Metro & Crime

Court orders AMCON’s seizure of firm’s assets over indebtedness

Justice Taiwo Taiwo of a Federal High Court in Abuja has granted an ex-parte motion authorising the Asset Management Corporation of Nigeria (AMCON) to seize two Abuja property of a firm, Doggi Continental Nigeria Ltd, owned by one, Abdullahi Umaru Baba.

The judge ruled that the order subsists pending the institution and disposal of proceedings for debt recovery against the duo pursuant to Section 49 of AMCON Act 2010.

The two properties were located at Plot No. 1274 Katampe Hills, Katampe District, Abuja, F.C.T., and Plot No. 3810 Cadastral Zone A04 Asokoro, Abuja with File No. FCT/ABU/ZA/10124.

The judge made the interim order after listening to the submissions of AMCON’s lawyer, C. Ezeokwuora, and reading of the affidavit in support of the motion ex-parte deposed to by one, Nelly Ebegboni.

“An order of interim injunction is hereby made attaching, taking possession and custody of the property being Plot No. 1274 Katampe Hills, Katampe District, Abuja, F.C.T., and Plot No. 3810 Cadastral Zone A04 Asokoro with file Number FCT/ABU/ZA/10124, all belonging to the respondents,” Justice Taiwo held.

He further restrained the respondents from interfering with the AMCON’s possession of the two properties.

In addition, the judge granted an interim Mareva Injunction attaching all sums standing to the credit of the respondents in any bank in Nigeria up to the amount of the outstanding indebtedness of the respondents to the applicant.

“The property shall not be sold by the applicant until the disposal of ceedings for recovery of the debt. The interest of any third party occupying the property must be respected by the applicant.

“Nobody with third party interest shall be ejected as a result of the orders now granted. Any person with third party interest shall be notified of the orders of this court which shall be pasted in a conspicuous part of the property,” the judge also held.

In addition, the court also held, among others, that “any rent due and yet unpaid and any outstanding rent including rents due from the time of these orders shall be paid into an interest yielding account to be opened for that purpose by the applicant, while none of the respondents shall be ejected from the property”.

The judge while adjourning further hearing in the matter to September 22 also directed that all the banks involved upon being served with the orders must file an affidavit showing the balance of the respondents jointly and severally in their respective banks.




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