AMCON Takes Over 11 Multi-billion Properties In UK, Lekki, Ijebu-Ode

The Asset Management Corporation of Nigeria (AMCON) on Sunday on an order of a Federal High Court seized multi-billion naira properties in Lagos, Ogun and United Kingdom from three property firms and eight others following an alleged N4,680,343,681.47 bank debt.

The assets, including land, houses, cars and generating plants, were seized in execution of an order granted by Justice Abdulaziz Anka authorising receiver/ manager Lanre Olaoluwa to take possession pending the determination of the suit.

The properties include

– 14 hectares of land and buildings at Victory Park Estate, Igbokushu, Lekki;

– House J1 Olajide Awosedo Avenue, Goshen Beach Estate, Lekki and l

– and at River View Estate, Isheri, Ogun State.

According to AMCON, the defendants’ assets in the UK were also affected by the interim order.

AMCON had acquired the N4.68b non-performing loan that Havilah Villas Limited secured in 2006 from Intercontinental Bank Plc (now Access Bank), by a Loan Purchase and Limited Servicing Agreement.

The loan was guaranteed by Grant Properties Limited.

AMCON also advanced a further loan of N300,000,000 to Havilah Villas Limited.

 



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