AMCON Seizes Assets Of Lagos Politician And Aeroland Over A N1.8 Billion Debt

AMCON Seizes Assets Of Lagos Politician And Aeroland Over A N1.8 Billion Debt

The Asset Management Corporation of Nigeria (AMCON) announced that it has taken control of assets owned by Segun Adewale’s Aeroland Travels Limited due to a N1.8 billion debt.

The order of Honourable Justice D.E. Osiagor of the Federal High Court, Lagos Division, said this, according to AMCON spokesperson Jude Nwauzor.

[the_ad id=”41445″]

It stated, “It would be recalled that Justice Osiagor gave the ruling on February 7, 2022, and in compliance to the enforcement order of the court, AMCON put logistics together, and on Friday, May 6, 2022, took effective possession of the nine properties as listed by the court through its debt recovery agent – Robert Ohuoba & Co.

ReadMore: Miyetti Allah Denies Buying Jonathan’s APC Presidential Nomination Form

“The properties include those situated at Plot 4 & 4B Block 66 Magodo Scheme, Lagos State; Plot 9, Block 44c, Adetoro Adelaja Street, Magodo Lagos; No. 4C Maye Ogundana Street, Magodo Lagos; No. 10 Oluyomi Oshinkoya Street, Magodo Residential Scheme, Lagos; Plot 8, Block 66, Residential Scheme, Sangisha, Lagos; No. 2A John Olugbo Street, Ikeja, Lagos; No. 2 Fadeyi Street, off Awolowo way, Ikeja, Lagos; No. 8 Surulere Alelor Street, Millenium, Gbagada; and No. 14 Jerry Iriabe Street, off Bashorun Okunsanya, off Admiralty Road, Lekki Penisula.”

The court also ordered the bank accounts and shares of the company’s directors, including Mr. Segun Adewale and Mrs. Victoria Adewale, to be frozen, according to the statement.

The court also granted AMCON the right to confiscate any other real property belonging to Aeroland Travels Limited or any of its directors that may be found within the jurisdiction of the Federal High Court.

Nwauzor stated that AMCON has taken over all of the property named in the court order with the help of court bailiffs and other law enforcement personnel.

[the_ad id=”41445″]

The statement said, “AMCON had purchased the non-performing loan of Aeroland Travels Limited from Polaris Bank (formerly Skye Bank) in 2018.

“Until the coming of the order of the court, all previous efforts by AMCON and its representatives to resolve the debt amicably with the obligor had proved abortive, which was why the corporation resorted to the court for justice.”