The Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Mr. Frank Okwudili Ezuma and Mrs. Lilian Ifeoma Okwudili Ezuma, the chief promoters of Geedee Zulu Investment Limited over a staggering indebtedness of over N4 billion.
This is following the order of Justice M.S. Hassan of the Federal High Court, Lagos division.
AMCON in a statement said in compliance to the enforcement order, AMCON on Monday August 31, 2020 commenced the process of effective possession of the properties through its Debt Recovery Agent – Prime Chamber Law Firm. The takeover, which has now been completed include property situated at No. 4 Ekulu Close, GRA Enugu, Enugu State and property Along Gborji Road, Aguluezechukwu in Anambra State.
AMCON’s spokesman, Jude Nwauzor said all avenues of peaceful resolution were explored to no avail before AMCON made the decision to seek justice in the court of law.
The case has been interminable since the loan was purchased by AMCON during the first phase of Eligible Bank Assets (EBA) purchases from Union Bank far back as 2011.
