AMCON seizes assets over N9.8 billion debt

For allegedly failing to pay a debt of N9.8 billion, the Asset Management Corporation of Nigeria (AMCON) yesterday moved against debtors by seizing their multi-billion naira properties on the Lagos-Ibadan expressway, Isheri, Ogun State.

The assets included buildings and a filling station sitting on a 30-hectare land near OPIC Estates.

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 the corporation’s favour by Justice Saliu Saidu of the Federal High Court, Lagos.

He added that the organisation executed the judgment following the respondents’ failure to defray the liability after losing at the Court of Appeal.