₦airaland Forum

Wow! This is a real case study, thanks for this, I was about researching what happened to the company

SixSeven:
Exactly what came to my mind. I am just surprised by the OP saying the 1993 person is that old


Nigergrob Ceramics Limited was a notable ceramic manufacturing industry located in Abeokuta, Ogun State, Nigeria. Established in the 1980s, the company became the subject of major Nigerian corporate and legal cases, including a landmark receivership case (U.B.A. Trustees Ltd v. Nigergrob Ceramics Ltd) regarding the extent of receiver and director powers. Financial distress and that litigation eventually led to its closure, turning it into a textbook legal authority for Nigerian corporate insolvency frameworks under the Companies and Allied Matters Act (CAMA).



Story of their death:
In the early 1980s, Nigeria was trying hard to build up its local industries. A company called Nigergrob Ceramics built a big factory in Abeokuta, Ogun State. Their plan was to make floor tiles, wall tiles, and bathroom sinks locally because the construction business was booming. To buy all their heavy machinery and set up the factory, they borrowed a huge amount of money from United Bank for Africa. The bank managed this loan through U.B.A. Trustees Limited. As security for the loan, Nigergrob signed a contract that gave the bank the right to seize the factory and all its equipment if they failed to pay the money back.


Everything started well, but the late 1980s and 1990s brought tough economic times. The national power grid became very unreliable. Ceramic factories need their ovens to run constantly, so Nigergrob had to spend a lot of money on diesel generators. At the same time, the cost of raw materials went up, and they could not find local technicians to fix their complex machines. Production stopped, and the company completely ran out of money. Since Nigergrob could not pay back its debt, U.B.A. Trustees stepped in, locked the factory gates, and hired a legal manager called a receiver to take over everything and sell it off to get the bank's money back.


The original owners and directors of Nigergrob refused to leave quietly. They took the bank to court, arguing that the bank had no right to strip them of their authority. This became a famous legal battle called U.B.A. Trustees Ltd v. Nigergrob Ceramics Ltd. The case went all the way to the Court of Appeal. The judges finally ruled that when a bank takes over a broke company, the bank's manager gets full control of the business and the assets, but the original directors still keep a few basic rights, like the power to fight the takeover in court. Sadly, while the lawyers argued for years, the expensive factory equipment just sat there and rusted. Nigergrob never reopened, and the factory in Abeokuta remains abandoned to this day.
Nigergrob Ceramics died because the bank seized their factory over unpaid debts, while severe power outages and a crashing Naira made manufacturing too expensive to survive.

Just imagining the number of graduates that would have been gainfully employed, the suppliers, economic value chain, the breadwinners and even revenue generation that did not happen because the factory was allowed to die and rot

Sorry to say but I'm not praying for Morocco to stop France, Morocco need to go for France to retire Messi

judewrites:
Africa football who do you?

Morocco will definitely bow to France.

I stopped watching a long time ago, the script has already been written

I'm done watching. This world cup is already sold.
They don't even hide it these days

Africa should boycott FIFA in protest, it's official, they are bought.
I will quit watching world cup until this present corrupt FIFA officials leave

Which Africa against LM? I be African and I'm not against Messi. Let the best side win but know that na second half match dey start

Tabletuner:
This is AFRICA against LM so let me see how one man can win a WHOLE continent.

LETS GO AFRICA

If Messi comot world cup don finish be that

You are threatening a British citizen with ownership of property in a shit hole? Sorry bro, he's made it in life already, I understand you typed this with poverty mentality

Pierocash:
Non of my business. Nah you no go see property inherit no be me..

Why do children always take side with their mothers against their fathers? It doesn't make sense.

Not true, in this time and age, Internet noise have proven to result in real life action. Obidient's Internet noise resulted in real life action in 2023 election,fact. VDM internet noise have resulted in real life actions as seen in his real life protests, Pastor Jerry Eze internet noise have seen real life actions, he built a multinational church just with the Internet , gehgeh Internet noise is really changing many guys mentality, unless you don't want to accept the reality of modern age .

meobizy:
Internet noise doesn’t result in real life action. See voting results and planned protests for example. Online noise starts and ends on the internet. The same guys “awakening” online are simping for females in their neighbourhood. They only come online to form Bruce Lee.

