General
Dokpesi, Tony Momoh, Osigwe Foods, Others in Trouble Over N5.4b Debt
Asset Management Corporation of Nigeria, AMCON, has filed an application before a Federal High Court in Lagos, urging the court to enter final Judgement on admission in the sum of N1,467,166,809.78 in its favour against a limited liability company, Osigwe Foods and Agro Industrial Company Limited and ten directors of the company.
The directors are: Prince Tony Momoh, Retired Vice Admiral Akin Aduwo, Chief Felix Dopkesi, Dr Idris Shehu, Abdulrahman Raji Usman, Osigwe Abdulazeez Mohammed, Modupe Yewande Mohammed, Anslem Kayode Mohammed, Bai -Yan Chen and Ibrahim Abdul -lateef.
The debt recovery agency is also demanding 18% interest on the said sum per annum from the 28th day of February, 2011 to date of judgement and post judgement interest at the rate of 10% per annum until the final liquidation of the adjudged sum.
In an affidavit in support of the application sworn to by a legal practitioner, Micheal Nwigbo and filed before the court by a Lagos lawyer, Chief Aloy Ezenduka, the deponent averred that by facility letter dated 17 July, 2007 and the board resolutions dated 24 July, 2007 and 10th December, 2007, eligible financial institution, Union bank of Nigeria Plc on the application of Osigwe Foods and Agro Industrial Company limited and under the directing minds of the aforementioned directors granted various overdraft facilities totaling N3,887,229.257.43.
By another facility letter dated 27 July, 2010, Unity Bank Plc granted loan facility of N1 billion to Osigwe Foods and Agro Industrial Company at the interest rate of 18% per annum.
Anslem Mohammed represented himself as the Managing Director of the company and executed Board resolutions permitting the acceptance of the facilities with him signing off as Managing Director of the company, he also personally guaranteed the loan facility granted the company.
The following were pledged to secure the term loans, overdraft and confirmation line facilities: Deed of Debenture dated 16 June, 2008 in favour of Ecobank Nigeria Plc by the company; notarized statement of networth of the Anslem Kayode Mohammed dated 17 April, 2017 in favour of Ecobank Plc; Deed of Tripartite Legal Mortgage between Osigwe Food and Agro Industries, Anslem Kayode Mohammed and Unity bank Plc over the property covered by deed of Assignment and letter of personal guarantee executed by Anslem Mohammed of Unity bank Plc. dated 30 August, 2010.
The affidavit said efforts made by the claimant to recover the debt from the defendants despite repeated demands proved abortive and that the defendants had willingly and without compulsion admitted owing a substantial sum of N1,467,166,809.78 and that the total indebtedness of the defendants to the claimant as at the 19 October, 2017 stood at N5,420,493,609.19 comprising the principal sum on the overdraft facility, interest and other bank charges and will continue to increase each day and that it will be the interest of justice to enter judgement for the admitted sum and the residue set down for trial on the merit.
Mr Nwigbo averred further that the Osigwe Foods and Agro Industrial company limited and its directors despite admitting their indebtedness have not paid the admitted sum at all,and they have no defence to the legal action and any defence crafted will only be a sham defence.
Source: PM News
General
Unlocking Profitability: The Benefits of Hiring a Property Management Company in West Palm Beach
West Palm Beach’s vibrant real estate market beckons both seasoned and novice investors looking to reap substantial returns. However, property ownership comes with its fair share of challenges, including day-to-day maintenance, tenant relations, and the nuances of legal compliance. This is where the expertise of a property management company becomes invaluable. An efficient property manager can alleviate these burdens, permitting owners to enjoy their investments’ benefits with fewer headaches. Keep reading to discover how property management in West Palm Beach can enhance your real estate experience and profitability.
Unlocking Profitability: The Role of Property Management Companies in West Palm Beach
Property managers play a huge role in keeping rental properties profitable, especially in a competitive market like West Palm Beach. They handle the day-to-day work that often drains an owner’s time, from setting the right rental rates to advertising vacancies. Thanks to their knowledge of local trends, West Palm Beach Property Management teams help attract reliable tenants and keep units occupied.
They also serve as the bridge between owners and renters, managing everything from screenings and inspections to repairs and conflict resolution. By keeping properties well-maintained and responding quickly to tenant needs, they boost satisfaction and encourage long-term leases, ultimately protecting property value and strengthening steady cash flow for owners.
Enhancing Real Estate Value through Professional Property Management
Professional property management plays a key role in increasing long-term property value. These teams guide strategic upgrades and renovations that boost appeal and competitiveness in the West Palm Beach market. Consistent maintenance schedules protect essential features, prevent costly repairs, and support stronger property assessments. Skilled managers also anticipate market trends, directing improvements that align with evolving tenant expectations and help properties attract higher rents and responsible occupants.
By coordinating directly with contractors and service providers, they ensure all work meets professional standards while securing competitive pricing through established vendor relationships, giving property owners both savings and confidence in the care of their investment.
Streamlining Operations: How Property Management Saves You Time and Money
Property management services save investors valuable time by handling daily rental operations such as tenant acquisition, maintenance, and administrative tasks. Their expertise creates a streamlined system that frees owners to focus on growth or other pursuits. These firms also help reduce long-term costs through market knowledge, supplier discounts, and preventive maintenance that avoids expensive repairs.
