The Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Aeroland Travels Limited, and its directors over an indebtedness of N1.8 billion.
The corporation’s spokesperson, Jude Nwauzor, who disclosed this in a statement on Monday, said the takeover was sequel to the order of Justice D.E. Osiagor of the Federal High Court, Lagos Division.
According to him, Justice Osiagor gave the ruling on February 7, 2022, and in compliance to the enforcement order of the Court, AMCON 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.
The properties included 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 freezing of the bank accounts and shares of the company’s directors, including those of Otunba Segun Adewale and Mrs. Victoria Adewale.
The court additionally granted AMCON rights to seize any other landed property in any other place that may be found within the jurisdiction of the Federal High Court belonging to Aeroland Travels Limited or either of its directors.
Nwauzor further clarified: “All the property as listed in the court order have been taken over by AMCON with the assistance of court bailiffs among other officials of the law. AMCON had purchased the non-performing loans (NPLs) 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”, he added.
However, the owner of Aeroland conglomerates, Otunba Segun Adewale, has accused the AMCON of illegally sealing his business premises over an alleged debt to Polaris Bank.
Adewale claimed that Polaris Bank refused to grant him access to his N1.77bn in the bank shortly after the 2015 Lagos West Senatorial Election.
The businessman further claimed that he took the bank to court in 2018 over his seized money and that neither the officials of the bank nor its lawyers appeared in court, only for them to accuse him of owing them and got an ex-parte order to seal his property.
He maintained: “We will approach the court and the judge would see to the matter. They swore to an oath and lied, when they ought to pay me my money.”
