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Captain of Industry: Why I Sited Ilaji Hotels & Resort In Akanran – Sanusi explains

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As hotel guests, travelers, wellness seekers, tourists and fun seekers, among others continue to express divergent views following the location of Ilaji Hotels & Resort – one of the world class hotels and resorts housed by Akanran in Ona-Ara Local Government Area of Oyo state, its Chief Executive Officer, Chief.  Dotun Sanusi has given reasons as to why he settled for his hometown.

Sanusi, a business magnate and philanthropist revealed that his decision to build the ‘tourist court’ in Akanran was borne out of his burning passion for humanity, adding that he wanted to give back to the society where he was born and raised.

According to the billionaire mogul, “the Church contributed to raise me. I have moved around and lived in many places, sweat it out and  I decided that after moving around, I want to give back to the society.

“I needed a place that has history of backwardness. You give back to where you don’t expect anything in return.

“Ona Ara Local Goverment Area has a deep history of depravity and socio-economic backwardness. Among the 33 local government areas in the state, it has the poorest infrastructural development and the lowest Internally Generated Revenue (IGR).

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“We all know the history of the Agbekoya. They were domiciled here. The local government area has a history of neglect. It is fighting  against injustice which arose from unlawful taxation suffered by Cocoa farmers and which was accountable for the sufferings of the people. So, on that basis, the Agbekoya history and everything comes to play.

“I find out that here have history I was looking for .This drew me to the conclusion that I have to be here, that is the reason why Ilaji Hotels and Resort is here”, the Chief Executive Officer explained.

He continued, “Although , I am a Christian with Muslim background, I am a realist. I know that God will judge us by our passion for humanity. I want to ensure that the people around me are happy and that is what gives me joy”

Chief Sanusi, who featured on a Media Breakfast Chat organized by the Southwest Group of Online Publishers (SWEGOP) at the end of its two-day capacity-building workshop, held at the expansive Ilaji Hotels and Resort last Saturday; also made it clear that he has no intention of joining politics.

“I am not interested in politics. Rather, my legacy will speak for me. It is not about the huge money you accumulated and put somewhere. The essence of living is about the joy and smile you put on people’s face,” he stressed.

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(C) Idowu Ayodele

Mega Icon Magazine

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Bitcoin Hits $50,000 For First Time Since 2021

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A picture taken on February 6, 2018 shows a visual representation of the digital crypto-currency Bitcoin, at the “Bitcoin Change” shop in the Israeli city of Tel Aviv. (Photo by JACK GUEZ / AFP)

Bitcoin surpassed the $50,000 mark on Tuesday, marking its highest value in over two years.

Investor optimism surged as anticipation grew regarding broader trading approval in the US, with hopes riding high on potential green lights for cryptocurrency exchange-traded funds (ETFs).

Despite an initial dip following Washington’s approval signal last month, Bitcoin has rebounded impressively, boasting a 25 percent rally since January 22.

As of the latest data from Bloomberg, the cryptocurrency peaked at $50,328, underscoring the resilience and upward momentum in the crypto market, leaving observers optimistic about its future trajectory.

“Enthusiast buyers bring in more enthusiast buyers pushing prices further up,” Fadi Aboualfa, of Copper Technologies, said.

“The cryptocurrency has momentum on the back of several green weeks and has a large chance of going up further when markets see weekly movements upwards of 10 percent (as we saw last week).”

By 0330 GMT Tuesday, bitcoin had dropped slightly, to $49,950.

While Bitcoin has made an impressive recovery, currently standing above $50,000, it still lags significantly behind its peak value of nearly $69,000 in 2020. This rally signals a bounce-back for the cryptocurrency, which faced turbulent times marked by high-profile scandals and collapses within the crypto industry.

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Last year, FTX, the world’s second-largest crypto exchange, suffered a dramatic downfall, with its CEO, Sam Bankman-Fried, now confronting potential consequences. Prosecutors have characterised the situation as “one of the biggest financial frauds in American history,” and Bankman-Fried faces the looming threat of up to 110 years in prison.

