Nigerian investment platform XM Future Music Group collapses amid concerns leaves users unable to withdraw funds amid concerns over suspected Ponzi scheme promising high returns

(more…)

Kola Karim’s Shoreline Group has signed a letter of intent with Accor, a world leading hospitality group to establish Nigeria’s first national hotel platform.

The signing took place during the Africa Forward Summit 2026 hosted jointly by Kenya and France in Nairobi.

This ambitious partnership is set to make a significant contribution to the evolving Nigerian hospitality landscape with a substantial investment from Shoreline of $300 million, leveraging Accor’s renowned brand portfolio and expertise.

As gathered the strategic collaboration aims to develop a hotel network across Nigeria, encompassing 10 hotels across eight cities and over 1,200 rooms by 2030.

These properties will span various segments, from midscale to luxury, catering to diverse travelers and contributing significantly to the nation’s tourism growth. The project also includes the establishment of a dedicated hospitality training Academy to nurture local talent and create approximately 1,000 direct jobs.

Mr. Sébastien Bazin, Chairman and CEO of Accor, stated: “We are thrilled to partner with Shoreline Group to unlock the immense potential of Nigeria’s hospitality sector. This partnership is a testament to our belief in Nigeria’s dynamic future.

“By combining Shoreline’s deep understanding of the local market with Accor’s global expertise and diverse brand portfolio, we are poised to create an unparalleled hospitality offering that will set new benchmarks for quality and service.

“Crucially, the establishment of the Accor Academy is integral to this vision, enabling us to deliver immediate talent development for the Shoreline hotel portfolio, demonstrate our long-term commitment to Nigeria through dedicated training facilities, and solidify Accor’s position as the employer and educator of choice in West Africa.”

The Agbaoye of Ibadanland and  Chairman of Shoreline Group, Karim,  commenting on the development said: “This partnership is central to Shoreline’s strategy of building institutional-quality infrastructure platforms across Africa.

“We anticipate hospitality infrastructure becoming increasingly vital for capital movement and development, particularly in Nigeria where high-quality room supply is underserved. Our choice to partner with Accor highlights our focus on operational excellence and long-term value.

“The hospitality academy is crucial, alongside physical hotels, for developing local talent to sustain international standards. It will support our portfolio and enhance Nigeria’s hospitality workforce.

“This investment aligns with Shoreline’s broader focus on strategic assets in energy, infrastructure, and industrial development. We view hospitality as a natural extension: real infrastructure supporting economic activity, local capability, and national growth.”

FLYGABON Lagos flight operations launch as Gabon’s airline expands to Nigeria, boosting African connectivity with faster routes and new travel options

(more…)