Remove Europe and China. Electing the right leaders in a free and fair election in African countries is bad for their business.

saintopus:
This is a very good one, the United Nations and other European nations and China should make a bold statement concerning the upcoming election.

In 2022, infantino said Merci still have more world cup to win, in 2026 world cup, we saw his reaction when Cape Verde equalized, almost sending Argentina out, after the match, in his interview, he said he suffered with Argentina then quickly realized himself and added but I'm neutral.
Are you seeing a trend in all of these things?

FYI, I'm a Merci fan but not a zombie kinda fan

Cousin9999:
And/or he was bribed.

He is racist, it's quite obvious

wman:
The ref has been poor. Paraguay should have more yellow cards by now. Really bad sportsmanship from them with all sorts of tricks.

I don't think they do doping test in football, those players look druggie to me. That's why they easily gets tired when the drug fades

Jamboscore:
This Ref is up to something. Clearly Paraguay players are violent

Paraguay parking the bus with hope of landing a penalty shoot out, let's see how it goes

It's now 23.7M

Benue is a poor state nah, how much did he make? If it's a place like Lagos or Rivers, he would be building his own University not working in one .
Wike was once SSG to Amaechi in Rivers

adamkkk:
Eyah... A whole ssg going back to lecture... Greed full him body
Is like having a Minister Of Defence, going back to the army as a Major after his tenure.

Which Fulani can read and write Arabic?
Those nomadic children get time?
FYI, ability to read and write Arabic is counted as literacy. Go and check the literacy rate in the North once again

Mrexcell:
Fulanis won't agree to this stats they will claim that as long as their children can read and write arabic they can be regarded as having reading ability.

The new name is codedly National Yoruba Service Corps (NYSC) with Mc Oluomo NURTW styled attire.
More details later

Dey play, the new name is National Yoruba service Corps(NYSC) with mc Oluomo Yoruba styled adire

flokii:
They should also change the name.. without khaki, it's no longer NYSC.

Custom don ever tell you they are not aware of new govt tariff policy? I'm shocked some people still never understand this country. Audio tariff reduction

jmoore:
Custom is different from government.

Only those that import cars can actually verify if this is being implemented or audio.

Na you want eliminate Belgium on Xtra time and penalty as how nah?

Okwug2026:
Belgium will be eliminated even if it takes extra time or penalties.

Expect more folks

Walai:
The goal count begins. Oyibo don see us finish

The goal count begins. Oyibo don see us finish

No be to first score goal, you go defend am?

Nothing special about them? Let's call a spade a spade, environment matters.
We are no match for this people because our environment alone reduces iq and critical thinking. We are at the basic level of want for food and very poor in thinking out solutions to issues, the very reason fake churches and shrines are thriving here.
No matter how you try to hide it, you can't come out from a shit hole environment with multidimensional poverty and expect to be at the same realm with someone from a sane climate. I'm pro black and pro African but let's tell ourselves the truth here.

ibedun:
Stop this STIPID overhyping of those people. There is absolutely nothing special about them just that we refuse to think critically is the only difference.

Imagine Osimhen, Lookman or Boniface as strikers in this match Super eagles for go far if to say dey qualified

I will rather join police than apply for eyeneck job

The olodo uprising be like AI to you? It's real here

Reference:
Why are we all lamenting.

Can we go back to a few months ago when marketers were battling for control....when the regulators were battling for control...when the NLC was battling for control.

Nigerians took sides with chicken one party and fought all the other three in succession. Visionless Nigerians, sentimental Nigerians, ignorant Nigerians.

And yours sincerely. MADE IT ABUNDANTLY CLEAR that:
Nigerians have removed all the safety devices that make for a safe and secure market driven industry and that whosoever won the battle to control and dominate WILL ENSLAVE EVERYONE ELSE.

Those posts are not far.
You can all go back and check your collective folly.