The Guardian
Email YouTube Facebook Instagram Twitter WhatsApp

AMCON seizes Lekki properties over N9.8b debt


The Asset Management Corporation of Nigeria (AMCON) has taken over debtor’s properties and lands in Lekki, Lagos over N9.8billion owed to the federal government.

The affected properties included large expanse of lands occupied by squatters and mechanic village at Goshen Beach Estate and environs. 

The debtors, according to a suit marked: FHC/L/CS/537/2020, are Knight Rook Ltd (under AMCON Receivership), Fibigboye Estates Ltd and Grant Properties Ltd.


AMCON’s representative, Adedeji Aniyikaye-Quadri, said the move followed a June 18, 2020 ex parte order granted in AMCON’s favour by Justice Saliu Saidu of the federal high court, Lagos.

The order attached the respondents’ properties for the satisfaction of the N9, 866,510,191 debts.

According to AMCON, the action was to enforce a judgment debt it won at the Federal High Court on October 3, 2017, before Justice Ibrahim Buba. 

AMCON had taken over 40 hectares of land at Lekki-Epe Expressway, Sangotedo, Ajah, opposite Peace Garden City Estate, Ajah, pursuant to the same order. 

Aniyikaye-Quadri said AMCON executed the judgment following the respondents’ failure to settle the debt. 

“We are not aware of any appeal challenging the judgment. The order takes immediate effect, it is permanent and it affects everything fixed on the land whether movable or immovable properties of the defendants,” he said.


Receive News Alerts on Whatsapp: +2348136370421

No comments yet