The Asset Management Corporation of Nigeria (AMCON) has taken over all the assets of Wokson International Ltd in Asaba and Warri, Delta, due to N5 billion debt.
Mr Jude Nwauzor, AMCON Head, Corporate Communications, said this in a state issued to the News Agency of Nigeria (NAN) in Lagos on Friday.
It said that the takeover followed an injunction against Wokson International by Justice Babs Kuewumi of the Federal High Court, Lagos Division.
The statement said that the order mandated AMCON to take over all the assets of Wokson International and its promoter, Dr William Oki, over a staggering indebtedness of over N5 billion.
It said that the court granted an injunction on the application of AMCON.
The statement added that AMCON moved in and took over all the assets of the company and that of its principal (Oki) as ordered by the court…
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