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Court Rejects Lafarge’s Bid to Stop Suit Over Planned Sale to Chinese Firm

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Court Rejects Lafarge’s Bid to Stop Suit Over Planned Sale to Chinese Firm

A Federal High Court in Ikoyi, Lagos, has dismissed an application by Lafarge Africa Plc challenging its jurisdiction to hear a suit over the company’s proposed sale of majority shares to a Chinese firm.
Justice Lewis Allagoa, delivering a ruling on Thursday, May 15, 2025, upheld the court’s authority to proceed with the matter filed by Strategic Consultancy Limited, a Nigerian firm and minority shareholder in Lafarge Africa.

Strategic Consultancy is seeking to stop Lafarge’s planned sale of 83 percent of its shares to Huaxin Cement Limited, a Chinese-based company. The plaintiff contends that the transaction was carried out secretly, excluding minority shareholders from the opportunity to purchase the shares. The suit also argues that the sale contravenes key Nigerian laws, including the Companies and Allied Matters Act (CAMA) 2020, the Securities and Exchange Act, and the Nigerian Investment Promotion Act, which prohibit certain transactions involving unregistered foreign entities and protect minority shareholder rights.

Lafarge, which is listed on the Nigerian Exchange, had earlier disclosed that the deal was part of an internal restructuring within the Holcim Group, a Swiss conglomerate that owns over 83 percent of Lafarge Africa’s issued share capital. The planned sale has drawn attention due to Lafarge’s historic acquisition of shares from three government-owned cement firms during the privatisation rounds of 2001 and 2002.

Justice Allagoa also ruled in favor of the plaintiff’s request to join two foreign entities—Caricement BV (Netherlands) and Associated International Cements Ltd (England)—which Lafarge identified as shareholders. The judge granted leave for the two new defendants to be served court processes outside Nigeria.

“The 1st and 2nd defendants’ motion objecting to the court’s jurisdiction is hereby dismissed,” Justice Allagoa ruled. “The persons sought to be joined herein are hereby joined as prayed, and leave to issue and serve the Originating Summons out of jurisdiction is hereby granted.”

The matter has been adjourned to June 11, 2025, for further proceedings

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Adron Homes Chairman Commends Oyo State’s Real Estate Reforms, Urges Policy Continuity

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Adron Homes Chairman Commends Oyo State’s Real Estate Reforms, Urges Policy Continuity

The Chairman and Chief Executive Officer of Adron Group, Aare Adetola Emmanuelking, KOF, has commended the Oyo State Government for its bold reforms in the real estate sector, describing the state as a land of “history, enterprise, and endless possibilities.”

Aare Adetola remarked while delivering a goodwill message titled “The Real Estate Called Oyo State” at the 2025 Oyo State Real Estate Conference, held in Ibadan.

The event, themed “Real Estate and Economic Development in Oyo State: Strategies for Success,” brought together top real estate developers, government officials, and investors to discuss strategies for improving housing delivery and driving economic growth in the state.

Organised by the Office of the Special Adviser to the Governor on Housing and Urban Development in collaboration with the Real Estate Developers Association of Nigeria (REDAN), the conference highlighted the need for policy stability, public-private partnerships, and innovation in real estate development.

In his address, the Speaker of the Oyo State House of Assembly, Rt. Hon. Adebo Ogundoyin, reaffirmed the government’s commitment to transparency and investor confidence through the digitalisation of land records (OYOGIS), improved urban planning, and major infrastructure upgrades across the state.

He also cited the passage of the Oyo State Land Control and Administration Bill, 2023, and the establishment of the Anti-Land Grabbing Task Force as key reforms curbing land disputes and promoting sustainable property ownership. Ogundoyin praised major developers such as Adron Homes and MKH Properties for their role in boosting investor trust in the Oyo property market.

In his goodwill message, Aare Adetola Emmanuelking applauded the administration of Governor Seyi Makinde, FNSE, for maintaining consistency in land policies and governance structures, which he said had continued to attract serious investors to Oyo State.

He recalled that Adron Homes made its foray into Ibadan nearly a decade ago based on the state’s stable policy environment, a decision that has since yielded impressive results. He, however, urged the state government and future administrations to ensure policy continuity, warning that inconsistency could derail the progress already achieved.

The conference ended with a collective resolve by stakeholders to deepen collaboration between the public and private sectors, strengthen regulatory transparency, and create a business environment that will make Oyo State a model for real estate investment in Nigeria.

