AMCON Moves To Recover N784m Debt From Ogboru

The Asset Management Corporation of Nigeria (AMCON) has asked the Federal High Court in Lagos to seize the funds in the bank accounts of a former All Progressives Congress (APC) governorship candidate in Delta State, Chief Great Ogboru, and his firm, Fiogret Limited, over N784 million judgment debt.

In an ex-parte application before Justice Maureen Onyetenu, AMCON said the debt arose from a July 5, 2013 consent judgment entered in its favour by Justice Okon Abang.

The corporation said seven years after, Ogboru and Fiogret “have not taken any step(s) to satisfy/liquidate the judgment sum and the accruable interest.”

It prayed the court to summon all the banks to disclose how much they have with them.

It also wants the court to make an order attaching the monies “to prevent the judgment-debtors from dissipating their funds with the various garnishees (banks).”

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The corporation, through its counsel Mr Kunle Ogunba (SAN) of Insolvency Forte, said this was the only means it could “reap the fruits of its hard-earned judgment in the suit herein.”

But Ogboru and Fiogret Limited are challenging Justice Onyetenu’s jurisdiction to hear the ex-parte motion.

They contended that they had already appealed Justice Abang’s judgment and filed a motion for stay of execution at the Supreme Court.

Besides, they said the Federal Government also owed Fiogret Limited N4.3billion, which the Federal Ministry of Justice had acknowledged on October 20, 2015.

Justice Onyetenu adjourned until February 2, 2021, for ruling on jurisdiction.

NATION