AMCON seizes properties at Isheri over N9.8b debt

By Robert Egbe

Asset Management Corporation of Nigeria (AMCON) on Thursday seized multi-billion naira properties belonging to some people said to be indebted to the Federal Government to the tune of N9.8 billion.

The naira properties are on the Lagos-Ibadan Expressway, Isheri, Ogun State.

They include several buildings and Fagbems Petrol Station sitting on 30 hectares of prime land near OPIC Estates.

The debtors, according to a suit, are: Knight Rook Limited (under AMCON receivership), Fibigboye Estates Limited and Grant Properties Limited.

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.

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The order, which copy The Nation obtained, attached the respondents’ properties for the satisfaction of the N9,866,510,191.00 debt.

One of the properties is delineated on Survey Plan Number LC10320G of July 30, 2004.

Aniyikaye-Quadri said AMCON executed the judgment following the respondents’ failure to settle the debt after losing at the Court of Appeal.

“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.

“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.”