✕ CLOSE Online Special City News Entrepreneurship Environment Factcheck Everything Woman Home Front Islamic Forum Life Xtra Property Travel & Leisure Viewpoint Vox Pop Women In Business Art and Ideas Bookshelf Labour Law Letters
Click Here To Listen To Trust Radio Live
SPONSOR AD

Bi-Courtney: AMCON appeals order revoking assets takeover

Justice Ibrahim Buba, had on Sept. 29, upturned an order  by Justice Okon Abang allowing AMCON to take over assets of Wale Babalakin (SAN), Chairman…

Justice Ibrahim Buba, had on Sept. 29, upturned an order  by Justice Okon Abang allowing AMCON to take over assets of Wale Babalakin (SAN), Chairman of Bi-Courtney Group.
Abang, had on Sept. 22, granted Dr Olisa Agbakoba (SAN), a former president of the Nigerian Bar Association receivership of the assets of Babalakin.
The assets included the Terminal 2 of Murtala Muhammed International Airport, Bi-Courtney Group, Chartered Investment Ltd, Resort International Ltd and Roygate Properties Ltd.
The News Agency of Nigeria (NAN) reports that the order was based on a N50 billion debt allegedly owed AMCON by Babalakin. Buba had upturned Abang’s ruling and held that the order amounted to an abuse of court process since it was made in the face of previous orders and suits in respect of the same subject matter.
Dissatisfied with the order, AMCON, through its lawyer, Agbakoba, has filed a notice of appeal and formulated four grounds before the appellate court.

Join Daily Trust WhatsApp Community For Quick Access To News and Happenings Around You.

UPDATE: Nigerians in Nigeria and those in diaspora can now be paid in US Dollars. Premium domains can earn you as much as $17,000 (₦27 million).


Click here to start earning.