The Daily Times of Nigeria Plc was incorporated in Nigeria in 1926. Originally it had the name, Nigeria Printing and Publishing Company. This was later changed.
At the height of its operations and business, the House had over 20 titles in its stable.
Some of them are The Daily Times, The Sunday Times, Weekend Times, Lagos weekend, Sporting Times, The Headlines etc. The Daily Times and Sunday Times circulated around 500,000 and 800,000 per publication day respectively. The titles especially the Daily Times and the Sunday Times were very influential.
In 1975, the Federal Government of Nigeria took over the Newspaper House.
Government acquisition of the controlling shares of the company, 96.5% and appointing its Management saw the progressive plummeting of the financial status of the company downwards. Over several successive years, the company had to rely on annual subventions of about N400m appropriated from the public treasury.
In 2003, the shares of the company as held by the Government, 96.5% was offered publicly for sale. The public offer elicited no tangible response. Another attempt was made in 2004 by listing the company for privatization through the Bureau of Public Enterprises, BPE.
Offers were pruned and appraised through a transparent and rigorous public bidding. The event was televised nationally. Folio Communications Limited was considered and adjudged the preferred bidder in May 2003 having met the technical and financial bidding aspects of the exercise directly, while the Folio Communications Limited in June 2004 paid its bided offer of N1.250b to the Government. It became apparent that Daily Times of Nigeria Plc had N2b naira assets with contingent N1.5b worth of liabilities
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 still not a consortium. It is a Private Limited-Liability Company.