The Asset Management Corporation of Nigeria (AMCON) has taken over an asset belonging to Dr. John Warimeme Abebe, the Chief Promoter of Inducon Nigeria Limited over N1.3 billion debt.
The move was sequel to the recent order by the Federal High Court, Lagos presided by Justice Aikawa.
A statement by Mr. Jude Nwauzor, Head, Corporate Communications Department of the Corporation made available to 21st Century Chronicle on Sunday in Abuja, said in compliance to the enforcement order, AMCON at the weekend took possession of the property situate at Plot12, Block 108 Lekki Peninsula Residential Scheme, Lagos, through its Debt Recovery Agent – Ogunsola Shonibare L.P.
It would be recalled that the case of Inducon Nigeria Limited and its promoters has been interminable shortly after the loan was purchased by AMCON during the 1st phase of Eligible Bank Asset (EBA) purchases from the defunct FinBank (now FCMB) since 2011.
He said since the purchase, AMCON has offered the obligor several concessions and explored all avenues to resolve the debt harmoniously, but the obligor and his company have remained recalcitrant and unenthusiastic to repay the huge debt to AMCON.
