The Daily Times is a newspaper with headquarters in Lagos.At its peak, in the 1970s, it was one of the most successful locally owned businesses in Africa. The paper went into decline after it was purchased by the government in 1975. What was left was sold to a private investor in 2004. Folio Communications Limited officially assumed the ownership of the Daily Times of Nigeria Plc on September 3, 2004 after a colorful handover ceremony that was televised. The company was not and is still not a consortium. It is a private limited-liability company.