✕ 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

NICON assets: Court okays process to jail AMCON MD

A Federal High Court in Abuja has issued an order to commence committal proceedings against the Managing Director of the Assets Management Company of Nigeria…

A Federal High Court in Abuja has issued an order to commence committal proceedings against the Managing Director of the Assets Management Company of Nigeria (AMCON), Ahmed Lawal Kure, over alleged seizure of NICON Insurance Ltd’s assets.

Justice Okon Abang, on Friday, also ordered the commencement of committal proceedings against the executive directors of the company, Eberechukwu Uneze, and Aminu Ismail.

Justice Abang said the service of the forms 48 and 49 of the committal proceedings on the officials was because they are natural persons, prime movers, alter ego, directing minds, principal officers of AMCON.

The judge held that the defendants allegedly flouted the subsisting order of court made on 18/8/2021 restated on 9/3/2022 predicated on the subsisting undertakings made by the defendants’ counsel given freely on 16/8/2021 that the defendants will not take steps to flout order of court made in favour of the plaintiffs herein or undermine the subject of the suit pending hearing and determination of the plaintiff suit.

The application ex parte was brought by NICON Investment Ltd, NICON Insurance Ltd, Nigerian Reinsurance Corporation Plc, and Barrister Jimoh Ibrahim through their counsel, Victor Ogbonna against AMCON and 11 others over the seizure of the insurance firm’s assets.

The others who are joined in the motion are Bureau of Public Enterprises, Lamis Shehu Dikko, Dr Henry Ationu, John Abuh Oyidih, Alexnader Ayoola Okoh, Ahmed Dahiru Modibbo, Mela Audu Nunghe, Olugbenga Falekulo, Olusegun Ilori, Yvonne Isichei, and the Inspector General of Police.

LEARN AFFILIATE MARKETING: Learn How to Make Money with Expertnaire Affiliate Marketing Using the Simple 3-Step Method Explained to earn $500-$1000 Per Month.
Click here to learn more.

VAMAZON KDP PUBLISHING: Make $1000-$5000+ Monthly Selling Books On Amazon Even If You Are Not A Writer! Using Your Mobile Phone or Laptop.
Click here to learn more.

GHOSTWRITING SERVICES: Learn How to Make Money As a Ghostwriter $1000 or more monthly: Insider Tips to Get Started. Click here to learn more.
Click here to learn more.

SECRET OF EARNING IN CRYPTO: Discover the Secrets of Earning $100 - $2000 Every Week With Crypto & DeFi Jobs.
Click here to learn more.