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

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...

N.D.L.A and other prevented from arresting Senator-elect Buruji Kashamu by Court order

A Federal High Court in Lagos has restrained the National Drug Law Enforcement Agency (NDLEA) and other security agencies from arresting Senator-elect, Buruji Kashamu . The order was given on Wednesday, May 27, 2015, after a previous ruling instructing NDLEA officials to vacate Kashamu’s residence. Officials of the agency had invaded Kashamu’s house on Saturday, May 23, 2015, in a bid to arrest and extradite him to the US to face drug charges.

Aisha Buhari Calls For Probe Of State House Medical Centre

The wife of the President, Mrs Aisha Buhari, has called for a probe into how the budget for the State House Medical Centre is being utilised . The call comes barely one week after the management of the hospital said it would seek the commercialisation of the centre to boost its revenue. “I said I must be treated in Nigeria because there is a budget for an assigned clinic to take care of us. If the budget is N100 million, we need to know how the budget is spent. “Along the line, I insisted they call Aso Clinic to find out if the X-ray machine is working; they said it is not working. They didn’t know I am the one that was supposed to be in that hospital at that very time,” she added. Mrs Buhari, who addressed a gathering today (Monday) in Abuja, decried the “lack of facilities”, including syringes, at the hospital despite the huge budgetary allocation and ongoing construction there. “Few weeks ago I was sick as well, they advised me to take the first fligh...

Robbi's Blog

Search This Blog