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Court orders attachment of  MD, 2  directors of P.C Outlet Company’s account over N168million debt

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 A federal high court sitting at iIkoyi Lagos State, southwest Nigeria has granted an order freezing and attaching the bank accounts to which the Managing Director of P C Outlet Limited Company, Mr. Onyema Okonjo and two directors of the company Mr. Kenneth Njoku and Mr. Ernest Awuionu are signatories and maintain in 15 commercial banks in Nigeria to the tune of N168,431,375.61, being the adjudged indebtedness and accrued interest up till 28th of February 2021.

The court also directed Corporate Affairs Commission to place a lien on the shares of the defendants held in a limited liability company GIANT BEVERAGES LIMITED pending the determination of the substantive suit.
The presiding Judge, Daniel Osiagor, also granted an order to AMCON to enter into and take possession of the property lying at Plot 18, Block 130, Lekki Peninsula Residential Scheme, Eti-Osa Local Government Area of Lagos State which was pledged as security by a third party deed of legal mortgage for the facility granted to P C Outlet Limited company.
Justice Osiagor made the orders, after listening to the argument canvassed by a Lagos lawyer, Barrister Laolu Owolabi from the law firm of Bonajo Badejo and S.E.Omoragbon for the defendants not opposing.
According to an affidavit in support of a debt recovery suit sworn to by a legal practitioner, Mr. Francis Oloruntoba, filed and argued before the court by Barrister Owolabi on behalf of Asset Management Corporation of Nigeria AMCON, Oloruntoba averred that a private Limited liability company P C Outlet Limited, registered in Nigeria to carry on the business of trading, marketing, sales and distribution of general goods was advanced various facilities by Eligible Financial Institution between 7th September 2007 to 15th October 2008.
The various facilities were secured by, full and unconditional personal guarantee of the Managing Director/Chief Executive officer of the company  Mr. Onyema Okonjo, while his wife Mrs. Udokanma Mary Ane Okonjo executed a Third-party legal Mortgage as security for the facility obtained by P C Outlet Limited.
Mr. Onyeama Okonjo, Mr. Kenneth Njoku, and Mr. Ernest Awuionu, as Directors of P C Outlet Limited were instrumental to how the facility was sourced, applied for and granted as well as the way and manner the facilities granted to the company from the Eligible Financial Institution were utilized at the material times.
         However, the Directors of the company were alleged to have failed to fulfill all the conditions in the offer letters and defaulted severally.
Upon acquisition of the Eligible Asset, AMCON instituted a legal action against P C Outlet Limited and the court presided over by Justice Ibrahim Buba of the Federal high court entered judgment in the sum of N132,103,039.70 against the company. The court also awarded 10% post-judgment interest from 28th May 2018 which had accumulated to the total sum of N36,328,335.91 as of 28th February 2021.
On 11th February 2021 AMCON appointed the law firm of Bonajo Badejo & company to enforce and recover the outstanding facilities and in furtherance of the mandate by AMCON, the law firm took steps to investigate the defendants and discovered that Mr. Onyema Okonjo who is the Managing Director/Chief Executive Officer of the company and sole signatory to the account of P C Outlet company maintained with the Eligible Financial Institution had diverted the funds of P C Outlet to establish another company called GIANT BEVERAGES limited and owns the controlling shares.
Consequently, AMCON has no other option to recoup the defendants’ indebtedness if this application is not granted and the property is dissipated by the defendants.
       Justice Osiagor while acceding to the request of AMCON, adjourned till 27th of July,2021 for hearing of the substantive suit.

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BREAKING: FBI INDICTMENT: IGP SUSPENDS DCP ABBA KYARI, INAUGURATES 4-MAN PANEL FOR INVESTIGATION

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Sequel to the level of the numerous allegation of corruption leveled against super cop DCP Abba Kyari by the FBI over his involvement in taking funds from Celebrity fraudster Abass Olorunwa known as Hushpuppi, The Inspector-General of Police, IGP Usman Alkali Baba, psc (+), NPM, fdc has recommended the immediate suspension of DCP Abba Kyari, the Head of the Police Intelligence Response Team (IRT), from the Service of the Nigeria Police Force, pending the outcome of an ongoing internal investigation touching on him.

 

The IGP, in his letter to the Police Service Commission, dated 31st July, 2021, noted that the recommendation for the suspension of the officer is in line with the internal disciplinary processes of the Force. The IGP further noted that the suspension is also expected to create an enabling environment for the NPF Special Investigation Panel to carry out its investigations into the weighty allegations against DCP Abba Kyari without interference. The suspension is without prejudice to the constitutional presumption of innocence in favour of the officer.

