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N17bn Debt Mess Rocking Guiness Nigeria Gets Messier…

Published

7 years ago

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A pharmaceutical company, Pharma-Deko Plc, has approached the Federal High Court in Lagos seeking the winding up of Guinness Nigeria Plc over an alleged debt of N175,669,317.99.

 

The claimant, in its suit marked, FHC/L/CP/69/2017, filed before Justice Hadizat Rabiu-Shagari, is praying the court to appoint an official receiver, who will act as a provisional liquidator of Guinness Nigeria Plc.

 

Its lawyer, Mrs. Williams Akinjide (SAN), said the winding-up petition filed by her client against Guinness was pursuant to the Provision of the Companies and Allied Matters Act Cap. C20, Laws of the Federation of Nigeria, 2004.

 

But Guinness, through its lawyer, Mr. Babatunde Fagbohunlu (SAN), had filed a preliminary objection challenging the jurisdiction of the Federal High Court to entertain the case.

 

Justice Rabiu-Shagari adjourned till tomorrow, March 28, 2017 to hear the objection by Guinness.

 

In the affidavit it filed in support of its winding-up petition against Guinness, Pharma-Deko claimed that the alleged debt of N175.6m stemmed from alleged breach of contract on the part of Guinness.

 

The Production Manager of Pharma-Deko, Olukayode Ishola, who deposed to the affidavit, said the parties had earlier gone through an arbitration proceeding where the N175.6m was awarded on July 1, 2016.

 

Ishola claimed that Guinness participated fully in the proceedings, adding that Guinness was contractually indebted to it in the sum of N175, 699, 317.99.

 

The deponent stated further that all efforts since July 1, 2016, to get the contractual debt paid had been ignored/refused by the Guinness Nigeria Plc, despite writing and forwarding several demand notices in pursuant to statutory laws.

But Guinness, in response urged the court to strike out Pharma-Deko’s suit for want of jurisdiction.

 

Among others, Guinness argued that a winding-up proceedings was not the proper mode of enforcing an arbitral award as set out in the law regulating arbitration proceedings in Nigeria.

 

Besides, it contended that the award, which Pharma-Deko sought to enforce was statute barred and unenforceable in law.

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Lagos Takes a Giant Leap Towards a Cleaner, Greener Future with Proper Waste Disposal Bins

Published

23 hours ago

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December 11, 2024

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Join the Movement to Build a Culture of Proper Waste Segregation and Disposal in Lagos. 

 

As part of its efforts to promote a cleaner, greener, and healthier environment, The Architects Place Ltd In conjunction with the Ministry of Environment and Water Resources has launched an initiative to provide proper waste disposal bins across the state.

 

The initiative, which is aimed at building a culture of proper waste segregation and disposal, is designed to encourage residents, businesses, and institutions to properly dispose their waste and recyclables.

The proper waste disposal bins, which are designed to accommodate different types of waste, including recyclables, organics, and non-recyclable waste, will be strategically located in public spaces, markets, and other high-traffic areas.

 

This will help to reduce the amount of waste that ends up in landfills and waterways, improving environmental health and reducing the risk of disease. By providing separate bins for recyclables, the initiative will encourage residents and businesses to recycle more, reducing waste and conserving natural resources.

 

We urge all residents, businesses, and institutions in Lagos to join us in this effort to build a culture of proper waste segregation and disposal. Together, we can make a difference and create a cleaner, greener, and healthier environment for all.

 

For more information on the proper waste disposal bin initiative, please contact:

 

Ministry of Environment & Water Resources, Alausa Lagos State.

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National Grid Collapses 12th Time In 2024

Published

23 hours ago

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December 11, 2024

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Nigerians were left in darkness on Wednesday following yet another collapse of the national power grid.

 

Since January 2024, the grid has collapsed 11 times.

 

 

In just one week in October, the grid failed three times, causing widespread blackouts and prompting reactions from Nigerians

 

 

A tweet from Nigeria’s National Grid official handle confirmed the collapse at approximately 2:09 pm on Wednesday.

 

“The major grid setback has occurred and the restoration is to commence,” the tweet stated.

 

 

 

 

More to come…

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Just In: Abuja High Court Denies Yahaya Bello’s Bail Request…..

Published

2 days ago

on

December 10, 2024

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A High Court of the Federal Capital Territory (FCT) in Maitama has rejected the bail request by former Kogi State Governor, Yahaya Bello.

 

Bello is standing trial, along with two others, on an alleged N110bn money laundering charge brought against him by the Economic and Financial Crimes Commission (EFCC).

 

Justice Maryanne Anenih, in a ruling on Tuesday, faulted the competence of Bello’s bail application, stating that it was filed prematurely.

 

Justice Anenih held that, since the application was made when Bello was neither in custody nor before the court, it was deemed incompetent.

 

She said: “Consequently, the instant application, having been filed prematurely, is hereby refused.”

 

 

 

More to come…

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