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Company Background
The Daily
Times of Nigeria Plc was incorporated in Nigeria on 6th June
1925 as the Nigerian Printing & Publishing Company Limited by
the quartet of Messrs. V. R. Osborne, L. A. Archer, R. Burrow
and Adeyemo Alakija. The company started printing on June 1,
1926 with the publication title, ‘The Nigerian Daily Times’. The
principal business for which the company was established -
‘to carry on business as printers and publishers, advertising
agents and newsvendors of a Newspaper to be called The Nigerian
Daily Times, and any other newspapers, periodicals and
journals’.
By a
special resolution of the shareholders dated May 30, 1963, the
name of the company was changed to The Daily Times of Nigeria
Limited (“DTN”). The organisation is Nigeria’s premier
newspaper company and one of the earliest to be established in
the African continent. In June 1963, DTN
became a public company with its shares listed on the Nigerian
Stock Exchange.
Between
1925 and 1947, the ownership of DTN changed hands severally
including the acquisition in 1935 by Mr. R. B. Paul, a Liverpool
businessman, and that of Daily Mirror Group (DMG) in 1947. In
1963, the gradual transfer of ownership of DTN to Nigerians
commenced and by March 31 1974, following the promulgation of
the Nigerian Enterprises Promotion Decree, DTN became a wholly
owned Nigerian company.
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