Categories: Local

Alleged N9.8bn Debt: AMCON Takes Over Large Expanse Of Land At Lekki



In continuation of its assets recovery drive, the Asset Management Corporation of Nigeria (AMCON) has moved against debtors owing the Federal Government N9.8billion by seizing their properties and lands at Lekki, Lagos.

The affected properties include large numbers of landed properties occupied by squatters and the mechanic village at Goshen Beach Estate, Lekki Phase 1, and its environs.

Accompanied by a large group of police officers, AMCON officials, some of its lawyers, and the court bailiff carried out the enforcement order of the court which also saw AMCON take possession of another 40 hectares of land at Lekki-Epe Expressway, Sangotedo, opposite Peace Garden City Estate, Ajah

According to an exparte order obtained at the Federal High Court Lagos, the debtors are Knight Rook Ltd (under AMCON Receivership), Fibigboye Estates Ltd, and Grant Properties Ltd.

AMCON’s representative, Adedeji Aniyikaye-Quadri, said the court order attached the respondents’ properties for the satisfaction of a N9.8bn debt which judgment AMCON obtained since 2017.

AMCON’s representative insists that the corporation had to execute the judgment following the respondents’ persistent failure to settle the debt.

Ignatius Igwe

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Ignatius Igwe
Tags: AMCON Debts FG

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