Abuja Le Meridien Acquired
 10th NOV 2006

Flamboyant  businessman Jimoh Ibrahim who acquired federal government owned NICON Insurance has paid N6.5 billion ($50 million) for Abuja Le Meridien, another federal government business. Ibrahim, whose source of wealth has been linked to some top federal government officials, said his group would make further investments on the hotel including the completion of the remaining 337 rooms of the 577-room hotel and beautification of the facility to compete with other five-star hotels in the world. "We will nurse the nearly moribund hotel back to life. We will revitalise and make it the pride of the industry''.

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