vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
A Lagos Division of the Federal High Court has declined an application to vacate an interim order used by the Asset Management Corporation of Nigeria (AMCON) to seize properties belonging to billionaire businessman, Jimoh Ibrahim, for an alleged N69.4 billion debt.
Channels Television
Residents and landlords of Victory Park Estate, Lekki, Lagos have asked President Muhammadu Buhari and Governor Babajide Sanwo-Olu to call the Asset Management Corporation of Nigeria (AMCON) to order over alleged disobedience to court orders.
The estate spans almost 50 hectares and is one of the gated communities along the Lekki Peninsula Scheme 1.
The residents are accusing AMCON and its receiver-manager of outright disregard for law and order and illegal use of official powers.
They have also accused AMCON of harassment and persecution of the legitimate residents and owners of the estate despite pending court cases and orders.
Two of such cases were filed by Mrs. Bose Ibude and Okechukwu Okoli alongside his wife against AMCON and its Receiver/Manager, Lanre Olaoluwa.
The benefits of the fuel subsidy removal far outweighs the pains associated with the expected rise in petrol pump price due to the upswing in crude oil price, writes Obinna Chima
The rising cost of Brent crude oil and its attendant implication on petrol price in the country appears to have resuscitated the age-long debate over fuel subsidy removal in Nigeria.
Once more, there has been divergent views about this policy which until it was phased out last year, was a thorn in the flesh of successive governments in the country.
For instance, the federal government had disclosed that the nation spent N10. 413 trillion on fuel subsidy between 2006 and 2019, even as the country consistently grappled with low revenue generation over same period.