November 30, 2022

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Great Ogboru In Financial Mess…As AMCON’s receiver-manager takes over his properties

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Chairman of Fiogret Nigeria Limited, Great Ogboru is not a happy man at the moment. Reason is that his financial base has depleted and this has led to his battling tooth and nail to wriggle himself out of the financial mess he has found himself.

Recently, the Asset Management of Nigeria (AMCON) appointed Kunle Ogunba (SAN), as the receiver-manager over “the entire undertakings, stocks, goodwill, plant and machinery, moveable and fixed assets” of Fiogret Limited.

A statement by the debt management stated that the appointment of the firm as the receiver of Fiogret assets was in line with a deed of mortgage debenture dated February 1, 2008 registered at the Corporate Affairs Commission (CAC).

AMCON said the deed of appointment of the receiver dated November 2, 2012 had equally been registered with the CAC. It listed some of the company’s assets now in possession of the receiver-manager to include 43, Norman Williams Street, off Awolowo Road, Ikoyi, Lagos; Plots 230-234 Ikorodu, Owutu-Ikorodu, Lagos; Plot 15 Layi Ajayi Bembe Street, Parkview Estate, Ikoyi, Lagos; Etete Road, off Benin-Sapele Road, Benin City and East West Road, Rumuokwurush Obio/Akpo Local Government Area, Rivers State.

AMCON therefore urged all debtors to Fiogret to pay directly to the receiver-manager.

The company’s creditors were also asked to send proof of claims to Kunle Ogunba within 14 days, which commenced last Friday.

It urged all banks and other financial institutions currently in custody of deposits, cash and other assets of Fiogret to continue to hold them until the receiver-manager issues further instructions “in accordance with the pre-emptive orders of court in suit: FHC/L/CS/63/2013 pending within the bosom of the Federal High Court, Lagos division.

“All holders of such deposits should contact the receiver-manager, stating the balance and where secured facilities are granted, the type of security attached should be disclosed,” AMCON said.

A receiver-manager appointed by a court is expected to carry on the activities of the business to protect the interests of those who appointed it. With this, the directors of the company would not be allowed to exercise their powers.

Those who are in the know claimed that Ogboru may have run into troubled waters because of the way and manner he spent money to pursue his gubernatorial ambition in Delta State. It was further revealed that it is only God that saved the people of Delta because if he had eventually emerged winner to govern the state he might have used the state resources to pay all his debts.

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UBA Foundation Rings in The Yuletide Season, Lights Up the Lagos Marina Africa’s Global bank, United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Tuesday, held its annual Christmas Lighting ceremony to mark the start of the festive season. The brilliant Christmas Lights of the UBA Foundation Gardens at the UBA Head Office on the Marina in Lagos, were activated by the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, in a grand ceremony which was witnessed by key management staff and some customers of the bank. Alawuba, who addressed attendees at the ceremony, reiterated that the annual Lighting event is a symbol of hope for the coming year, the future and all the goodness it will bring into people’s lives. Alawuba said, “The UBA Foundation is focused on touching lives and giving back to its host communities. UBA through its foundation, the UBA Foundation desire remains is committed to improving lives in whatever way we can. We want to give back always and this event is quite symbolic as it represents the affinity we have towards our customers, employees and associates as well as our communities.” The CEO of the UBA Foundation, Mrs Bola Atta, said that the Christmas lighting ceremony was important for the Foundation adding: “Today is significant. All over the world, it is known in the advent period as Giving Tuesday. It is a time to give back to those who don’t have enough. It is a time to shine light on others, to give hope and give gifts. Today we gave out a lot of gifts and people were happy as we lit up the Foundation gardens to symbolise joy and hope. We are constantly reminded as an institution, of our promise to continue to touch lives and show kindness. In these difficult times, sharing even a little bit, goes a long way.” The lighting ceremony was attended by UBA staff members and customers who were serenaded with Christmas carols by the UBA Customer Fulfilment Centre’s choir. It ended with a guided tour around the UBA Foundation gardens on the Lagos Marina. Over the years, the UBA Foundation has been very active in creating sustainable development in its host communities and as part of its corporate social responsibility, the Foundation will be feeding tens of thousands of people across Africa during this festive season. UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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2 min read

UBA Foundation Rings in The Yuletide Season, Lights Up the Lagos Marina Africa’s Global bank, United Bank for Africa, through its Corporate Social Responsibility Arm, the UBA Foundation, on Tuesday, held its annual Christmas Lighting ceremony to mark the start of the festive season. The brilliant Christmas Lights of the UBA Foundation Gardens at the UBA Head Office on the Marina in Lagos, were activated by the bank’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, in a grand ceremony which was witnessed by key management staff and some customers of the bank. Alawuba, who addressed attendees at the ceremony, reiterated that the annual Lighting event is a symbol of hope for the coming year, the future and all the goodness it will bring into people’s lives. Alawuba said, “The UBA Foundation is focused on touching lives and giving back to its host communities. UBA through its foundation, the UBA Foundation desire remains is committed to improving lives in whatever way we can. We want to give back always and this event is quite symbolic as it represents the affinity we have towards our customers, employees and associates as well as our communities.” The CEO of the UBA Foundation, Mrs Bola Atta, said that the Christmas lighting ceremony was important for the Foundation adding: “Today is significant. All over the world, it is known in the advent period as Giving Tuesday. It is a time to give back to those who don’t have enough. It is a time to shine light on others, to give hope and give gifts. Today we gave out a lot of gifts and people were happy as we lit up the Foundation gardens to symbolise joy and hope. We are constantly reminded as an institution, of our promise to continue to touch lives and show kindness. In these difficult times, sharing even a little bit, goes a long way.” The lighting ceremony was attended by UBA staff members and customers who were serenaded with Christmas carols by the UBA Customer Fulfilment Centre’s choir. It ended with a guided tour around the UBA Foundation gardens on the Lagos Marina. Over the years, the UBA Foundation has been very active in creating sustainable development in its host communities and as part of its corporate social responsibility, the Foundation will be feeding tens of thousands of people across Africa during this festive season. UBA Foundation, the CSR arm of the UBA Group, is committed to the socio-economic betterment of the communities in which the bank operates, focusing on development in the areas of Education, the Environment, Economic Empowerment and other Special Projects.

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