N9.8bn Debt: AMCON Seizes More Properties in Lekki


By Davidson Iriekpen

Officials of the Asset Management Corporation of Nigeria (AMCON) yesterday moved against debtors owing the federal government N9.8billion by seizing their properties and lands at Lekki, Lagos.

The affected properties include large expanse of lands occupied by squatters and mechanic village at Goshen Beach Estate and its environs.

The debtors, according to a suit marked: FHC/L/CS/537/2020, 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.

The order attached the respondents’ properties for the satisfaction of the N9,866,510,191.00 (billion) debt.

It is to enforce a judgment debt AMCON won at the Federal High Court on October 3, 2017, before Justice I.N. Buba.

AMCON had on Wednesday taken over 40 hectares land at Lekki-Epe Expressway, Sangotedo, Ajah, opposite Peace Garden City Estate, Ajah, pursuant to the same order. Aniyikaye-Quadri said AMCON executed the judgment following the respondents’ failure to settle the debt.

He added: “We are not aware of any appeal challenging the judgment.

“The order takes immediate effect, it is permanent and it affects everything fixed on the land whether movable or immoveable, properties of the defendants.”