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N198 million debt: Court orders attachment of  Derilar company and it’s Directors accounts

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    A federal high court sitting in Lagos south-west Nigeria has ordered the immediate attachment of funds belonging to an Ibadan based company Derilar Enterprise Nigeria Limited to the tune of N198,061,091.61. Also affected by the order of the court are, the managing Director and alter Ego of the company Chief Dele Ajayi and two directors of the company Mrs Adenike Ajayi and Mrs OMOLARA Ajayi are also shareholders of the company. The presiding Judge Lewis Allagoa, also ordered AMCON to take interim possession of the two properties  stated below used as collateral for the loan
1. Plot No. 378, Area A2 Wuse I District, FCT covered by a certificate of occupancy No. FCT/ABU/OY.57 registered as No. FC 22 on page 22 in volume 18 of the Land Registry Office at Abuja.
2. Property of Chief Dele Ajayi at Iwo Road, Ibadan, Oyo state covered by a Deed of Assignment registered as No. 8 at page 8 in volume 2576 of the Land Registry office at Ibadan.
      The order of the court was as a result of an application accompanied by an affidavit sworn to and filed before the court on behalf of Asset management corporation of Nigeria AMCON by a Lagos lawyer Barrister John Duru.
   Barrister Duru avers that Derilar Enterprise company, is a company duly registered under the laws of Nigeria with its address at N5/871H Opposite Express Over-Head Bridge, Iwo Road Ibadan, Oyo State, the Company was a customer of  Trans International Bank Plc (now Heritage Bank), On the 24th of October, 2000, upon application of the company a loan facility of  N 40,000,000 (forty million Naira), was granted to the company by Trans International Bank Plc (now Heritage Bank).
    The purpose of the loan was to finance the execution of the contract awarded by the Osun State Government to the company “for the construction of ‘Type B’ New Secretariat Complex in Osogbo”
    The tenor of the facility was for a ten (10) month – period and the following properties were used as collateral for the credit facility:
Plot No. 378, Area A2 Wuse I District, FCT covered by a certificate of occupancy No. FCT/ABU/OY.57 registered as No. FC 22 on page 22 in volume 18 of the Land Registry Office at Abuja.
Property of Chief Dele Ajayi at Iwo Road, Ibadan, Oyo state covered by a Deed of Assignment registered as No. 8 on page 8 in volume 2576 of the Land Registry office at Ibadan.
   The Defendants having utilized the above-stated loan facility they obtained from the Bank,  defaulted in repaying the same.
      As a result of the defaults by the Defendants, the Bank wrote and sent out several letters demanding the Defendants liquidate their debt, however, they failed and/or neglected to do so.
      As a result of the default, the loan facility became toxic and was subsequently acquired as Eligible Bank Asset (EBA) by Asset management corporation of Nigeria (AMCON)
by virtue of its statutory powers and functions.
By virtue of the purchase, AMCON is statutorily empowered to administer and recover the loan from the Defendants.
AMCON sent demand notices to the Defendants to repay their debts arising from the loan facility granted them
 The Defendants’ letters dated 4th July 2014 and 30th September 2014, addressed to the Plaintiff, the Defendants actually acknowledged being indebted to the Plaintiff and sought time to offset same.
      However, after a series of meetings and negotiations with Plaintiff, Plaintiff restructured the loan with the Defendants to the tune of N60,000,000.00 (Sixty Million Naira) as a full and final settlement of the debts.
By the terms of the agreement, the Plaintiff made it clear to the Defendants that if they defaulted in paying the agreed N60,000,000.00 (Sixty
Million Naira) within the stipulated period being 30th September 2014, Plaintiff reserved the right to revoke the restructured payment proposal and demand for the entire outstanding sum of N198,061,019.61 (One Hundred and ninety-eight million, Sixty One Thousand nineteen naira and Sixty-one kobo).
That the Defendants, however, failed and/or neglected to repay the debts despite the concessions from the Plaintiff.
The default of the Defendants has caused serious financial and economic consequences on the activities of the Bank and its customers, who were the actual owners of the money.
That the current debts of the Defendants amount to the sum of N198,061,019.61 (One Hundred and Ninety Eighty  Million, Sixty One Thousand, Nineteen Naira, sixty-one Kobo).
Plaintiff is desirous of recovering the above-stated sum and also desirous of taking possession of all assets of the Defendants with the assistance of the Police, Sheriffs and Bailiffs of this Court pending the determination of the substantive suit.
The Plaintiff avers that noting the protracted default of the Defendants to liquidate their indebtedness, it has become manifest that except this Honourable Court intervenes in this case; the Defendants will tarry in their default therefore, it is needful for the court to restrain the Defendants as well as  listed banks from removing, deducting, transferring or howsoever tampering with any funds, shares or instruments standing to the credit of the Derilar company
 Unless this court grants this application, there is real and imminent danger of the Defendants removing from the jurisdiction or dissipating the assets thereby making the recovery process of the Plaintiff frustrated.
WHEREOF the Plaintiff claims against the Defendants are as follows: a
 An order of this Honourable directing the defendants to pay the sum of N198,061,019.61 (One Hundred and ninety-eight Billion, Sixty One Million, Nineteen Thousand naira and Sixty-one kobo) being their outstanding indebtedness to the Plaintiff.
An order of this Honourable Court directing the Defendants to pay post judgement interest at the rate of 15% per annum from the date of judgement, till the final liquidation of the entire sum.
Cost of this action is the sum of N5,000,000.00(Five Million Naira).
      The presiding Judge, Justice Lewis
Allagoa, after hearing the submission of David Idang counsel for the plaintiff’s move in terms of the motion paper, the court careful consideration of the application and submission of the counsel, It is  hereby ordered as follows:
      That the order of this court granting leave to the plaintiff to take interim possession of the properties of the defendants at :
Plot No. 378, Area A2 Wuse I District, FCT covered by a certificate of occupancy No. FCT/ABU/OY.57 registered as No. FC 22 on page 22 in volume 18 of the Land Registry Office at Abuja.
Property of Chief Dele Ajayi at Iwo Road, Ibadan, Oyo state covered by a Deed of Assignment registered as No. 8 on page 8 in volume 2576 of the Land Registry office at Ibadan which was transferred via a deed of a legal mortgage by the defendants to Enterprise bank and Intercontinental bank which AMCON purchase from the bank.
     Any other landed, movable, immovable, tangible, intangible, traceable assets within Nigeria, whenever found or situated within Nigeria pending the hearing and determination of the substantive suit.
     An interim order is granted mandating all the  27 banks and other financial institutions to disclose detailed banking, financial, and commercial information of the defendants within 7 days of service of the order on them.
       An order is granted freezing and attaching the various bank accounts of the defendants to the tune of N198,061,019.61 domicile in 27 banks listed before the court. pending the determination of the substantive suit.

