Caverton Boss, Remi Makanjuola “Heavily Dejected” Over N2.422bn Loss

According to a report available

Remi Makanjuola has gotten to that threshold in a man’s life when brooding tragedy and its dark shadows can only be lightened by recalling great moments of the past. The owner of Caverton Caverton Offshore Support Group, recently lost N2.422 billion to devaluation of the naira. It is for this sad reason that he is down. The impact of Naira devaluation against the US dollar by the Central Bank of Nigeria (CBN) is no doubt devastating on him thus he is despondent,
unsure and wary of what lies ahead. Remi, like the proverbial yo-yo, is manipulable and subject to the whim of gravity and the arbitrary string of fate.

Caverton, provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria, last week reported a loss of N2.422 billion for the half year ended June 30, 2016, compared with a profit of N1.093billion in the corresponding. The company had sent a profit warning saying it would report lower earnings for the H1 of 2016. More mischievous elements in industry are spreading malicious gossip that as the great organism would pass at a stroke out of life into history, the Caverton boss might be unable to recover from his current fiscal catastrophe anytime soon. But sources loyal to Remi have dismissed their insinuations as arrant nonsense. According to them, Remi will bounce back and recover his loss in due time.

thecapital