₦airaland Forum

Interesting read. A lot has happened and still happening in the Federal Republic of Nigeria. Imagine this Company/Factory is still functional, it would have been a source of income for thousands and also a way for the Government to generate Revenue...

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.

Lol 😂 😂

givedemwotowoto:
He has plan B in case Tilumbu destroys Nigeria FYI

The Oluwo of Iwo happily displaying his Canadian Passport and declaring Canada as ‘best country in the world’.

This is supposed to be a king and traditional ruler that should be at the forefront of projecting pride & patriotism to Nigeria and his people.
pic.twitter.com/KCu86OkVDy

— OurFaveOnlineDoc 🇬🇧 🇳🇬 (@OurFavOnlineDoc) August 29, 2025

press9jatv:
From a reliable source, I heard no life was lost thus far. The damages were much oooo.

Thanks to God for preservation of lives 🙌🏼🙌🏼

Happy New Year To My Nairaland Family 🎉👏🎄

Dey play🤣🤣

Story story, government is not Agidigbo ooo.

Too much corruption in every of our government parastatal...

This is bad😔😞

Drugs is bad. Don't do drugs!

Libya, Libya

Overdo

We are our own enemies...

Worst administration ever in the history of Nigeria 🤣🤣

Wahala full ground...🤣🤣

Rubbish

Chelsea is gone

Pretty ladies dey thief too

Great cultural value

.

.

Unnecessary meetings, avoidable wastage of the nation's funds...

MTN data needed pls, na free Opera i dey use since. 07043289054

nony43:
Edo people like your incoming said he will bring insecurity, we will put you in our prayers that this will not come to pass.

Lol🤣🤣
MTN data needed pls. 07043289054

Awon apa oninakuna.
MTN data needed pls. 07043289054

This isn't bad

MTN data needed pls. 07043289054

Hamachi:
A Conglomerate of thugs and criminals.


If you are interested in getting a remote job join JobZoneNG on telegram

Thanks for the update!
MTN data needed pls. 07043289054

Lalami3232:
You see this masturbation of a thing, na one of the world's strongest and most dogged addiction. Between masturbation and betting, I no know which one dey stronger because I don do both. White betting go give you the illusion say you go become millionaire one day if you dey forecast right, masturbation go give you the impression say you no dey fornicate, r*p*e or sleep around. Both of dem na from the bottomless pit of hell. If you decide to quit at a point and you mistakenly go relapse, you go come back worse than previously. But one good thing be say, both can be overcome if you get a very strong will. As for masturbation, no go porn sites and try to dey with people or dey busy. But how can a tech guy like some of us wey always dey alone with laptop wan take overcome? Laslas sha, we all go dey alright. Forget whatever the media paints to you, masturbation no good, bros. You feel so so so so weak after ejaculation, unlike when you get normal sex. Laslas, we all go dey alright
What do I even know sef aside enlightening my fellow men nationwide with the good news

Fact!

Fact!

yusluvad:
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S.A.

Damn bad...

yusluvad:
GOTV complete package for sale.

*Antenna
*Cable
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Location: Ota, Ogun state.

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SA

yusluvad:
GOTV complete package for sale.

*Antenna
*Cable
*Decoder
*Remote
*Power Adapter

All available. #20k slightly negotiable.

Location: Ota, Ogun state.

WhatsApp : +234 7043 289 054

GM still available...