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We are committed to a Clean Environment – LAWMA Boss

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…Appeals for waste containerisation

Lagos Waste Management Authority (LAWMA) has reassured residents of firm commitment to a clean environment despite the challenge of diesel scarcity, while also appealing to them to bag and containerise their waste. The Managing Director/CEO of LAWMA, Mr. Ibrahim Odumboni, stated this on Friday while monitoring the environment, adding that efforts were being intensified, to clear any backlog of refuse, and to stop acts of indiscriminate waste disposal around the city.

He said: “We have redoubled our efforts, working round the clock to ensure that we evacuate all waste anywhere around the city. Although the scarcity and high cost of diesel has been a major challenge, as all service providers’ trucks run on diesel, nonetheless, we are doing the needful and leaving no stone unturned, to maintain a clean environment and prevent health hazard to the people”.

“Over preceding months, we have rolled out advocacy and media sensitisation campaigns, to inform and educate residents on the importance of environmental cleanliness, particularly the act of waste containerisation. We have also supported efforts of PSP operators, by providing backup services in areas that experienced service gaps, with the overall aim of eradicating black spots across the metropolis”.

He appealed to residents to properly bag and containerise their waste to allow more storage period and prevent littering.

According to him, “The resurgence of waste observed in some areas of the metropolis is borne out of the unforeseen diesel challenges the service providers are experiencing, and since tenements cannot keep waste in their houses, have resorted to bringing it to the highways, which isn’t proper.”

“While we strongly reiterate the importance of waste containers at home, we passionately appeal and canvass for public cooperation, to combat a resurgence of waste on road medians, canals and other illegal spots.”

“We are assuring Lagosians of our total commitment to rid the environment of dirt. As we work day and night to make this happen, we urge you to support our efforts because the cleanliness of the state is a collective responsibility”, he stressed.

