Skip to main content

AMCON Takes Over Afrijet over N10bn Debt | Says About 400 Debtors owe Over N4.5tn

The Asset Management Corporation of Nigeria (AMCON), on Friday, took over the assets ofAfrijet Airlines Ltd. owned byVitalis Ibe, over an unpaid debt of almost N10 billion.
This is contained in a statement issued by Jude Nwauzor, Head, Corporate Communications, AMCON, which was obtained by the News Agency of Nigeria (NAN), in Lagos.
The statement said the takeover was based on an interim injunction granted against the airline by Justice Chuka Obiozor of the Federal High Court, Lagos Division.
It said, “the obligor owes AMCON nearly N10 billion. AMCON purchased the Eligible Bank Assets (EBAs), sometime in 2011 from the defunct FinBank andBank PHB. The order also affects Ibe’s Continental Aviation Services Ltd., AMCON has since appointed Professor Gbolahan Elias (SAN), as Receiver/Manager. “
The statement also said the receiver/manager at about 11AM on Friday simultaneously took possession of the assets of Ibe including Afrijet Plaza, the corporate head office of the airlines.
According to the statement, the office is located on Sheraton-Opebi Link Road Ikeja, Opebi, Lagos.
It said he also took over the obligor’s asset at Plot 22, Jimoh Odutola St., off Eric Moore Road, Surulere, Lagos, as well as his office at the Airport.
“The court order mandated the receiver/manager to also take over on behalf of AMCON any other offices, branches, stores and factories of Ibe. And his companies located and/or traced for the purpose of satisfying the indebtedness,” the statement added.
It said the court restrained Ibe and his companies from operating or tampering with the funds in his bank accounts under whatever name or guise in any bank or financial institution in Nigeria.
The statement said the court directed the Inspector General of Police to assist Elias in the enforcement of its orders, adding that no incident was however recorded during the enforcement.
“AMCON, under the leadership of Ahmed Kuru, had recently increased the tempo of its recovery and was going after some of its 400 obligors whose total debts account for more than N4.5 trillion’’, the statement added.

Comments

Post a Comment

Popular posts from this blog

Ben Murray-Bruce Senator to lose Silverbird cinemas over N11bn debt

The report revealed that AMCON will take over SilverbCinemas by Thursday morning, June 23, 2016 over the N11b loan default. The Asset Management Corporation Of Nigeria, AMCON, has gotten an order by a Federal High Court in Lagos, Nigeria to take over Ben Murray Bruce owned Silverbird Cinemas. According to a tweet by SaharaReporters, the court has granted AMCON an order to take over companies owned by 'common sense' legislator for owing N11bn. It was further reported that Senator Murray-Bruce and his business family members have defaulted in the repayment of N11b loan to AMCON, hence, the order by the court to take over the companies, which is led by the th Silverbird Cinemas.
Post a Comment
Read more

Reality star banned from Vogue Magazine!

 For breaking the 'No Selfie' rule at the 2015 Met Gala in May, the 'KUWTK' star will no longer be appearing in the pages of the magazine Kim has been banned from appearing in Vogue Magazine by the Editor-in-Chief, Anna Wintour after breaking the rules at the 2015 Met Gala by taking selfies. It was reported that the head of Vogue instituted a 'No Selfie' rule at the biggest fashion event in New York last May, and Kim was one of the many celebrities to break it. According to the June 15 issue of OK Magazine , it’s now forbidden to even mention Kim in pages of Vogue and according to an insider, the embargo may also stems from the backlash Wintour received from putting Kim and Kanye West on the May 2014 cover . The source adds that Kim ignoring Anna's rule at the 2015 Met Gala was the last straw, and ''until further notice, Kim isn’t allowed in Vogue, by name or by picture.'' This wouldn’t be the first time that Vogue has d...
Post a Comment
Read more

Money Doublers Two men paraded in Kwara for attempting to dupe woman of N700,000

The suspects were apprehended after the victim raised an alarm concerning the fake promise. They were about to collect an additional sum of N500,000 from the woman. The Nigerian Security and Civil Defence Corps (NSCDC), have paraded two fraudsters in Kwara State, for attempting to dupe a businesswoman of the sum of N700,000. According to the  Daily Post , the suspects promised to double the money for the woman using a chemical. Pedro Awili , the state commandant of the NSCDC, said that the men first approached the woman telling her that they needed N100,000 to buy the chemical. ALSO READ: Three young Nigerians set to receive honours Following this, it was reported that they returned to collect a N500,000 balance for the job. It was at this point that the woman reported them to security operatives who arrested them. Awili said,  “This led to the arrest of the two men who gave fake names and states of origin to the woman,” the Commandant added, noting that the two ...
Post a Comment
Read more