NIGERIA’S first private radio company has launched a court challenge to a move by creditor banks to liquidate it because of unpaid loans. Ray Power radio and AIT television, owned by Lagos-based DAAR Communications company, have been off air for almost two weeks after their offices were sealed by liquidators acting for the consortium of banks. An advertisement by the liquidator on the weekend put on sale DAAR’s property including land, buildings, plant and machinery, internet systems, studio and control rooms and vehicles. The company owes the banks about 1 billion naira ($10-million).