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Business News

Landwey acquires stake in real estate tech firm Vistafront 

Real Estate firm, Landwey, has acquired a stake in tech platform for funding real estate projects online, Vistafront.

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Landwey

Real Estate firm, Landwey, has acquired a stake in tech platform for funding real estate projects online, VistafrontLandwey made the investment to cash-in on the role Vistafront is playing in the Real Estate industry in Nigeria. 

Landwey, which has projects in commercial, retail and residential property segments, acquired 25% stake in Vistafront to become one of its major investors. This move by Landwey is a means to be more deep-rooted in opportunities that are available in the Real Estate market. 

Why Vistafront is a big deal: Vistafront’s presence in the Real Estate market has made it easier for individuals interested in investing in Real Estate for short or long-term gain. With Vistafront, investors can make an investment in building projects at the comfort of their homes through a mobile phone. 

[READ ALSO: N500m invested by Ikeja Electric to boost power supply]

According to the Founder/Chief Executive Officer of Landwey, Olawale Ayilara, the company has always had eyes for opportunities to evolve in the market. 

“We are always proud when we spot opportunities for our clients and followers to be more involved in real estate projects that will give them the best returns for their money… We understand the need to continually evolve as we serve the industry. We are glad that with this partnership, we can fully support and encourage everyone to fund real estate projects. 

Hitting the ground running: Ayilara revealed that Vistafront had been incorporated for interested investors to make investment in the ongoing project of Landwey. 

“There is an ongoing project called Bloom 1. It is a bridge financing for land acquisition for 14,000 square meters nested in the heart of Lekki Epe Expressway, Lagos. With as low as N25, 000 per unit, you can fund as many units as you like and make 12% return in six months. 

Vistafront’s mission on the partnership is to provide quality infrastructure for all, so 1% of every unit you fund goes toward Social Infrastructure Impact Project (SIIP) like schools, community homes, hospitals and other social amenities accessible to the lessprivileged. 

[READ MORE: Key things to consider when investing in real estate investment trusts]

“However, once 1% of your total funding reaches N10,000 for any project, Vistafront will automatically place a cap so that the total amount you pay for SIIP does not exceed N10,000 irrespective of the number of units funded.” 

Speaking on the acquisition, the Managing Director of Vistafront, Segun Ajuwon, said, “We have gotten a lot of positive feedback since we launched, and we have plans to continue to launch new projects. 

“For every project we feature on the site, we also have in place a strict vetting process carried out by our in-house team and our other partners like Nachtwey Advisory Services Limited, a SEC- registered Asset Management company; Emerging Africa Capital Group, a licensed Trustee firm; and AXA Mansard, a trusted insurance company.” 

Olalekan is a certified media practitioner from the Nigerian Institute of Journalism (NIJ). In the era of media convergence, Olalekan is a valuable asset, with ability to curate and broadcast news. His zeal to write was developed out of passion to shape people’s thought and opinion; serving as a guideline for their daily lives. Contact for tips: [email protected]

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Spotlight Stories

Tip Jar, Twitter’s new giveaway feature that lets users send money to you

Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.

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US Elections: Twitter, Facebook suspend several news accounts

Twitter has introduced a new feature called Tip Jar that allows you send money to your favourite tweeters.

According to the blog post, “Tip Jar is an easy way to support the incredible voices that make up the conversation on Twitter. This is a first step in our work to create new ways for people to receive and show support on Twitter – with money.”

The new feature utilizes different payment platforms like PayPal, Venmo, Patreon, CashApp, and others.

Users can link their Twitter accounts with Tip Jar to any of these payment providers. Twitter takes no cut.

READ: Facebook is creating an audio chat product similar to Clubhouse

You’ll know an account’s Tip Jar is enabled if you see a Tip Jar icon next to the Follow button on their profile page. Tap the icon, and you’ll see a list of payment services or platforms that the account has enabled. Select whichever payment service or platform you prefer and you’ll be taken off Twitter to the selected app where you can show your support in the amount you choose.

Twitter has released series of features this year as part of its efforts to grow Twitter’s user base to 315 million daily active users by the end of 2023.

The company also launched Twitter crop where images don’t get crop again on Twitter for Android or iOS. Standard aspect ratio images (16:9 and 4:3) will now display in full without any cropping and images will look just like they did when you shot them.

Hotflex

READ: Does YouTube stand a chance against TikTok?

Lauren Alexander, a Twitter spokesperson said, “Today’s launch is a direct result of the feedback people shared with us last year that the way our algorithm cropped images wasn’t equitable, The new way of presenting images decreases the platform’s reliance on automatic, machine learning-based image cropping.”

Twitter has tested several features and more will be rolled out soon.

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Business

Customs Apapa Command generates revenue of N65.4 billion in April

This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.

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Border closure: Amid N5bn daily revenue, Customs officials lament allowance slash  

The Nigerian Customs Service (NCS) Apapa Area Command has announced a revenue of N65,463,398,355.85 for the month of April—an increase of N25,585,561,139.92 compared to the same period last year.

This was disclosed by Comptroller Ibrahim Yusuf, Area Controller of Apapa command, in a press briefing on Thursday.

What Ibrahim Yusuf is saying

“This indicates a 64% increase in collection and an unprecedented record that has never been achieved in the history of Apapa Area Command.

In line with the provision of extant laws, trade guidelines, and enforcement of government fiscal policy measures, the command was able to further strengthen its anti-smuggling operations against economic saboteurs through credible intelligence-driven operations.

READ: Customs revenue rises by N200 billion to hit N1.5 trillion in 2020

This led to the seizure of 4×40 feet containers laden with unregistered pharmaceuticals (674 cartons of tramadol tablets in 225mg and 120mg, and 805 cartons of codeine syrup in 100ml) at APMT and SIFAX 3 bonded terminal respectively.

Other items seized in the period under review include: two containers of unprocessed wood and one container of scrap copper wire,” he said.

He added that the progress the Apapa Command made in the month of April was possible due to the resilience of the officers, citing that the Command had taken steps to ensure efficient revenue collection by creating an enabling environment for legitimate businesses to thrive.

What you should know

Recall Nairametrics reported that the Nigeria Customs Service (NCS) Apapa Command stated earlier that it generated a revenue of N159.58 billion in the first quarter of 2021.

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