Asset Management Corporation of Nigeria (AMCON).

A Federal High Court, Abuja has granted an ex-parte application authorising the Asset Management Corporation of Nigeria (AMCON) to seize the Abuja properties of Doggi Continental Nigeria Limited and Alhaji Abdullahi Umaru Baba. Justice Taiwo Taiwo ruled that the order subsists, pending the institution and disposal of proceedings for debt recovery against the respondents pursuant to Section 49 of the AMCON Act, 2010.

The assets are Plot No. 1274 Katampe Hills, Katampe District, Abuja, F.C.T., and Plot No. 3810 Cadastral Zone A04 Asokoro, Abuja with File No: FCT/ABU/ZA/10124 all belonging to the respondents.

The judge made the interim order after reading the affidavit in support of the motion ex-parte deposed to by Nelly Ebegboni and having heard Mr. C. Ezeokwuora of Benson Reeds LP in Abuja move the motion paper.

He held: “An interim order is hereby made, attaching, taking possession of the properties being Plot No. 1274 Katampe Hills, Katampe District, Abuja and Plot No. 3810 Cadastral Zone A04 Asokoro with file number: FCT/ABU/ZA/10124, all belonging to the respondents.”

He further restrained the respondents from interfering with AMCON’s possession of the properties.

In addition, the judge granted an interim Mareva injunction, attaching all sums standing to the credit of the respondents in any bank in Nigeria up to the amount of the outstanding indebtedness of the respondents to the applicant.

“The properties shall not be sold by the applicant until the disposal of proceedings for recovery of the debt. The applicant must respect the interest of any third party occupying the properties.”

The judge added: “Nobody with third party interest shall be ejected as a result of the orders now granted. Any person with third party interest shall be notified of the orders of this court, which shall be pasted in a conspicuous part of the property.”

Besides, the court held, among others, that any rent due and yet unpaid and any outstanding rent, including rents due from the time of these orders should be paid into an interest-yielding account to be opened for that purpose by the applicant, while none of the respondents should be ejected from the properties.

Lastly, Justice Taiiwo directed all the banks, upon being served with the orders, to file affidavits showing the balance of the respondents jointly and severally in their respective financial institutions.

He thereafter adjourned till September 22 for hearing of the substantive suit.