In November, Changpeng “CZ” Zhao resigned as CEO of Binance, the world’s largest crypto exchange, following both his and the company’s admission of guilt in extensive money laundering violations.

Bitcoin’s upward trajectory is further fueled by optimism surrounding potential interest rate cuts by the US Federal Reserve this year, as inflation appears to be easing. The cryptocurrency’s value is also influenced by an anticipated supply crunch next year, attributed to the recurring event known as “halving.”

Bitcoin, earned through intricate problem-solving by powerful computers in a process called “mining,” experiences a reduction in reward every four years. With the next “halving” scheduled for April, the limited supply dynamic continues to be a driving force behind Bitcoin’s value surge.

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Microsoft Joins Apple In $3 Trillion Club

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Microsoft joined Apple on Wednesday as a three trillion dollar company, as its big bet on artificial intelligence continued to impress Wall Street.

Now second to Apple as the world’s biggest company by market capitalization, Microsoft’s shares were up 1.31 percent at $404.

 

Apple remains narrowly in first place at $3.02 trillion after reaching the $3 trillion market capitalization mark for the first time in January 2022.

 

But it has fallen below the milestone, even briefly losing the pole position as biggest company on the markets when Microsoft briefly overtook the iPhone maker earlier this month.

 

Microsoft more than any other tech giant is riding the wave of excitement over AI.

The Redmond, Washington-based group has a major partnership with OpenAI, creator of ChatGPT, that is reportedly worth $13 billion.

Since the arrival of ChatGPT, Microsoft has launched several products enabling companies and individuals to use the capabilities of generative AI, notably via its Bing search engine and Copilot virtual assistant.

Since the launch of ChatGPT in early November 2022, Microsoft shares have gained some 67 percent, with Apple’s up by about 40 percent.

Microsoft publishes its results on January 30.

 

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Nigeria: Shell Announces Sale of Onshore Oil Assets

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In an aerial view, gas prices nearing $6.00 a gallon are displayed at a Shell gas station on February 23, 2022 in San Francisco, California. Justin Sullivan/Getty Images/AFP

Shell has announced a deal to offload its Nigerian onshore subsidiary, the Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance.

The acquiring entity, Renaissance, stands as a consortium comprising four local exploration and production companies in Nigeria, alongside an international energy group.

Shell,  in a Tuesday statement on its website, said, “Completion of the transaction is subject to approvals by the Federal Government of Nigeria and other conditions.

“Transaction will preserve SPDC’s operating capabilities for the benefit of a joint venture. The transaction has been designed to preserve the full range of SPDC’s operating capabilities following the change of ownership. This includes the technical expertise, management systems, and processes that SPDC implements on behalf of all the companies in the SPDC Joint Venture (SPDC JV)”.

But, it said, “SPDC’s staff will continue to be employed by the company as it transitions to new ownership”.

Shell emphasised  that amidst the competitive landscape, the company remains committed to supporting the management of SPDC JV facilities. These facilities play a crucial role in supplying a significant portion of feed gas to Nigeria LNG (NLNG), highlighting Shell’s dedication to assisting the nation in maximizing value from its NLNG endeavors.

“This agreement marks an important milestone for Shell in Nigeria, aligning with our previously announced intent to exit onshore oil production in the Niger Delta, simplifying our portfolio and focusing future disciplined investment in Nigeria on our Deepwater and Integrated Gas positions,” Shell’s Integrated Gas and Upstream Director Zoë Yujnovich said.

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“It is a significant moment for SPDC, whose people have built it into a high-quality business over many years. Now, after decades as a pioneer in Nigeria’s energy sector, SPDC will move to its next chapter under the ownership of an experienced, ambitious Nigerian-led consortium.

“Shell sees a bright future in Nigeria with a positive investment outlook for its energy sector. We will continue to support the country’s growing energy needs and export ambitions in areas aligned with our strategy.”

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