25th September, 2019
By Akin Kuponiyi
A Federal High Court in Lagos, Southwest Nigeria has granted an order of possession of seven choice properties scattered across Lagos Island belonging to a Lagos businessman, Samuel Ademosun and his wife, Toluleke Ademosun to Asset Corporation of Nigeria, AMCON pending the hearing and determination of the debt recovery suit filed against them by AMCON.
The properties were alleged to have been used as securities for credit facilities granted by some banks to two companies, Hometrust Saving &Loans Limited and Magna Building Society Limited.
The presiding Judge, Justice Ayotunde Faji, also ordered that nine bank accounts belonging to Samuel Ademosun domicile in two different banks, and four bank accounts of Hometrust Sayings & Loans Limited should also be frozen pending the hearing and determination of the debt recovery suit to be filed by AMCON.
The court also directed the central Securities Clearing System Limited to place lien in favour of AMCON over the shares belonging to Hometrust Savings & Loans Limited, Samuel Ademosun and Toluleke Ademosun in seven commercial banks and Investment & Allied Insurance company Limited used as security for the credit facilities granted to Hometrust Savings &Loans limited company.
The court also directed the officers and men of the Nigeria Police Force or the Nigeria Security and Civil defence Corps to assist and provide protection to the bailiff of the court and AMCON for the execution of the order taking over possession of the property granted.
The court made the order based on affidavit sworn to by Okwudili Ikegwuonu, Resolution Officer of AMCON accompanied by written address filed and argued before the court by Barrister Collins Ogbonna.