AMCON takeover 72 properties in Lagos over N8.4bn debts

The Asset Management Corporation of Nigeria (AMCON) has clampdown on the properties of 12 debtors owe the Federal Government a whopping sum of N8.4billion in Lagos.

The operation took place simultaneously in Lekki, Apapa, Ikeja, Somolu and Kosofe areas of Lagos State metropolis.

The affected properties are Elegant Court on Mobil Road Lekki. It houses 12 three-storey blocks of 72 luxury apartments, a tennis court and other facilities on 1.802 hectares.

According to AMCON, it is also mandated to recover land measuring 1668.740 square metres along Kirikiri Road, Olodi Apapa, land measuring 4939.122 square metres on 98, Kudirat Abiola Way, Oregun, Ikeja and land at No. 21, Adaranijo Street, Bariga, Somolu.

Others are: a property at No. 1 Cortex Drive, off Kosofe Street, Ketu; a property at 2, Hilton Close, Off Allen Avenue, Ikeja and another at 24, Medoyin Street, Kosofe, Ketu (Cortex House).

AMCON enforcement units and sheriffs of the Federal High Court protected by policemen sealed up the properties in the execution of an April 11, 2019 order of Justice Rilwan Aikawa.

AMCON receiver manager’s counsel, Gbenga Dosunmu, said the debtors had refused to liquidate their debts despite all efforts and consultations to get them to do so.