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PWAN DENOUNCES FALSE CLAIMS OVER MR. SCOTT IGUMA’S ARREST

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In response to a series of misleading and widely circulated social media posts, PWAN has  distanced itself from the recent arrest and detention of Mr. Scott Iguma.
According to the statement issued by PWAN, it  stated that the company has nothing to do with Mr. Iguma’s arrest and detention.
”We wish to state unequivocally that PWAN, as a private corporate entity, neither has the authority nor has ever exercised any power to arrest or detain any individual. The suggestion that we are responsible for Mr. IGUMA’s current legal challenges is entirely false, malicious, and deeply misleading.

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While it is true that Mr. Iguma has, in recent months, waged a sustained smear campaign against PWAN, we have consistently responded with professionalism, restraint, and full adherence to legal channels. Despite persistent provocations and the dissemination of falsehoods, we extended multiple invitations to Mr. IGUMA for peaceful dialogue—offers he publicly declined, as evident in his social media posts.

We must emphasize that social media is not an appropriate venue for resolving legal disputes or grievances. There are recognized legal and institutional channels for such matters, which PWAN has always respected.

According to information reliably available to us, Mr. Iguma is currently being held for allegedly evading lawful police invitations and for a reported altercation with law enforcement officials at Panti. These events are unrelated to PWAN and occurred independently of any involvement or directive from our organization. We understand that these issues were brought before Justice Oghazi of the Federal High Court, Lagos Division, during Mr. IGUMA’s recent arraignment.

We urge the public, media outlets, and social commentators to refrain from amplifying unfounded allegations. Let the judicial process unfold transparently and without interference.

PWAN remains firmly committed to integrity, the rule of law, and the continued advancement of Nigeria’s real estate sector through ethical, transparent business practices.

We thank our partners, clients, and stakeholders for their continued trust and support. Truth does not scream—it endures”

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Tinubu to Open Niger Delta Economic Summit in Port Harcourt

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Tinubu

Tinubu Niger Delta summit opens in Port Harcourt as investors and policymakers gather to drive investment, innovation and industrial growth

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Dangote Refinery Sets ₦525 Share Price for Landmark IPO

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Dangote Petroleum Refinery has set its initial public offering price at ₦525 per share, with the company seeking to raise about ₦2.15 trillion as it prepares to enter Nigeria’s public equities market.

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The Securities and Exchange Commission has approved the offer for 4.1 billion ordinary shares at ₦525 each. If fully subscribed, the offer would generate approximately ₦2.15 trillion, equivalent to about $1.6 billion at current exchange rates.

The offering is expected to open on 14 September 2026, according to Aliko Dangote, the president of Dangote Industries. The planned sale is positioned to become one of the largest equity offerings in Africa.

The IPO marks a significant step in Dangote Group’s plans to broaden ownership of the refinery and raise additional capital for expansion.

The refinery currently has a stated processing capacity of 650,000 barrels of crude oil per day. Dangote has said the company plans to increase that capacity to 1.4 million barrels per day as part of its longer-term expansion strategy.

The planned share sale follows a $1 billion underwriting programme completed in August, providing additional financial backing ahead of the public offering.

The refinery, located in the Lekki area of Lagos State, is one of Africa’s largest industrial projects and has become an increasingly important player in Nigeria’s fuel supply market since beginning operations.

The public offering will give Nigerian investors an opportunity to acquire shares in the refinery directly, while providing Dangote Petroleum Refinery with fresh capital to support its next phase of growth.

The company has also indicated ambitions to expand beyond its current Nigerian operations, with Dangote recently announcing plans for another refinery project in Kenya.

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Glo @23: Staff Unite for a Memorable Sports Celebration

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Glo

Glo marks its 23rd anniversary with a lively staff sports fiesta in Lagos, featuring football, games, prizes and celebrations centred on teamwork (more…)

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