14 Deap Capital directors’ assets seized by AMCON over N1.6bn debt

AMCON

14 Deap Capital directors’ assets seized by AMCON over N1.6bn debt

Following the ruling of Justice Chukwujekwu Aneke of the Federal High Court, Lagos, on January 18, 2021, the Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to 14 directors of Deap Capital Management and Trust Plc. over an indebtedness of N1.6 billion.

In a statement, the corporation said it took effective possession of the seven properties as listed by the court through its debt recovery agent, Etonye & Etonye, on February 23.

According to the statement, the properties include the ones situate at Plots 14, 15, 16 and 17 in Block 1B, Isolo-Ishag Area, Mushin, Lagos State; Mile 3, Old Isheri Road, Ikeja, Lagos State; Plot 13, Block 65 Magodo Residential Scheme, Lagos State; No. 73, Femi Kila Street, Okota, Isolo, Lagos State; Plot 22, Block 91, Lekki Peninsula Residential Scheme, Lekki Area, Lagos; Government Land Allocation, Lekki Peninsula Scheme II, Lekki, Lagos State; and 2nd Avenue Estate Extension Ikoyi, Plot No. 11 Eti Osa LGA, Lagos State.

It further disclosed that the court also ordered the freezing of the bank accounts and shares of the company’s directors namely: David Ogwu, Anthony Ezeh, Clara Rotzler, Vincent Otiono, Vincent Sankey, Victoria Alo, Hon. Preye Ogriki, Treasure Afolanyan, Chief Nwagwu, Peter Ololo, Gordons Ejikeme, Joe Idudu, Falcon Securities Ltd and Rainoil Limited.

On why AMCON had to wait for over a month to carry out the order, the corporation’s spokesperson, Jude Nwauzor, said: “It takes a process to effect these orders.

“We are a government agency that is guided by law and order, and we must meet all the legal conditions before any enforcement is made. So, the length of delay is not the issue. The important thing is to carry out the order as guided by the law.”