New Telegraph

N400m debt: AMCON takes over Doggi Group assets

Citing the order of Justice Anwuli Chikere of the Federal High Court, Abuja, the Asset Management Corporation of Nigeria (AMCON) said it had taken over assets belonging to Alhaji Umaru Baba Abdullahi, the Chief Promoter of Doggi Group Limited, over an indebtedness of more than N440million.
In a press release made available to New Telegraph, AMCON said it took possession of the two properties through its Receiver, Mrs. Juliet Benson of Benson Reeds Legal Practitioners, “which include properties situate at Plot 3810, Cadastral Zone A04, Asokoro District, Federal Capital Territory (FCT), Abuja and Plot 1274, Cadastral Zone B07, Katampe Hills, Katampe District, Abuja.”
The corporation noted that the case of Doggi Group Limited and its promoter had been a protracted issue because the loan was purchased during the first phase of Eligible Bank Assets (EBA) purchase from Union Bank Plc since 2011.
“Since then, AMCON has offered the obligor a good measure of olive branches and explored all avenues to resolve the matter amicably, but the obligor, and his company, Doggi Group Limited, have remained recalcitrant and unwilling to repay the huge debt to the Corporation,” it said.

Read Previous

Domestic violence: Enugu CSOs want full implementation of VAPP law

Read Next

Enugu clarifies land clearing around IMT, NTA office

Leave a Reply

Your email address will not be published. Required fields are marked *