The Asset Management Corporation of Nigeria (AMCON) has withdrawn from the premises of Capital Oil and Gas Limited.

In a statement sent to Channels Television on Wednesday, the managing director of AMCON, Mr Mustafa Chike-Obi, stated that the corporation decided to vacate the premises of the oil firm owing to overriding public interest.

Mr Chike-Obi added that AMCON will allow Capital Oil resume operations to allow for more fuel supply ahead of the Christmas and New Year holidays.

Capital Oil and AMCON have been embroiled in a legal battle over unpaid debt to AMCON which the corporation says is worth N65 billion.

Recently, a high court in Abuja ordered AMCON to vacate the premises of Capital Oil, but the order was immediately appealed by the AMCON and it maintained its presence at the oil firm’s premises.