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Thu Apr 15 2021
The Asset Management Corporation of Nigeria (AMCON) has approached the National Assembly to be accommodated in the provisions of the newly amended Banks and Other Financial Institutions Act, 2020 (BOFIA, 2020), which sets up Special Tribunals for hearing financial matters emanating from the financial institutions.
The Managing Director/Chief Executive Officer of AMCON, Mr Ahmed Kuru, made the plea before the Senate Committee on Banking, Insurance and other Financial Institutions at the National Assembly in order to quickly settle the Corporation’s liability in excess of N5.4 trillion.
Kuru said the proposed amendment and a few others will be critical to AMCON’s expected deliverables as they would enable the Corporation to resolve the debts fast.
AMCON seeks special tribunal to recover N5 4 trillion debt
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Businessman recovers Lekki property from trespasser
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A businessman, Mr. Adedayo Mumuni Shittu, has recovered from an âunknown individualâ, his plot of land at Block B Plot 2 Victory Park Estate Igbokushu, Lekki Phase I, Lagos, following a court order.
The land, delineated by Survey No. DK/0332/014/20011/LA, was registered at the Land Registry of Lagos State as No. 61, Page 61 Volume 2467.
Shittuâs lawyer, Ojumetor Agha of Pistis Partners LLP, said the recovery, which occurred at the weekend, was in execution of a Lagos High Court injunction restraining a Receiver-Manager appointed by the Asset Management Corporation of Nigeria (AMCON) from encroaching on the land.
Justice Kudirat Jose had on October 24, 2019, dismissed AMCONâs notice of preliminary objection and granted an interlocutory injunction in favour of Shittu and More & S A More Limited authorising them to protect their interest in the property at Victory Park Estate.