AMCON Seeks Court’s Permission to Freeze Ogboru’s Accounts

The Asset Management Corporation of Nigeria (AMCON) has prayed the Federal High Court in Lagos for an order to attach 22 bank accounts of a former All Progressives Congress (APC) governorship candidate in Delta State, Chief Great Ogboru, and his firm, Fiogret Limited, over an alleged N784million debt.

AMCON said the debt arose from a July 5, 2013 consent judgment entered in its favour by Justice Okon Abang.

The corporation said about seven years after the judgment; Fiogret Limited and Ogboru have not liquidated the debt and the accruable interest.

AMCON said its investigation showed that Fiogret and Ogboru had accounts in 22 banks in Nigeria.

It prayed the court to summon the banks to disclose how much Fiogret Limited and Ogboru have with them.

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

Attachment is a legal process by which a court of law, at the request of a creditor, designates specific property or funds owned by the debtor to be transferred to the creditor.

AMCON said this was the only means by which it could “reap the fruits of its hard-earned judgment in the suit herein.”

But, Fiogret Limited and Ogboru are challenging Justice Maureen Onyetenu’s jurisdiction to hear AMCON’s application.

The alleged debtors said they had appealed Justice Abang’s judgment up to the Supreme Court.

Besides, they said their motion on notice for a stay of execution of the judgment was also pending before the highest court.

They contended that contrary to AMCON’s claim, there was no provision in AMCON Act stipulating that they must pay the N784million into an account approved by the court pending the determination of their appeal by the Supreme Court.

They added that the Federal Government also owed Fiogret Limited N4.3billion.

According to them, the Federal Ministry of Justice had on October 20, 2015, acknowledged and expressed the Federal Government’s resolve to pay N350million to AMCON.

Justice Onyetenu adjourned till April 1 for hearing.  (The Nation)