ASSETS MANAGEMENT CORPERATION OF NIGERIA SHUTS BEN MURRAY BRUCE FIRMS OVER N10BN DEBT

The Asset Management Corporation of Nigeria on Thursday morning sealed the Abuja, Lagos and Port Harcourt premises of Silverbird Galleria belonging to Senator Ben Murray-Bruce.

The Abuja Galleria currently houses the Abuja studio of the senator’s Rhythm FM radio station and Silverbird Television station as well as his other business interests. The one in Lagos hosts the Silverbird Cinema and outfits belonging to other people.

The buildings were sealed by AMCON through the assistance of officers of the Nigerian Police Force at about 8am, following a court order secured by the corporation.

The Federal High Court, Lagos Division, had on Friday, June 17, 2016, granted an interim injunction against Silverbird Productions Limited, Silverbird Showtime Limited, Silverbird Galleria Limited and Ben Murray-Bruce, Guy Murray-Bruce, Roy Murray-Bruce and Jonathan Murray-Bruce on the application of AMCON.

AMCON said in a statement that it had since appointed M. A. Banire SAN as receiver to the companies.

It added that Justice C.M.A. Olatoregun, while granting the order on the application of the counsel for AMCON, restrained Ben Murray-Bruce and other obligors that owed AMCON over N10bn from challenging, interfering with or obstructing or frustrating the receiver appointed by the corporation over the fixed and floating assets of the listed companies.

AMCON added that the senator had been in protracted negotiations with it over the indebtedness.

The corporation added, “Contrary to news making the rounds since the takeover, AMCON did not shut down the concerned companies. We appointed a receiver that took over the companies in the early hours of Thursday, June 23, 2016 as ordered by the Federal High Court and the receiver will be responsible for the companies on behalf of AMCON going forward.

“The court order affects the mortgaged asset located at Central Area, Cadastral Zone, AOO Plot No. 1161, Abuja; the mortgaged asset on Abonnema Wharf Road and Abali Park in Port Harcourt, Rivers State; as well as the mortgaged asset at 133 Ahmadu Bello Way, Lagos where the Silverbird Galleria is located.

“The court also ordered the Inspector General of Police, Assistant Inspectors General of Police, and the Commissioner of Police in charge of Lagos State and all other police officers under them to assist M. A. Banire SAN, the receiver; and the bailiffs of the Federal High Court in the enforcement of the orders of the court.”

Conspicuously written on the fence of the galleria in Abuja as well as other strategic locations was an enforcement notice by AMCON, which read, “Possession taken by court order — 23/06/16.”

AMCON also pasted a copy of the court order that gave it the right to seal the properties.

The court order, pasted on the walls of the property, was signed by the Registrar, Federal High Court, Lagos, Mr. Rasaq Sule.

The court order mentioned Ben Murray-Bruce, Guy Murray-Bruce, Michael Murray-Bruce, Roy Murray-Bruce and Jonathan Murray-Bruce as defendants in the suit.

It stated that AMCON had bought the indebtedness as an eligible bank asset from Union Bank of Nigeria.

Meanwhile, Ben Murray-Bruce, on his Twitter handle, said that the situation was already being resolved.

He wrote, “I have been on an international flight and have only just landed. The situation is being resolved and things will be back to normal.

“In 36 years, Silverbird has grown and like anybody, it will face challenges. Tough times don’t last, but we as tough people outlast them.”

HARRYSONG TO HOLD PEACE CONCERT IN NIGER DELTA: JULY 31ST

Abuja – Popular Nigerian Artiste and Gala Ambassador, Harrison Tare Okiri, popularly known as Harrysong says he has concluded arrangements to hold a peace concert in Asaba. Harrysong Harrysong Harrysong said on Friday in Abuja that the concert titled; “One Delta Harrysong Peace concert’’ was part of efforts to restore peace to the Niger Delta region. “I suspended the release of my album to do this concert because of what is happening in the Niger Delta right now. “I plan to use this concert to restore peace to Niger Delta amidst the recent happenings in that part of the country,’’ he said. He also stated that he would not be performing alone as some of his colleagues in the musical industry would be supporting the peace movement. “I won’t be performing alone, but alongside some of my colleagues in the likes of Patoranking, Sheyi Shay, Timaya, Olamide, Orezi, K-Cee, and many more. “The concert promises to be a unique one as we plan to use our talents to restore peace to our dear country. So fans, I can’t wait to see you all. “Thanks for your endless support! God bless Niger Delta and God bless our country Nigeria,’’ Harrysong said. He also encouraged the youth to think carefully before taking any action, rather than the other way round. The concert is scheduled to hold on July 31. adekunle View all posts by adekunle → Previous Post *OJB in hospital OJB’s family bitter over neglect by entertainers

ENERGY INVESTORS MERGE TO CREATE PAN-AFRICA POWER GROUP

LAGOS (AFP) - AFRICA FINANCE CORPERATION

Two major investors in African power projects announced Wednesday a joint venture that they said would help boost electricity output across the continent.

Harith General Partners and the Africa Finance Corporation (AFC) said the tie-up would allow improved financing and development of both renewable and non-renewable energy projects.

More than 620 million people in Africa live without electricity, the companies said.

The president and chief executive of the Lagos-based AFC, Andrew Alli, said the partnership would make "an invaluable contribution to improving generation capacity" throughout Africa.

The AFC has interests in Cenpower, which owns the Kpone Independent Power Plant in Tema, near Accra, which is due to come on stream in 2017 and provide some 10 percent of Ghana's energy capacity.

It also has a stake in Cabeolica, a wind farm in Cape Verde, off the West African coast, which provides 20 percent of the country's needs.

Harith, through the Pan African Infrastructure Development Fund it manages, has invested in the Azura Edo power plant in southern Nigeria, and Kenay's Lake Turkana wind power and Rabai thermal projects.

The Johannesburg-based financiers have also helped to finance the coal-fired Kelvin Power Station in South Africa.

All the projects combined provide energy to more than 30 million people in at least 10 countries, with a gross operational and under-construction capacity of 1,575 megawatts, the companies said.

Harith's chief executive, Tshepo Mahloele, said the merger will "create an African power entity that will have substantial capital, sector-specific experience, a critical mass of existing assets and a pipeline of credible power projects".

"Both power users and investors alike" will benefit, he added..