The Asset Management Corporation of Nigeria (AMCON) on Friday continued its debt recovery drive by taking over the assets of some big debtors.
Pursuant to the order of Justice Chuka Obiozor of the Federal High Court, Lagos Division, AMCON took over the assets of Afrijet Airlines Limited owned by Vitalis Ibe, over a debt of almost N10billion.
AMCON had purchased the bank assets sometime in 2011 from the defunct FinBank and Bank PHB.
The court order also affected Mr. Ibe’s Continental Aviation Services Limited for which Gbolahan Elias, a Senior Advocate of Nigeria, SAN, has since been appointed Receiver/Manager.
On Friday, the Receiver/Manager took possession of Afrijet Plaza, the corporate head office of the airlines located on Sheraton-Opebi Link Road Ikeja, Opebi, Lagos, along with another asset located at Plot 22, Jimoh Odutola Street, off Eric Moore Road, Surulere, Lagos, as well as Mr. Ibe’s office at the Airport.
The court had ordered the takeover of other offices, branches, stores, warehouses, factories belonging to Mr. Ibe, wherever they may be to help recover the debt.
While granting the order on the application by counsel to AMCON, Justice Obiozor restrained Mr. Ibe and his companies, directors, agents, servants and/or privies from operating, withdrawing from or otherwise tampering with the funds belonging to and/or deposited in any of his bank accounts in Nigeria.
Negotiations on the debt have gone on with AMCON for a long time.
To enforce the order, the court also ordered the police authorities in Lagos State to assist the Receiver/Manager and the bailiffs of the Federal High Court in doing their job.
Afrijet Airlines formally operated from the NAHCO Building in the Murtala Muhammed International Airport in Ikeja, Lagos, was also a cargo operator in the Democratic Republic of Congo.
Afrijet Airlines still maintains an aviation maintenance shop with its sister company, Elite Aviation.
Premium times reportage.
"This us also a witch hunt" - said by dumb, unpatriotic nigerians whose heads are stuck Dar stick up their asses that they are unable to see when they're being taken for a ride by politicians.
ReplyDeleteEMANCIPATE YOURSELVES FROM MENTAL SLAVERY PEOPLE
U should emancipate your self from closed boxed thinking. They did this to make the first one look less like what it is (witch hunt). There is nothing that happens without a political motive, the question is will anything meaningful come out of these takeovers? I think not! They just used it to whip up sentiment and Nigerians with their short attention span will only remember the act of taking over without asking questions about the logical conclusion or lack thereof. C'mon they have an election to win in 2019 and they have to start laying the foundation...This is called groundwork.
DeleteAnon 8:58, you are so stupid. The worst I've seen all my life. So those people AMCON took over their properties during GEJ's tenure, were witch hunted right?
DeleteYou guys keep fighting for Ben Bruce. You think if it's a witch hunt, Ben Bruce will not say it himself?
You wonder why you're still jobless and roaming about blogs looking for people to attack? Its because you're not intelligent enough to get yourself a job. Idiot!!!!
These 'big men' sha...
ReplyDeleteThey will collect and refuse to pay instead they spend the money on bitches and luxury
My first time of reading a few comments on anonymous posts since its debuts , and I must say that we live amongst a lot of looneys, crackheads, mentally unstable folks, uncultured human, , psychos, and what ever you can think of.
ReplyDeleteI know some of the stories are fabricated but I bet a lot are also true.
They are quick to go under peoples comments to type crap anonymously when they are actually the names they call the people and they are actually in need of serious medication.
Shegu yar banza kawai.
Mme nton use me
Awon oloriburuku
Make una no find way go cure una cease , dey for blog to troll una OG...mtcheeeew
This one sef na witch hunt, ba?
ReplyDeleteHmmmmmmm.
ReplyDeleteWhy is it only southerners and Christians that are always the victims of this anti corruption and debt recovery campaign ?
I hope that the northerner Muslims are all Saints
James, James! You remind of PHCN. Did any of your parent work there? As that will explain the reason why when one starts to think you now have sense, you just blackout as if to remind us that you remain SDK's dumbest.
DeleteI tire o
ReplyDeleteEkiti senators and their fellow scumbag should come here and shout harassment and witch hunt.
ReplyDeleteEkiti senators and their fellow scumbag should come here and shout harassment and witch hunt.
ReplyDeleteThe idea behind appointing a Receiver/Manager is not to close down the business but to simply recover outstanding debt. The new managers simply carry on with the business (and carry its previous managers along) until such a time when the debt is eventually paid in full.
ReplyDeleteAnon 08:58, AMCON took over Aerocontractors in February, so Silverbird group wasn't the first abeg. Stop giving everything a political undertone. This country desperately needs money (don't we all?) and with low revenue flowing in from the Oil Sector and threatened by terrorists activities, they have to device other means of generating funds in places they ordinarily would have not even bothered with before now.
ReplyDeleteEven me sef, i'm combing through my debtors list to see which debtor can pay up sharp sharp.
No time.