AMCON Denies Allegation of Criminal Conduct

The Asset Management Corporation of Nigeria (AMCON) has denied allegations of criminal conduct levelled against it by the Association of Victory Park Estate Land Owners.

Specifically, it described the allegation that its Receiver/Manager was acting in defiance of the Order of Injunction made by the Lagos State High Court on October 24, 2019 and the Judgment delivered by the Court of Appeal on December 15, 2020, as falsehood.

AMCON in a statement stated that it was aware of a two minutes and 45 seconds video currently in circulation where criminal allegations were made against the Corporation and the Receiver/Manager in respect of Block B Plot 2, Victory Park Estate, Igbokushu Village, Lekki, Lagos.

It advised debtors to pay their debt for the sake of the Nigerian Economy.

It explained that the takeover of the property known as Block B Plot 2, Victory Park Estate, Igbokushu Village, Lekki, Lagos was carried out on the basis of the Judgment delivered by the Federal High Court on October 3, 2017 in Suit no: FHC/L/CS/744/2017 – Asset Management Corporation of Nigeria & 5 Ors which was affirmed by the Court of Appeal in Appeal no: CA/L/698/2018 – Rev Olajide Awosedo v Asset Management Corporation of Nigeria & 5 Ors on 3rd June 2019.

It noted that the judgement of October 3, 2017, granted the corporation powers to take over all the movable and immovable properties of Knight Rook Limited and other judgment debtors and apply the proceeds of their disposal in the settlement of the judgment debt.

“Although Mr Mumini-Shittu filed a claim at the Lagos State High Court, no Order of Injunction was made against the Corporation and its Receiver/Manager in respect of Block B Plot 2 as wrongly alleged by in the Publication as the Order of Injunction made 24th October 2019, which is the subject of a pending appeal at the Supreme Court, was strictly in respect of Block B Plot 1, Victory Park Estate, Lekki, Lagos.

“Consequently, the purported recovery, which was curiously done in the absence of any Sheriff of the Lagos State High Court, was illegal and the allegations of criminality made against the Corporation and its Receiver/Manager are false, baseless, and defamatory.

“On the invitation to Press Conference by the Association of Victory Park Estate Land Owners to the public to allege the disobedience of court orders and violation of the doctrine of lis pendis by the Corporation and the Receiver Manager slated for April 20, 2021, the Corporation states that in spite of the provisions of Section 39 (c) of the AMCON Act, as amended 2019.

“The Corporation and Receiver Manager are law abiding and saddled with the mandate to recover outstanding debt of Knight Rook Limited. The mandate of the Corporation must be carried out in line with the powers vested in the Corporation by the provisions of the AMCON Act, as amended.”

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