Court Orders Freezing Of Firm’s Accounts Over N4.2bn Debt To AMCON


Justice Chuka Obiozor of the Federal High Court in Lagos yesterday placed a No Debit Order on the bank accounts of a limited liability company, Al Kahf Limited, over alleged indebtedness of N4.282, 918, 018,43 billion to the Asset Management Corporation of Nigeria (AMCON).

Justice Obiozor also ordered the company, its servants, agents, officers, directors, shareholders, employees, creditors, assigns, tenants, privies and any other persons to deliver to AMCON the company’s property situated at Plot 1145B, Victoria Island layout, now known as 1, Mike Inegbese close, Amodu Ojikutu, Victoria Island, Lagos, with Certificate of Occupancy (CofO) dated July 16, 1987 and registered as 43/43/1987c, at the Lands Registry of Lagos State.

The judge further directed the company’s bankers to file affidavits of disclosure before the court, disclosing funds standing in the company’s accounts.

The judge gave the order while delivering a bench ruling on an ex-parte application filed and argued…

Source: Leadership Newspaper