The Asset Management Corporation of Nigeria (AMCON) has taken over debtors’ properties and lands in Lekki axis of Lagos following their inability to pay an aggregate N9.8billion owed the Federal government.
The affected properties include large expanse of lands occupied by squatters and mechanic village at Goshen Beach Estate and environs.
It was learned that the squatters are lamenting their fate, having established their trades and businesses on the properties without knowledge of the status. Now they are displaced, with nowhere to go.
The debtors, according to a suit marked: FHC/L/CS/537/2020, are Knight Rook Ltd (under AMCON Receivership), Fibigboye Estates Ltd and Grant Properties Ltd.
AMCON’s representative, Adedeji Aniyikaye-Quadri, said the move followed a June 18, 2020 ex-parte order granted in AMCON’s favour by Justice Saliu Saidu of the Federal High Court, Lagos.
The order attached the respondents’ properties for the satisfaction of the N9, 866,510,191 debts.
According to AMCON, the action was to enforce a judgment debt it won at the Federal High Court on October 3, 2017, before Justice Ibrahim Buba.
AMCON had taken over 40 hectares of 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.
“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 immovable properties of the defendants,” he said.