The Special Investigation Panel (SIP), comprising four (4) Senior Police Officers, is headed by DIG Joseph Egbunike, the Deputy Inspector General of Police in charge of the Force Criminal Investigations Department (FCID). The SIP, inter alia, is to undertake a detailed review of all the allegations against DCP Abba Kyari by the US Government as contained in relevant documents that have been availed the NPF by the Federal Bureau of Investigation (FBI). The SIP is also to obtain a detailed representation of DCP Abba Kyari to all the allegations leveled against him, conduct further investigations as it deems fit, and submit recommendations to guide further actions by the Force Leadership on the matter.

Meanwhile, the IGP has reaffirmed the commitment of the Force to the Rule of Law and assured the public of the sanctity of the probe as well as the absolute respect for the rights and privileges of the officer throughout the period of the investigations.

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NAS tackles NBC over censorship of Media

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PYRATES

 

The National Association of Seadogs (Pyrates Confraternity) has kicked against what it called “blatant assault on press freedom” by the National Broadcasting Commission (NBC). The organisation declared that the directive by the regulatory body to Television and Radio stations not to “divulge” details of bandits, kidnappers and terrorists during Newspaper Reviews is unconstitutional as it violates freedom of expression of citizens and seeks to prevent the press from performing its duties enshrined in Section 22 of the 1999 Nigerian Constitution (as amended) to hold government accountable on behalf of the people.

The NAS Capoon, Mr Abiola Owoaje in a statement titled: “NBC’s Bullying of the Media Unacceptable” stated that the regulatory body by its latest action wants to suppress press freedom and restrict access of information to Nigerians.

According to Owoaje, NBC by the directive intends to criminalise journalism and prevents victims of terrorism, banditry and other associated crimes from getting justice.

“The National Association of Seadogs (Pyrates Confraternity) notes with considerable concern the sudden brazenness, repressive instincts and open partisanship being exhibited by the NBC in the interpretation of its regulatory remit in recent times. We unequivocally condemn these unethical attempts by the NBC to browbeat radio and television stations, and other organs of the Press, in a desperate bid to cow the Press.
Besides, we cannot find any justification for the bizarre NBC
directive; even on the hackneyed excuse of a security necessity, other than to
keep Nigerians in the dark about the uncomfortable reality of the insurgency
and the seeming inability of the security agencies to halt the spate of
insecurity across the country,” he said.

Owoaje stated further that contrary to what the security agencies would want Nigerians to believe, ferocious attacks on insurgents, kidnappers, killer herdsmen and bandits continue unabated in the country.
“We implore the executive arm of government to rein in the NBC to desist from its overt clampdown on press freedom.

The NBC should withdraw its illegal directive as it is unhelpful and counterproductive to the fight against insecurity in the country. Rather than see the media as the enemy, the media should be seen as a patriotic partner that can rally Nigerians to support the efforts of the government in tackling the myriad of security challenges afflicting our country. A free and unfettered press makes democracy thrive and is not merely a liberal indulgence. This is what Nigerians need. This is what we demand. We reject the shackles the NBC wants to foist on the media,” the statement added.

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ATTWON elects Ayo Omotosho at 5th AGM

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At the 5th AGM Meeting of ATTWON held at the Association’s Secretariat in Lagos on 23rd July 2021, Mr. Ayo Omotosho of Travelogue Communications was elected the second President of the Association with Mr. Lekan Akinruli as the Gen Secretary.

 

 

The Pioneer President, Ms. Omolola Itayemi of Your Travels Start Here(YTSH) replaces Mr. Tayo Adelaja of Infotrust Multimedia as the BOT Chairman. In his acceptance speech as the President, Mr. Omotosho was full of praises for the pioneer president who has successfully pioneered the first and only registered travel association in Nigeria for 5years.

Mr. Tayo Adelaja

 

He stated that the 4th AGM was meant to be the election year but for the pandemic that held sway all over the world, the 4th AGM couldn’t hold. However, ATTWON, a developmental travel association has not relented in training, opening up the travel and domestic landscape within and outside the shore of Nigeria. Mr. Omotosho promised to build on the solid foundation laid by President Emeritus, Ms. Itayemi while also bringing in innovations and laudable growth befitting the status of the association.

Prof Bambo Somuyiwa of LAUTECH, Ogbomoso that attended the AGM commend the association for their tutelage of their students who have gained immensely from both online and physical training about travels within and outside Nigeria. He stated that “ATTWON won my heart when they approached me in 2018 about taking the transport department students on their roles and importance to domestic tourism.

 

 

I attended the first training in late 2018. The three-tiers training in 2019 was superb! Despite the pandemic, they held series of online talks and training with the sophomore and graduating student on how to be self-reliant in 2020. I had to ensure that I was also present to deliver a paper, gift and commendation on behalf of my students and the department.

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