The Asset Management Corporation
of Nigeria (AMCON) has taken over a company and seven properties belonging to
Olajide Omokore, a business associate of Diezani Alison-Madueke, a former
minister of petroleum resources.
In a statement released on
Monday, the corporation said C.J. Aneke, a justice of the federal high court in
Lagos, granted an injunction to take over the assets over a N29 billion debt.
The judge said Omokore and
Cedar’s directors namely Isiaka Mohammed, Joseph Bazuaye and Silas Ode refused
to pay AMCON their admitted sum of over ₦15billion out of the total outstanding
indebtedness of ₦29billion owed to the recovery agency of the Federal Republic
of Nigeria.
All assets belonging to Cedar Oil
& Gas Exploration and Production Limited including Block A, No. 46 Gerrard
Road, Ikoyi Lagos State, comprising of 26 flats; Plot 1236, River Niger Street,
off River Benue Street, Maitama, Federal Capital Territory, Abuja; as well as
Marion Apartment, Block 8, No. 4 & 5, Onikoyi Estate, Banana Island, Lagos
State, consisting of 43 units of apartments. AMCON is also in possession of No.
33A, Cooper Road, Ikoyi, Lagos State; No. 8, Gerrard Road, Ikoyi, Lagos State
as well as Manson Apartments, No. 6, Gerrard Road, Lagos State comprising of 60
units of three-bedroom apartments were affected.
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| AMCON takes over Omokore’s property |
“We saw it coming because the
said debt is long overdue. You can see how these top AMCON obligors are taking
all Nigerians for a ride. Even when they admitted repaying over ₦15billion owed
AMCON, they still did not honour their own agreement, which they did not make
under duress,” Jude Nwauzor, AMCON’s spokesman said.
“I want you to understand that
before we get to this stage with any obligor, we must have patiently tried to
resolve the matter without going to court.
“Anytime we end up taking over
assets such as in the case of Cedar Oil & Gas Exploration and Production
Limited as well as its directors, Mr Olajide Omokore and others, it means all
efforts by AMCON to get the obligor to amicably repay the indebtedness have
proved abortive.
“If you have exhausted all
avenues of peaceful resolution, there is no other option available to the
corporation than to commence enforcement action against the firm and Mr Olajide
Omokore the promoter of Cedar Oil & Gas Exploration and Production Limited
as well as the other directors as ordered by the court and as provided under
Section 49-52 of the AMCON Act.”
Godwin Nwekoyo, AMCON’s receiver,
also received protective orders from the court.
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