GOVERNMENT ACQUISITION

On September 1, 1975, the Federal Government of Nigeria through the National Insurance Corporation of Nigeria (NICON) acquired sixty percent (60%) equity holding of DTN.

By the 70s, DTN had become household name and a toast of the Nigerian public. It dominated the Nigerian Publishing industry with its newspapers and publications circulating in all major cities and towns in the country including neighbouring West African countries of Ghana and Cameroon. It also had offices in London, New York and East Africa.

At peak performance, the newspapers and publications titles produced by the company included "Daily Times", "Sunday Times", "Lagos Weekend", "Sporting Times", "Business Times", "Times Homes Studies", "Times Review", "Times Digest" and "Headlines". It is on record that DTN is the only Nigerian newspaper to attain a 500,000 copy circulation with one title. The Daily Times had emerged a colossus.

It was at the peak of its success and magnificence that the Federal Government in 1977, took over total ownership and control of the company. Though the company prospered, posting high and superior returns, it would soon go the way of government enterprises with overbearing political pressures, financial impropriety and recklessness characterising its operations.  Public perception began to shift towards the negative, resulting in declining business and fortunes. The company was loosing grip of the market, its glory was fast fading and Government would have no option but to sell.