AMCON takes possession of Centage Estate, other assets over N3.5bn debt

Following the order of Honourable Justice C.J. Aneke of the Federal High Court Lagos Division, the Asset Management Corporation of Nigeria (AMCON) has taken over 13 prime assets linked to Centage Savings and Loans Limited and its Chief Promoter, Mr Johnson Gabriel Ndukwe, over-indebtedness of over N3.5billion.

In compliance with the enforcement order, which Justice Aneke gave on October 8, 2020, AMCON commenced a detailed and strategic enforcement plan amidst the rampaging coronavirus pandemic as the assets are scattered around different locations in Lagos and the Federal Capital Territory (FCT), Abuja.

Having met with all the requirements needed for a lawful enforcement execution AMCON on Friday, March 19, 2021, simultaneously took effectively possession of the properties in Lagos and Abuja through its Debt Recovery Agent– Elite Law amidst mild resistance from some resident associations members who apparently may not have anticipated any encumbrances having supposedly bought from Centage Savings and Loans Limited who unknown to them is heavily indebted to AMCON.

The properties in question as listed by the court order, which AMCON effectively took over include properties situate at 18 Ligali Ayorinde Street, Victoria Island, Lagos; Plot 1, Unit 2, Imam Abibu Street, Adetoro Victoria Island, Lagos; Centage Trade Centre, Awolowo Way, Ikeja, Lagos; Block B, Plot 19 Maiyegun Village, Lekki, Eti Osa LGA, Lagos; Block C, Plot 15, 17, 19 & 20 Maiyegun Village, Lekki, Eti Osa LGA, Lagos; Ivory Garden Estate, Isheri North, Magoro, Lagos; 20 Plots of Land at Ibu Ominla, Ogombo Village, Ajah, Lekki; No 4 Otunba Tunde Seriki Close and Igo Efon, Lekki, Lagos.

The rest include property situated at Ologolo Road, Maiyegun Village, Ajah, Lagos; No 18 Adeyemo Alakija Street, Victoria Island, Lagos; House J25A & House J25B, Road 3 Close, Victoria Garden City, Lekki, Lagos; Centage Estate, Apo, Abuja; and Plot MF 472, Sabon Lugbe, Abuja.