In a bid to recover a debt of N924,788,754.56, a Federal
high court sitting in Lagos, western Nigeria, has ordered that all accounts
belonging to former captain of the Super Eagles, Nwankwo Kanu and his company,
The Hardley Apartments anywhere and in any bank or financial institution in
Nigeria
should be frozen pending the hearing of a suit filed against him and
his company.
Also affected by the order of the court is a Director of
Hardley Apartment, Ayoola Gam-Ikon.
The order of the court was as a result of a debt recovery
suit filed by Asset Management Corporation Of Nigeria(AMCON) against the
defendants.
In an affidavit sworn to by a Credit officer in the
Directorate of AMCON, Mr Victor Igabor, and filed and argued by Barrister Niyi
Olopade, the deponent averred that sometime between May, 2008 and 10 January,
2011 Skye Bank offered The Hardley Apartments engaged in business of
hospitality located at Plot 46, Waziri Ibrahim Crescent, Victoria Island,
Lagos, a loan of N520,457,000.
The loan was secured by a mortgage on the company’s three
blocks of forty accommodation units with estimated open market value of N395
million as well as unconditional personal, joint and several guarantee of
Ayoola Gam-Ikon and Nwankwo Kanu.
The defendants failed to repay the loan with the accrued
interest despite repeated demands, consequent upon which Skye Bank Plc assigned
the defendants indebtedness in the sum of N558,313,905.37 as at 1 April, 2011
to the AMCON as a toxic bank asset in line with the establishment objective of the
said AMCON.
Mr Igabor averred further that, this development was
communicated to the defendants by Skye Bank who admitted their indebtedness but
praying that the assignment to AMCON be revoked.
The defendants’ indebtedness as at the 15th October 2015 stood
at N924,788,754.56 representing principal and interest while interest is still
running.
Consequently, Igabor contended that The Hardley Apartments
is in the process of being dissipated, therefore if the application is not
granted, Ayoola Gam-Ikon and Nawankwo Kanu could dissipate the assets of the
company. It therefore urged the court to issue an interim order of taking
custody of all movable and immovable properties known as Plot 46, Waziri
Ibrahim Crescent, Victoria Island, Lagos.
It also sought an order
attaching the debt due from The Hardley Apartments as well as debts accruing
from the defendants jointly and severally and freezing all accounts belonging
to the defendants jointly and severally in any bank or financial institution in
Nigeria.
The presiding judge, Okon Abang, while acceding to the
request of AMCON, ordered that AMCON shall in the interim possess all the
movable and immovable properties known as Plot 46, Waziri Ibrahim Crescent,
Victoria Island, Lagos.
That in the interim the debt due or accruing from The
Hardley Apartments as well as the debts accruing from the defendants jointly
and severally and freezing all accounts belonging to the defendants jointly and
severally anywhere and in any bank and any financial institution in Nigeria are
hereby attached pending the hearing of this suit.
The matter has been adjourned for hearing.
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