Senator Stella Oduah. Twitter
The Asset Management Corporation of Nigeria (AMCON) has taken over Sea Petroleum Oil & Gas Ltd and different belongings belonging to Senator Stella Oduah over a debt of about N20bn.
AMCON stated the takeover adopted an injunction granted by Justice M.S. Hassan of the Federal High Court, Lagos, in opposition to the Sea Petroleum Oil & Gas Ltd.
The company, in an assertion by its Head, Corporate Communications, Jude Nwauzor, on Friday stated that Oduah had been having a working battle with AMCON over her “inability to settle her huge debt of nearly N20bn.”
The assertion stated that AMCON bought the Eligible Bank Assets of Sea Petroleum & Gas from Union Bank Plc someday in 2012.
It stated that despite overtures and real efforts made by AMCON to succeed in an amicable settlement, the senator and her co-promoters had been uncooperative.
The assertion also said that having exhausted all avenues of peaceable decision of the humongous debt, AMCON had no different alternative than to refer the matter to courtroom.
It stated that the order additionally affected the senator’s different enterprise pursuits, for which AMCON had since appointed Moyosore Jubril Onigbanjo (SAN) as receiver over the belongings of Oduah-Ogiemwonyi; Sea Petroleum Oil & Gas; Sea Petroleum and Gas FZE in addition to Star Tourism and Hotels Ltd.
The assertion stated that the courtroom additionally ordered the freezing of the funds of Sea Petroleum & Gas and its affiliated firms and principal promoters, held anyplace by any entity or individuals in Nigeria.
It additionally authorised AMCON and its receiver, Onigbanjo, to take over all belongings pledged as collateral for the ability by Sea Petroleum Oil & Gas Ltd.
Other affected belongings, based on AMCON, are two tank farms of 500 metric tonnes capability; a property at Maiyegun Tourism Zone, Lekki Peninsula Scheme 11, Lagos Island and a filling station complicated at kilometre 14, Lekki-Epe Expressway, Ikota, Lagos.
The courtroom order additionally listed a host of different belongings throughout the nation, together with Plot 2, Block 12C, Babafemi Osapa Crescent Lekki; Block 5, House 4A Mobolaji Johnson Estate, Lekki, and workplace/filling station at Jakande in Lekki, Lagos, amongst others.