By Adedapo Adesanya
The Asset Management Corporation of Nigeria (AMCON) has seized properties worth billions of Naira owned by debtors to the federal Government amounting to N9.8 billion.
The corporation made this disclosure on Thursday, stating the properties included several buildings and Fagbems Petrol Station sitting on 30 hectares of prime 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.
Speaking on this, the AMCON representative, Mr Adedeji Aniyikaye-Quadri, said the move followed a June 18, 2020 ex parte order granted in the corporation’s favour by Justice Saliu Saidu.
The order attached the respondents’ properties for the satisfaction of the N9,866,510,191.00 debt, adding that the property is delineated on Survey Plan No. LC10320G of July 30, 2004.
Mr Aniyikaye-Quadri said AMCON executed the judgment following the respondents’ failure to settle the debt after losing initially at the Court of Appeal.
He added that, “The land is about 30 hectares and we are executing the order now. The order is permanent and it includes everything fixed on the land – buildings, a filling station – everything fixed on the land.”
“The judgment debtors appealed the Federal High Court judgment at the Court of Appeal, but the appeal was in AMCON’s favour and sequel to that judgment is why this order was needed, because the defendants, even after the Appeal Court verdict, refused to offset the debt.
“There is no pending appeal at the Supreme Court.” he declared.
This is coming after Business Post reported last week that AMCON took possession of two properties belonging to Umaru Baba Abdullahi, the Chief Promoter of Doggi Group Limited, over a debt of N440 million.
This followed an order granted by Justice A.I. Chikere of the Federal High Court, Abuja Division, on June 5, 2020, to AMCON to take over Mr Abdullahi’s assets.
