Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.


Nu Metro closing up shop in Nigeria?

28 August 2013, 12:31Henry Ifeanyi

Lagos - Nu Metro, one of the biggest names in the entertainment industry, is ceasing operations in Nigeria over ballooning debts, it has been established.

Owners of the Nigeria subsidiary of the global brand have summoned a meeting of creditors to discuss the voluntary winding up of the company.

The meeting is scheduled for September 20 in Lagos.

According to documents obtained by this publication, part of the agenda of the meeting is to consider the statement of the position of the company's affairs together with a list of creditors of the company and their claims.

The meeting is scheduled to discuss the appointment of Michael Oluwole Oladotun of Balogun Badejo and Co. as liquidator for the purpose of winding up the affairs of the company and distributing its assets.

Nu Metro International opened its first Mediastore in Nigeria at the Silverbird Galleria, Victoria Island, Lagos in 2005.

The company sold its holdings to locals in three years later.

Nu Metro businesses in Nigeria 's major cities currently comprise of cinema complexes, multimedia stores for books, magazines, digital video discs and music.

- CAJ News


Read News24’s Comments Policy

Comment on this story
Comments have been closed for this article.

Read more from our Users

Nigeria @ 56: Words to my green f...

A leader’s job is not to dictate, but rather to be respected, admired and be a trustee, of the land we love, with so much potential, a land which should be freer than free. Its still a long way to fufilling our destiny! Read more...

Submitted by
Isaac Asabor263
Recession: An opportunity for Nig...

The recession should be seen as an opportunity for the country’s promotion as long as we all collectively conduct ourselves in a patriotic manner, writes Isaac Asabor.  Read more...

Submitted by
Black and White

We want to imitate the whites in everything because we are ignorant of our inherent originality and content. We spend all our Naira to acquire his inventions because we so oblivious of our natural endowments that we allow him have it for free. Read more...

Submitted by
Nate Nat
Adamawa State University Mubi: A ...

ADSU integrity forum has accused the Sunday Joshua Wugira, a lawyer, of adopting unorthodox tactics by abusing his privilege by attacking the integrity of ADSU Vice Chancellor Dr. Moses Zira Zaruwa, writes a News24 reader. Read more...

Submitted by
Abdulsalam Jubril
My Country Nigeria (Part One)

Poetry by Abdulsalam Jubril.

Submitted by
Abdulsalam Jubril
Recession, dearth in leadership a...

Every leader has the opportunity to become great and making himself immortal in the lives and hearts of people for generations to come. Will Mr. President seize this opportunity?, questions Abdulsalam Jubril. Read more...