Business
AfriJet Airlines loses assets to AMCON over N10bn debt
AfriJet Airlines, owned by Vitalis Ibe, on Friday joined the growing list of companies that have lost their assets to the Asset Management Corporation of Nigeria (AMCON). AfriJet allegedly has an unpaid debt of almost N10 billion hanging on its neck .
In a statement issued by Mr Jude Nwauzor, Head, Corporate Communications, AMCON in Lagos on Friday, AMCON said the takeover was based on an interim injunction granted against the airline by Justice Chuka Obiozor of the Federal High Court, Lagos Division.
“The obligor owes AMCON nearly N10 billion. AMCON purchased the Eligible Bank Assets (EBAs), sometime in 2011 from the defunct FinBank and Bank PHB. The order also affects Ibe’s Continental Aviation Services Ltd., AMCON has since appointed Prof. Gbolahan Elias (SAN), as Receiver/Manager, ” the statement said.
It also noted said the receiver/manager at about 11a.m. on Friday simultaneously took possession of the assets of Ibe including Afrijet Plaza, the corporate head office of the airlines in Lagos.
“The court order mandated the receiver/manager to also take over on behalf of AMCON any other offices, branches, stores and factories of Ibe. And his companies located and/or traced for the purpose of satisfying the indebtedness,” the statement added.
With AMCON’s intervention, Ibe and his companies have been restrained from operating or tampering with the funds in his bank accounts under whatever name or guise in any bank or financial institution in Nigeria while the Inspector General of Police is to assist Elias in the enforcement of its orders.
The new wave of interventions by AMCON began last week with the seizure of assets belonging to the Global Fleet group owned by Jimoh Ibrahim, and the Silverbird Group owned by Senator Ben Murray-Bruce.
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