N500m Debt: AMCON takes over Polema Industries’ assets


Acting on the rulings of Justice F.O.G. Ogunbanjo of the Federal High Court, Abuja, the Asset Management Corporation of Nigeria (AMCON) has taken over a factory and other assets belonging to Polema Industries Limited and its chief Promoter, Chief Emmanuel Obi, over an indebtedness of over half a billion naira. In a statement, the corporation said: “In compliance with the order, AMCON, through Barr. Chike Adaka of Elite Law, the Debt Recovery Agent, who also received protective orders from the court on Wednesday, June 24, 2020, took effective possession of…

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