Please how much is your budget for this project?

The last is yet to be heard in the case between Eleme petrochemicals co-operatives investment and credit society limited and the Economic financial crimes commission(EFCC) ,as the later (EFCC) through harassment and intimidation has continued to infringe on the right of the members of the co-operative by denying them access to their funds in first Bank Nigeria Ltd , an action that goes against a subsisting court order.

Hon. Justice N.E Maha had on 15th day of January Ordered that restriction placed on the account of Eleme petrochemicals co-operatives and investment and credit society be lifted.

An order First Bank Nigeria plc has refused to honour , citing treats from the EFCC. The bank is demanding that the co-operative signs an indemnity against claims by the Efcc before obliging to honour its obligations to the cooperative a demand that is contrary to the contract between a bank and its customer and against all extant rules of banking.

While the co-operative have written to the First bank plc to explain if there is any court Order served on them by the EFCC restricting it from honoring its obligations to the cooperative the bank has not produced any such order. but could only refer to harassment from EFCC.

EFCC had sort to pervert the course of justice from the beginning having joined issues with the co-operatives in a suit to enforce the fundamental rights of the shareholders of the cooperative but surreptitiously went behind to another court of co-ordinate jurisdiction to obtain an interim order freezing the account of the co-operatives but all this actions failed as the Court after discovering the attempted sharp practice of EFCC ,granted an order lifting the interim restriction on the said account.
Having failed in that regards, the Efcc have resorted to intimidating First Bank PLC to act against the court Order which allows the co-operatives to operate their account without any restriction.

The First Bank Nigeria PLC Continues to act in flagrant disregards to the court order. Meanwhile the Efcc have filed an appeal against the order lifting the restrictions placed on the cooperatives account, no order of stay of execution has been granted.

It is indeed a long walk to justice for staff of Indoroma Eleme Petrochemicals ltd as the battle for the ownership of their shares continues. in February 26,2009 the federal government through the National Council on Privatization had approved the sale of 10% of its equity shares in Indorama Eleme Petrochemicals ltd, Port Harcourt ,Rivers State to the host community and interested staff of Indorama Eleme Petrochemicals ltd.

The 10% equity shares was shared as 7.5% was allotted to the host community while the remaining 2.5% was allotted to the Staff of Indoroma Eleme Petrochemicals.

Interested Staff came together under Eleme petrochemical co-operatives in compliance to the federal government directive that a special purpose vehicle be formed where all members will belong to enable them buy the shares.

Problem began in 2013 when 10 staffs who initially subscribed to the purchase of the 2.5 equity shares had their jobs terminated from the employment of Indorama Eleme Petrochemicals.

Indoroma Petrochemicals since then began a legal battle as to whether the laid off staff can continue to enjoy the dividends since they were not longer staff in the company and in so doing seeks to replace laid off staff with new recruited staff.

When the shareholding became an issue the laid of staff approached the River State Ministry of Commerce and Industry to arbitrate between it and the cooperative, the Ministry gave an Arbitral Award in favor of the laid off staff and consequently the exited staffs of the co-operative ,approached the federal high court to enforce the arbitral award and as required by law it was granted and the award became a judgment of the Federal High Court.

The newly recruited staff been instigated by their employers Indoroma Eleme Petrochemicals Company limited approached The National Industrial court stating that the arbitral award was illegally procured ,when the right thing to do was to appeal the Federal High Court judgement, the industrial court in striking the case out stated that it can not sit on an appeal over a matter that has been decided by a court of co-ordinate jurisdiction. The newly recruited staff have filed an Appeal over the decision of the Industrial court.

It is to be noted that the Efcc started to investigate the ownership of the shares of the cooperative after the cases at the Federal high court and the Industrial Court had been decided.

The cases pending in various Courts over the ownership of the shares of Indorama was triggered by the BPE which was a party sued in case at the Industrial court, when it petitioned the EFCC over the matter at the instigation of the newly recruited staff of the Indorama and Indorama itself.