Odumboni noted further that despite the serious logistics challenges faced by PSP operators, as a result of the increase in the price of diesel, they had continued to provide services to tenements, adding that the Authority, in order to ensure effective turnaround time of waste collection trucks, had also ensured that landfills in the state are in proper shape.

“Before now, we had carried out massive rehabilitation work across our various landfills, to improve the turnaround time of PSP trucks servicing tenements and commercial facilities in the state. This has improved condition of the sites, paving way for seamless waste collection activities”, he stated.

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Apostle Suleman at Holy Ghost Conference: Christianity is Warfare, Not Funfair

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Apostle Johnson Suleman

 

Christ-centred preaching is biblical and practical. Preaching, according to Apostle Johnson Suleman, the general overseer of the Omega Fire Ministries (OFM) worldwide, should draw people to Christ by showing the world that Christ is better than the things man often places his hope in. At the OFM’s ‘Holy Ghost Conference, which was held a few days ago, the man fondly called ‘The Restoration Apostle’ suggested in his teaching that lives indeed are changed by true transformation which comes when Jesus Christ is preached intensely into people’s hearts.

A common philosophy shared by many African cultures simply states that ‘life is warfare.’ Apostle Suleman says because Christ is life, then Christianity is warfare, not funfair. This old maxim, Suleman asserts, is well attested to by the Scriptures, that man’s existence is warfare. But how does man confront warfare? He said that, though the warfare needs some sort of weapons to be executed, the weapon needed by true Christians to combat the forces militating against their well being, is spiritual weapon.

“Christians are not into physical combat. We are involved in spiritual battles. So, our weapons are spiritual. They are divine,” he declared, adding that “it is only normal that one executes a spiritual warfare with spiritual weapons, as you are expected to confront the power of darkness with physical weapons.”

His words;

“When you become a child of God, you have been translated from one kingdom to another kingdom. And the kingdom where you’re translated from is not going to fold their hands, it will come after you‍. Christianity is not funfair, it is warfare. No good Christian is weak. The devil will come for you whether you’re ready or not. Yet, having weapons is good but knowing how to deploy them effectively is better‍( Psalm 78:9).”

While cautioning Christians to be in position to really confront the power of darkness by putting on the whole armour, Apostle Suleman said “our God is a God of war. It is warfare that unveils welfare. Your welfare is in your warfare‍️. You cannot walk into the kingdom of hell without holding dangerous weapons. That is the armour. What makes you a terror to hell is when you have the understanding of how the weapons of God operate. Satan knows when you know. Satan thrives when man is ignorant and spiritually blind,” he declared, adding that, “Christians’ weapons of warfare are not only spiritual, but are also very potent. They are very strong. They are very efficient. The potency of these weapons is seen in the fact that they can pull down strongholds; cast down arguments and everything that exalts itself against the knowledge of God; it brings every evil thought into captivity. That is why Jesus Christ said to the disciples, “I am sending you out as sheep among the wolves.”

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Grace Nation: Thanksgiving is a Prophetic Application for More blessings from God – Dr Chris Okafor

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* Mid year Cross over end with many testimonies

*Couple dedicated miracle baby after 16 year of waiting

Thanksgiving is a testimonies address to God that qualify you for more mind-blowing miracles, when you give thanks you challenge God to do more. This and more are the declaration of God servant and the Senior Pastor of Grace Nation International aka Liberation city Dr Chris Okafor at the Thanksgiving Service of the just concluded Mid-year Cross over Conference held at the International Headquarters of the church in Ojodu Berger Lagos Nigeria

The Oracle of God as he is fondly called by the faithful said anytime you did not give God thanks for his glory, it seems as if you eat what belongs to him and when you do that the blessings you are entitled to will not come but when you do, your abundance blessings is guaranteed

In his sermon with subtitles The Powers of Thanksgiving, the Generational prophet of God said Thanksgiving Ginger Almighty God to put you in the Book of breakthrough, he said whatever condition you meet yourself gives thanks

More than 42 families dedicates their miracle babies across the world at the special Thanksgiving service, among them was a family who has been married for over 16 years without the fruit of the womb they dedicates their miracle baby at the services, saying it can only be the God of Dr Chris Okafor who have to bless them with a baby

The Special Thanksgiving service came to a close as famous Nigeria popular Gospel Artiste Gabriel Peters treated participants to melodious Praise and worship songs

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