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Adron Homes Launches Lemon Friday Plus Promo with 50% Discount, Rewards, and Flexible Payment Plans

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Adron Homes Launches Lemon Friday Plus Promo with 50% Discount, Rewards, and Flexible Payment Plans

Adron Homes and Properties, Nigeria’s leading real estate company renowned for making homeownership affordable for all, has unveiled its much-anticipated Lemon Friday Plus Promo an upgraded version of its annual Lemon Friday campaign.

The Lemon Friday Plus Promo is designed to make property ownership easier, more flexible, and more rewarding for Nigerians both at home and in the diaspora. With discounts of up to 50% on all landed properties, flexible payment structures, and exciting gift packages, Adron Homes continues to fulfill its mission of providing affordable housing solutions nationwide.

According to the company’s Group Managing Director, Mrs Adenike Ajobo, the Lemon Friday Plus Promo was introduced as part of Adron Homes’ commitment to empower more Nigerians to become landowners despite the current economic challenges.

“For over a decade, we have continued to make property ownership possible for everyday Nigerians. Lemon Friday Plus takes that vision even further by making payments more flexible and the process of owning land more convenient and rewarding,” he said.

For the first time, subscribers can spread their initial deposits into five convenient installments, from July to November 30, 2025. This unique feature allows individuals and families to plan their finances while securing a plot in any Adron Homes estate of their choice.

The promo offers affordable entry options with tiered deposit packages:

* ₦300,000 (Bronze)
* ₦500,000 (Silver) – includes a cockerel & rice
* ₦1,000,000 (Gold)
* ₦3,500,000 (Diamond)

Each deposit category comes with exciting gift rewards, ranging from home appliances such as refrigerators, washing machines, and home theatres, to even cows for festive celebrations.

During the promo period, customers can enjoy a massive 50% discount on all Adron Homes estates nationwide and spread their remaining balance conveniently over 12 months.

This offer applies to all Adron Homes estates, including popular developments such as Treasure Park and Gardens (Shimawa), City of David Estate (Abeokuta), Grandview Park and Gardens (Atan-Ota), Manhattan Park and Gardens (Karshi, Abuja), among others.

With over 60 estates across Nigeria, Adron Homes provides customers the opportunity to own land in Lagos, Ogun, Abuja, Oyo, Osun, Niger, Nasarawa, Ekiti, and Plateau States.

Speaking further, the Managing Director, Mrs. Adenike Ajobo, who officially declared the Lemon Friday Plus sales open at the company’s Ibadan regional office, emphasized that the campaign underscores Adron Homes’ goal of building cities and creating affordable housing opportunities.

“This promo is not just about discounts; it’s about making real estate accessible to everyone; traders, salary earners, entrepreneurs, and even students. At Adron Homes, we believe everyone deserves a place to call home,” she noted.

The Lemon Friday Plus Promo is currently open to new and existing customers nationwide. Interested buyers can visit any Adron Homes regional office, call the company’s hotlines, or connect via its official website and social media handles to take advantage of this limited-time offer.

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Aare Adetola EmmanuelKing, Honoured with TMnews Leadership Award

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Aare Adetola EmmanuelKing, Honoured with TMnews Leadership Award

It was a night of honour and gratitude at the 12th Annual TMnews Summit and Awards 2025, where Aare Adetola EmmanuelKing, Chairman and Group Managing Director of Adron Group, received a prestigious Award of Recognition for his exceptional leadership and unwavering commitment to empowering Nigerians through affordable housing and community development.

The event, themed “Securing the Future: A Collaborative Approach to Community Safety,” brought together top government officials, security chiefs, corporate leaders, and humanitarian advocates to engage in constructive dialogue on national security, community partnership, and sustainable development.

In his message of appreciation, Aare EmmanuelKing expressed heartfelt gratitude to TMnews Magazine for the recognition, describing it as a humbling honour that reinforces his commitment to nation-building through affordable housing, community empowerment, and corporate social responsibility.

“I am deeply honoured by this recognition from TMnews. It is a testament to the collective effort of the Adron Group family, whose passion and dedication continue to drive our mission of making quality housing accessible to all Nigerians. This award is not just for me, it is for every hardworking Nigerian who believes in the dream of a better, safer, and more prosperous nation,” Aare EmmanuelKing stated.

He further commended the organisers of the summit for their consistency in promoting dialogue and collaboration among key stakeholders in governance, business, and community development, adding that such platforms are essential to building a secure and progressive society.

The Publisher and CEO of TMnews Magazine, Temidayo Babalola, lauded Aare EmmanuelKing for his visionary leadership and transformative role in Nigeria’s real estate sector, describing him as a beacon of innovation and a passionate advocate for sustainable community growth.

The summit also featured the TMnews Humanitarian Awards, where 24 distinguished individuals and organisations were celebrated for their exceptional service to humanity, corporate responsibility, and community impact.

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