The Asset Management Company of Nigeria (AMCON) has taken over 30 hectares of land located along the Lagos/Ibadan Expressway.
The multi-billion naira property includes Fagbems Petrol Station, which is situated on one of the lands, in the OPIC-Isheri area of Ogun State.
A team of AMCON officials, some of its lawyers, and the court bailiff accompanied by police officers carried out the enforcement order which saw AMCON moving against debtors owing the Federal Government the sum of N9.8 billion.
The debtors, according to the court suit, are Knight Rook Ltd (under AMCON Receivership), Fibigboye Estates Ltd, and Grant Properties Ltd.
AMCON’s move followed an ex-parte order granted in the agency’s favour by Justice Saliu Saidu of the Federal High Court on June 18, 2020.
The order attached the respondents’ properties for the satisfaction of the N9,866,510,191.00 debt.
The property is delineated on Survey Plan No. LC10320G of July 30, 2004.