AMCON Risks Losing N12.9bn Judgement Debts Over Fraudulent Activities

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The Assets Management Company of Nigeria, AMCON has said it is a victim of some fraudulent activities and stands to lose over N12.9 billion which is a judgment debt belonging to all Nigerians.

At a press conference in Lagos, lawyers to AMCON clarified that while reviewing claims by third parties in respect of some properties at the Victory Park Estate in Lekki, it found that some of the purported instrument of transfer in respect of properties in the estate to third parties was fraudulently executed by persons who had no authority to deal with them.

“As of today, AMCON has a judgement which has been confirmed for the sum of N12.9bn.

“This government came into power with a heightened priority concerning the recovery of AMCON’s debt because as of today, it amounts to over N5trn which is money that belongs to you and I.”

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AMCON added that it needed to set the record straight as a result of incessant falsehood, fabrications, and half-truths being bandied about. The institution called for the understanding and support of all Nigerians as it continues to engage with stakeholders in resolving the issues and realizing its debts.

“The money must be obtained, if AMCON is removed today, it will not change the fact that the property belongs to the Federal Government of Nigeria because the court has said so.

“What can change it are the people engaging with AMCON to resolve the issue, they are victims but AMCON is a bigger victim,” it added.


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