The efcc has despite the judgment of the Federal High Court which confirmed the shareholding of the exited staff has continued to intimidate the exited staff and the cooperative this also despite the orders of justice Taiwo .O .Taiwo of the Federal high court in Suit FHC/ABJ/SC/1222/2020 granting an Order stopping the EFCC from arresting, inviting ,detaining and prosecuting or inquiring into the acquisition of shares of Indoroma Petrochemicals ltd.

https://premiumnewsnigeria.com/2021/05/12/eleme-petrochemicals-co-operatives-efcc-first-bank-nigeria-plc-disregards-court-order/

There's flooding problem in Rivers State e.g. in Rukpokwu, Eneka etc and when residents of these areas approach the government for assistance, Wike never responds to their plea for help. People that live in these flood prone areas have to evacuate from their houses during the flooding period. Property are destroyed as well during the flood.The flooding in Rukpokwu has been assessed by engineers and will cost less than 30 million naira to prevent from happening.
Letters have been written to the government and Wike is aware of this but has refused to help Rivers people but prefers to help people in Sokoto. I wonder what kind of governor is this? It's a pathetic situation. Charity should begin at home.

Why not invest in farmcrowdy then? Their return of at least 20% per annum is better than the 12% per annum you invested in Adeeva?

Do you know any agric tech company similar to FarmCrowdy where the management knows what it's doing?[/quote]

Why not invest in farmcrowdy then? Their return of at least 20% per annum is better than the 12% per annum you invested in Adeeva?


Do you know where their physical office and their farms are located?

Do they allow potential investors do an inspection visit of their facilities?[/quote]

What do you think about the agric tech businesses- specifically farmcrowdy for an investment. Their return is at least 20% per annum and they seem to be reliable thus far.

emmanuelewumi:
It is over 2 weeks that this question was asked , people have given him different options although most of the advise and business opportunities suggested and marketed here will end in tears and loss of fund. At least 95% won't create wealth.

The person who asked the question wants security of his fund and a high return, this is asking for too much or something that will be almost impossible.

Since he could not explain how he got the fund so that he can continue doing what produced the fund in the first place. I want to assume the fund was inherited or it is a severance package from his place of work

I always advise people who get sudden windfall without an experience on how to manage and multiply their wealth to be more concerned about the security of their funds before thinking of returns on their fund

Based on this, I will advise the OP to get in touch with Stanbic IBTC Stockbrokers and buy FG bonds in the secondary market. FG bonds is different from FG savings bond.

FG bond will give returns of between 11% to 12% per annum, which will be paid twice.


This will give you cash flow while thinking and learning how to manage and multiply your funds in order to create more sustainable wealth.

I was in your shoes 6 years ago. I had a good paying job in the oil and gas industry. I felt reluctant leaving my job for Canada. I took a vacation and visited for one month. My plan was to get a job in the one month period I was there and then resign my job in Nigeria. I did not get a job in that one month period.

I had to come back to my job in Nigeria. Stayed on my job for another 2 years and decided to take the plunge when my wife was 6 months pregnant. I decided to move for the sake of my then unborn kids. I now have two kids and expecting my third in two months time.

We had a rough start for 2 years because we knew no one in the city we moved to (Calgary).
After two years I landed a job in the oil and gas industry in Canada. We are now doing well in Canada. I now have no regrets moving to Canada; I initially did for the first 2 years. We are so happy we took the plunge. No worries about security and great infrastructure. Canada is a great place to raise kids.

My advice is that you should resign your job and move to Canada. It might be tough for the first few years but you will eventually not regret your decision. Canadian govt gives you all the support you need during the rough patch. You are usually paid employment insurance if you are laid off your job, you are paid some money for your kids if your income is below a certain threshold. It should be a no brainer for you to move. Stay blessed.

PM me let's talk

You could become a permanent resident after your studies. Make up your mind to do some survival jobs initially. With time you will land your dream job. I'm a living testimony. Doesn't mean it works out for everybody though but give it a shot.

Life in Canada is great compared to Nigeria. Good security; education for your future kids; great infrastructures and a far better standard of living.

I was in your shoes three years ago; I worked for a downstream oil and gas company. I was really comfortable by Nigerian standard. I had the opportunity of going to Canada. I resigned from my job and left.

For two years I did survival jobs. But last year I landed a senior position in one of Canada's choicest oil and Gas company. Today I'm so happy for the decision I made to leave NIGERIA even though the people around me were against it at the time