC Investigative Officer, Bawa Usman Kaltungo, continued his examination-in-chief led by prosecution counsel, Dr. Wahab Shittu, SAN. Kaltungo told the court that the financial trail uncovered by investigators showed how funds allegedly belonging to Arik Air Limited were unaccounted for while NG Eagle was being established.

Kaltungo also, in the course of his testimony, sought to mislead the Court to believe that the 1st Defendant sold NG Eagle shares solely and unilaterally as a Receiver holding majority shares in NG Eagle, when in fact he is just a nominee with a single unit of share, as AMCON, the corporation that appointed him, holds majority shares in NG Eagle.

Even though his testimonies were made with the support of a few documents admitted in evidence, Kaltungo still was not able to establish a nexus of any act of omission on the part of the accused persons to establish fraud or crime in the management of Arik’s loan.

Kuru is standing trial alongside Kamilu Alaba Omokide, Captain Roy Ilegbodu, Union Bank Plc, and Super Bravo Limited before Justice Mojisola Dada. According to the witness, the statement of Arik’s former Chief Financial Officer, Mr. Jonathan Sani, detailed how the defendants allegedly moved N4.5 billion from Arik to fund NG Eagle, an airline he said was controlled by the defendants. He further testified that Omokide and Ilegbodu allegedly worked with Kuru to funnel a total of N4.9 billion from Arik’s coffers to manage and fund operations of the new airline.

Kaltungo added that beyond the cash transfers, Arik staff were also moved to NG Eagle even though the new airline was set up while Kuru was still AMCON MD, and Omokide served as AMCON’s Receiver Manager. He said salary payments and operational expenses for the newly formed NG Eagle were borne by Arik Air Limited.

During proceedings, the court admitted a CTC of an ex parte order, which the prosecution termed as the only document authorizing the appointment of the RM over Arik and marked the same as P17, along with other exhibits—P18, P25, P26, P44, and P45—including. photographs and videos in a flash drive containing footage of alleged vandalised aircraft were played in court, but the Prosecution again failed to establish a nexus as to whether those aircraft indeed belonged to Arik.

Meanwhile, counsel for the second and third defendants applied for the release of their clients’ passports for renewal and medical purposes. Justice Dada granted the requests on the condition that the documents be returned to the court registry no later than January 2, 2026.

The matter was thereafter adjourned to February 25 and 26, 2026, for continuation of the trial and Examination-in-Chief of PW4

Kindly share this post

Broadcasting

NIPR Postpones Maiden PRICE Awards to January 25, 2026

Published

4 days ago

December 6, 2025

Ugo Onwuaso

Kindly share this post

Nigerian Institute of Public Relations (NIPR) has announced the postponement of its maiden annual Public Relations, Reputation, Ideas, Concepts and Excellence (PRICE) Awards and Prizes to January 25, 2026.

NIPR

The event, earlier scheduled for December 7, 2025, was deferred to accommodate stakeholders whose observance of Christmas festivities had commenced earlier than expected.

Chairman of the Organising Committee, Mr. Israel Opayemi, urged stakeholders to note the new date and prepare to participate in the ceremony.

He said the awards would motivate professionals, practitioners and scholars, while enhancing Nigeria’s global competitiveness in the public relations ecosystem and strengthening brand equity for all stakeholders.

Opayemi reaffirmed the Committee’s commitment to delivering a best-in-class award administration and ceremony, describing the PRICE Awards as a credible and enduring platform to identify, celebrate and elevate outstanding individuals, campaigns and organisations shaping the public relations landscape across sectors.

The development of the PRICE Awards peaked in September 2025 when the NIPR President and Chairman, Council, Dr. Ike Neliaku, inaugurated a 12-man committee to organise the maiden edition. The inauguration followed the Council’s adoption of the report of a technical team tasked with establishing the awards.

Kindly share this post

Broadcasting

Netflix Seals $82.7bn Deal to Acquire Warner Bros., HBO Max

Published

4 days ago

December 6, 2025

Ugo Onwuaso

Kindly share this post

Netflix has announced a landmark agreement to acquire Warner Bros. and HBO Max in a transaction valued at $82.7 billion, a move analysts say will reshape the global entertainment industry.

Netflix

The deal, which includes Warner Bros.’ film and television studios, HBO, HBO Max, and Warner Bros. Games, was unanimously approved by the boards of both companies. Under the terms, Warner Bros. Discovery (WBD) shareholders will receive $23.25 in cash and $4.50 in Netflix shares for each WBD share.

Netflix co-CEO Ted Sarandos described the acquisition as “a defining moment” for the streaming giant, noting that the company intends to maintain Warner Bros.’ current operations while expanding its production capacity.

“By combining Warner Bros.’ incredible library of shows and movies with Netflix’s culture-defining titles, we can give audiences more of what they love and help define the next century of storytelling,” Sarandos said.

The transaction is expected to close within 12 to 18 months, following the planned spin-off of WBD’s TV networks division, Discovery Global, in 2026. Netflix projects annual cost savings of $2–3 billion by the third year after completion and expects the deal to be accretive to earnings per share by year two.

Industry groups, including the Directors Guild of America and Cinema United, have raised concerns about the impact on movie theaters, while regulators are expected to scrutinize the deal over antitrust issues. Netflix has pledged to continue supporting theatrical releases, with Warner Bros.’ cinema commitments running through 2029.

Warner Bros. Discovery CEO David Zaslav hailed the agreement, saying it “combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love.”

Observers note that the acquisition comes 15 years after former Time Warner chief Jeff Bewkes dismissed Netflix as “the Albanian army,” underscoring the dramatic shift in the entertainment landscape.

Kindly share this post