They support strong financial performance with organized tracking of income, expenses, and profitability, making accounting and tax preparation easier. Their skill in budgeting and forecasting helps protect returns and keep investments on track, giving owners more flexibility while maintaining strong rental performance.
Attracting and Retaining Tenants with Expert Property Management Services
Property management companies play a vital role in attracting and keeping reliable tenants by using strong marketing tactics and thorough screening. Their tenant retention efforts, consistent communication, quick responses, and a respectful environment help reduce turnover and encourage long-term leases. Tenants feel more secure knowing they have a dependable point of contact for issues, which boosts satisfaction and stability.
Skilled managers also handle lease renewals and negotiations to maintain favorable terms. With deep awareness of tenant preferences and local market trends, they guide owners in adding desirable amenities that elevate a property’s appeal within West Palm Beach’s competitive rental market.
Navigating West Palm Beach’s Real Estate Legal Landscape with a Property Management Partner
Navigating property law and evolving regulations can be challenging for property owners, making legal compliance a complex task. Property management companies provide expertise in staying current with local, state, and federal laws, helping landlords avoid costly mistakes. They serve as advocates during tenant disputes or legal conflicts, managing issues professionally and, if needed, representing owners in court or negotiations.
These companies also draft and enforce comprehensive lease agreements, minimizing misunderstandings and fostering smooth landlord-tenant relationships. By implementing fair policies and rigorous safety measures, property managers reduce the risk of discrimination claims, safety violations, and other legal repercussions, ensuring both tenant protection and the long-term success of the property.
Altogether, engaging the services of a professional property management company in West Palm Beach is a shrewd investment in real estate success. Property owners benefit from the expertise that not only safeguards but also magnifies the potential of their assets, allowing them to enjoy the fruits of investment with minimal hassle.
General
Pastor Ogbueli’s Abuja Night of Glory Holds Today
By Blaise Udunze
Momentum is gathering for the Abuja Night of Glory taking place today, Friday, December 5, 2025, at the main bowl of the Moshood Abiola National Stadium.
The crusade is being hosted by Dominion City Church headed by Pastor David Ogbueli and it starts by 7pm.
The all-night programme will feature dynamic worship leaders like Nathanial Bassey, Dunsin Oyekan, Theophilus Sunday, Chioma Jesus, Kaestrings, Sunmisola Agbebi Okeleye, Minister GUC, Ebuka Songs, Anthony Kani, and DC Angels.
Reputed as a teacher of righteousness and anointed minister of the gospel, evidenced by the miracles that have trailed his ministry, and one who champions the cause of the poor through empowerment initiatives, Dr. David Ogbueli will be joined by renowned ministers from within and outside Nigeria, including Evangelist Andres Bisonni, Dr. Charles Ndifon, Evangelist Dan Scott, Apostle Ikechukwu Nnajiofor, and several others.
Night of Glory has, in previous editions held across Nigeria’s cities, recorded remarkable results, such as immediate healings and freedom from chronic ailments, recovery of vision and movement after many years of paralysis, along with liberation from dependencies and emotional distress. Numerous participants have also shared testimonies of breakthroughs and big personal changes after the experience. Organisers state that this year’s event, in Abuja, is anticipated to exceed previous editions.
The event is intended for all individuals trusting God for divine intervention in any area of life.
Understanding the role of faith in the destiny of individuals and nations, a dedicated prayer session for Nigeria will take place during the crusade to tackle some of the current challenges being faced in the country and also to uplift he leaders and institutions before God.
Attendance is free, and registration is encouraged via the QR codes on event banners. Organisers expect a massive turnout as worshippers travel from across the country for what is anticipated to be a transformative encounter.
Adequate security and free transportation have been put in place ALL over the city of Abuja, while those outside Abuja are expected to join online.
General
Rivers Speaker, 15 Other Lawmakers Leave PDP for APC
By Modupe Gbadeyanka
The Speaker of the Rivers State House of Assembly, Mr Martin Amaewhule, has defected to the All Progressives Congress (APC).
At the plenary on Friday, Mr Amaewhule joined the ruling party from the opposition Peoples Democratic Party (PDP), along with 15 other members of the state parliament.
This development comes some months after they had earlier declared their support for the APC in the wake of a crisis with the state governor, Mr Sim Fubura.
The lawmakers had an issue with Mr Fubura, which led to a state of emergency declared on the oil-rich state by President Bola Tinubu in March 2025.
This embargo was only lift in September 2025 after the duration of the six-month emergency rule in the state.
A few days ago, members of the Rivers Assembly passed a vote of confidence on President Tinubu, backing him to remain in office till 2031, when he would have spent eight years in office if re-elected in 2027.
Announcing their defection today, the lawmakers pinned their decision on the crisis rocking the PDP at the national level.
It is not certain if their political godfather, Mr Nyesom Wike, who is the current Minister of the Federal Capital Territory (FCT), will join them in APC.
Mr Wike, who governed Rivers State from 2015 to 2023, has been accused of instigating the crisis in the opposition PDP. He was expelled from the party last month at a national convention held in Ibadan, Oyo State.
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