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Unpaid Debt: FBN urges court to Close Niger Insurance PLC

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  Based on alleged failure and inability to pay a debt of N137,248,000.00, First bank of Nigeria has filed a petition before a Federal high court sitting in Lagos southwest Nigeria urging the court to wind up Niger insurance plc. In a petition filed before the court by a Lagos lawyer Onyeka Ofoegbu, First bank of Nigeria Limited alleged that a Vessel LB Tamuno was pledged to it, the Vessel was insured and registered with a consortium of Insurance companies including Niger Insurance sometime in 2016.
Sometime in  August  2018,  the  Vessel was submerged and sank in deep waters as all efforts made to salvage the said Vessel proved abortive.
The Petitioner subsequently demanded the sum of N2, 496, 000, 000.00 as the total loss resulting from the sinking of the Vessel LB Tamino from the consortium of Insurers which sum was adjusted downward to the sum of N1,263,600.00 by the consortium of Insurers.
The Petitioner disagreed with the Net Underwriters Liability in the sum of N1,263, 600, 000.00 (One Billion, Two Hundred and Sixty-Three Million, Six Hundred Thousand Naira) with respect to the claim for insurance on the Vessel, LB Tamuno.
    Following an investigation carried out and a report provided by loss adjusters (Consultants) appointed by the consortium of Insurers to review the insurance claim, the amount claimed was adjusted and an upward review to the sum of N1, 572, 480, 000.00 (One Billion, Five Hundred and Seventy-Two Million, Four Hundred and Eighty Thousand Naira) was agreed as the claim sum and a form of acceptance executed by the Petitioner in May 2019.
The Petitioner avers that Niger Insurance  amongst other insurers was to pay 10% of the agreed sum amounting to N157, 248, 000.00
The Petitioner avers further that the Respondent has only paid the sum of N20 million, against the agreed sum of N157, 248, 000.00  and has since failed and refused to pay the outstanding sum due to the Petitioner.
The Petitioner avers that to date, Niger  Insurance Company has failed and refused to liquidate its indebtedness to the Petitioner and is now indebted to the Petitioner in the sum of N137, 248, 000.00(One Hundred and Thirty-Seven Million, Two Hundred and Forty-Eight Thousand Naira) being outstanding sum due on a claim for insurance on the Vessel, LB Tamuno.
   Due to the Respondent’s failure and refusal to liquidate  its indebtedness,  the Petitioner  wrote a letter of demand  to the respondent demanding the immediate liquidation of the  said debt but the respondent has  refused to liquidate its indebtedness
The Petitioner avers that the insurance company is financially weak and as a result, incapable of liquidating its debt owed to the Petitioner in the said sum of N137, 248, 000.00(One Hundred and Thirty-Seven Million, Two Hundred and Forty-Eight Thousand Naira). The Respondent’s indebtedness to the Petitioner is not in dispute.
The Petitioners contend that justice of this case will best be served if the Directors of the Respondent are personally made liable to liquidate the Respondent’s indebtedness having become unable to repay its debt.
    In the circumstances, it is just and equitable that the Company be wound up
The Petitioner therefore humbly prays as follows:
  That the Respondent, Niger Insurance Plc be wound up by the Order of the Court under the provisions of the Companies and Allied Matters Act 1990 due to its inability to liquidate its indebtedness of the sum of N137, 248, 000.00
An Order lifting the veil of the Respondent’s Directors and making them personally liable to liquidate the indebtedness of the Respondent to the Petitioner should the Respondent’s assets be unable to satisfy its indebtedness to the Petitioner
And for such other Order that the Honourable Court may deem fit to make in the circumstances
         The presiding Judge, Ayokunle Faji has adjourned the matter till the 23rd of June,2022.

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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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