The Asset Management Corporation of Nigeria (AMCON) announced that it has seized control of assets owned by Segun Adewale’s Aeroland Travels Limited due to a N1.8 billion debt.
The decision of Honourable Justice D.E. Osiagor of the Federal High Court, Lagos Division, indicated thus, according to AMCON spokesman Jude Nwauzor.
“It will be recalled that Justice Osiagor issued the ruling on February 7, 2022, and in accordance with the court’s enforcement order, AMCON put logistics in place, and on Friday, May 6, 2022, took effective possession of the nine properties listed by the court through its debt recovery agent, Robert Ohuoba & Co.,” it said.
“Among the properties are those at Plot 4 & 4B Block 66 Magodo Scheme, Lagos State; Plot 9, Block 44c, Adetoro Adelaja Street, Magodo Lagos; No. 4C Maye Ogundana Street, Magodo Lagos; No. 10 Oluyomi Oshinkoya Street, Magodo Residential Scheme, Lagos; Plot 8, Block 66, Residential Scheme, Sangisha, Lagos; No.
The court also ordered the bank accounts and shares of the company’s directors, including Mr Segun Adewale and Mrs Victoria Adewale, to be frozen, according to the statement.
The court also gave AMCON the power to confiscate any other real property belonging to Aeroland Travels Limited or any of its directors that may be located within the jurisdiction of the Federal High Court.
Nwauzor stated that AMCON has taken over all of the property named in the court order with the help of court bailiffs and other law enforcement personnel.
“In 2018, AMCON bought the non-performing debt of Aeroland Travels Limited from Polaris Bank (formerly Skye Bank),” according to the statement.
“All prior efforts by AMCON and its representatives to resolve the debt amicably with the obligor had proven futile until the advent of the court order, which is why the corporation turned to the court for justice.”