The headquarters of a popular weekly magazine, TheNews, and an evening tabloid, PMNews was on Wednesday evening gutted by fire.
The fire, which started at 6.30pm, however, affected the last floor of the two-storey building on Acme Road, Lagos.
It was learnt that the inferno was caused by a power surge.
An employee of the Independent Communications Network Limited, the publishers of TheNews, who spoke on condition of anonymity, said nobody was injured in the incident.
He, however, said the fire destroyed every equipment and property in the affected floor.
He said, “The fire was very ferocious. I think the fire was caused by power surge. When the power supply was restored, the voltage was high and some employees did not switch off their systems.