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Court orders indebted firms to pay PSP


By Edith Igbokwe


A Customary Court sitting in Oshodi-Isolo Local Government has ordered Bowman microfinance bank and Olasco Water factory, both in Mafoluku area of Oshodi, to maintain their contract  terms with Excellense link, a Private Sector Participant (PSP) operator in charge of their waste disposal.

Excellence had sued the firms for owning  N139,000 and N 81,000 respectively.

Both  agreed owing the firm but pleaded for more favourable rates to reconcile their debts.

The Managing Director of Bowman microfinace bank, Mrs. Moni Aigbokhaode, told the court that she had earlier paid N40,000 out of the N139,000 debt but it did not reflect on the Mill’s served by the waste form.

She also claimed to have paid additional N60,000 previous week on two different occasions in instalments of N40, 000 and N20,000,  providing receipts as her evidence.

She provided evidence of payment of up to N100, 000 out of the debt, remaining N39, 000 outstanding debt which was agreed by both parties to be paid by the end of November 2021.

On her part, the daughter of the CEO of Olasco Water Factory, Aminat Aderoju, who represented the company stated that partial business operations led to the accumulated debt owed by the company.

Citing the economic situation that has befallen the water business, Aderoju pleaded for reduction in the monthly service charge by the PSP henceforth, for the company to be able to pay promptly.

She presented N2,000 receipt being part payment made out of the N 81,000  accumulated debt.

She said the company had appealed to the PSP operator to reduce its monthly bill to N2,000 from N8,000 but the PSP insisted on N4,000.

She pleaded with the court that the factory can only afford N2,000 monthly since it is now operating partially.

However, the Excellense Waste law enforcement official in court, Mr, Kayode Akinlade said the amendment of service charge rate could not be made in court.

Having listened to both parties, the presiding president of the court, Mrs. Funmilayo  Ogunsanwo ordered Excellence PSP to permit Olasco Water to pay N4,000 every two months as service charge rate which is equivalent to N2,000 monthly.

She justified her actions that with convenience, the downsized factory that has been on partial operation will not have any excuse to default.

The court ordered  both debtors to obey the reconciliation terms and ensure prompt payment of waste bills.

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