DAILY POST——— A Federal High Court in Lagos has ordered that all accounts belonging to former Super Eagles captain, Nwankwo Kanu and his company, The Hardly Apartments be frozen pending hearing of suit filed for the recovery of over N9bn debt.
Asset Management Corporation Of Nigeria, AMCON, had filed the suit against Kanu and his company in a bid to recover the debt the defendants are owning.
An affidavit by a Credit Officer of AMCON, Victor Igabor, argued by Barrister Niyi Olopade, shows that between May 2008 and January 10, 2011, Skye Bank Plc offered The Hardley Apartments located at Plot 46, Waziri Ibrahim Crescent, Victoria island, Lagos, a loan of over N5bn.
The affidavit said the company secured the loan through a mortgage on its three blocks of 40 accommodation units value at N395m which was guaranteed by the Director of the company, Ayoola Gam-Ikon and Kanu.
It stated that the defendants’ failure to repay the debt with the accrued interest put at N558,313,905.37 as at April 1, 2011 despite repeated demand led the bank to assigning the defendants indebtedness to AMCON as a toxic bank asset in line with the established objective of AMCON.
Igabor said the development was communicated to the defendants through Skye Bank Plc, adding that the defendants admitted to their indebtedness but asked that the contract assigned to AMCON be revoked.
The account officer prayed the court to issue an interim order of possessing of all movable and immovable property known as Plot 46, Waziri Ibrahim Crescent, Victoria Island.
Granting the request of AMCON, the presiding judge, Justice Okon Abang, ordered that AMCON should in the interim possess all the movable and immovable properties known as Plot 46, Waziri Ibrahim Crescent, Victoria Island, Lagos.
Abang also directed that all accounts of The Hardley Apartments as well as that of the defendants be suspended.