‎AMCON takes over Afrijet Airlines over N10b debt

Justice Chuka Austine Obiozor of a Federal High Court, Lagos Division has ordered the Assets Management Company of Nigeria, AMCON, to take over Afrijet Airlines Limited.
The company is allegedly owing AMCON nearly N10 billion.

The order also affects Ibe’s Continental Aviation Services Limited. AMCON has since appointed Prof. Gbolahan Elias, SAN, as Receiver/Manager.

At about 11:00am Friday, the Receiver/Manager took possession of the assets of Chief Ibe, including Afrijet Plaza, the corporate head office of the airlines located on Sheraton-Opebi Link Road Ikeja, Opebi, Lagos; his asset at Plot 22, Jimoh Odutola Street, off Eric Moore Road, Surulere, Lagos as well as his office at the Airport.

The Court order mandated the Receiver/Manager to also take over on behalf of AMCON any other offices, branches, stores, warehouses, factories of Chief Ibe and his companies located and/or traced for the purpose of satisfying the indebtedness.

Justice Obiozor, who gave verdict on the application of Prof. Gbolahan Elias, SAN counsel to AMCON, restrained Ibe and his companies, directors, agents, servants and/or privies from operating, withdrawing from or otherwise tampering with the funds belonging to and/or deposited in any of his bank accounts under whatever name or guise in any bank or financial institution in Nigeria.

Chief Ibe has been in protracted negotiations with AMCON.

The Court, therefore, ordered the Inspector General of Police, Assistant Inspectors General of Police, and the Commissioner of Police in charge of Lagos State, its Deputy and all other Police Officers under them to assist Prof. Gbolahan Elias, SAN, the Receiver/Manager and the Bailiffs of the Federal High Court in the enforcement of the orders of the Court.

No incident was recorded during the enforcement exercise.