Babalakin is a Liar, His Property Remains Confiscated – AMCON

babalakinThe battle between the Asset Management Corporation of Nigeria (AMCON) and the Chairman of Bi-Courtney Limited, Dr. Wale Babalakin (SAN) continues as AMCON on Wednesday, said that claims by the businessman, that he was not indebted to the agency, was untrue and accused him of lying to the whole world.

Counsel to AMCON, Mr. Olisa Agbakoba (SAN) made the clarification, when he briefed newsmen, saying that Babalakin’s cumulative indebtedness to First Bank of Nigeria, Zenith Bank Plc and Guaranty Trust Bank stood at N60 billion, noting that the debt profile of the businessman had been purchased by AMCON from the banks.

Agbakoba, expressed dismay at Babalakin’s claims of non-indebtedness, saying the claim was not only unfortunate but was a huge joke, challenging him to go and settle his debt, rather than running from court to court to stop the agency from recovering the huge money he owed the banks, which AMCON had taken over.

Agbakoba also expressed disappointment with the action of Babalakin so far, after Justice Chukwujekwu Aneke of the Federal High Court in Lagos, granted an ex-parte order permitting AMCON to take possession of Babalakin’s property at 43, Afribank Street, Victoria Island, Lagos: “I had written to the Inspector General of Police to confirm whether his officers were used to sabotage a valid court order. Mr Babalakin also barged into the venue of the conference organised for judges of the Federal High Court in Lagos with a team of policemen, and queried why he was not invited. In any case, we have filed a motion asking Justice Aneke to restore possession of Babalakin’s property to AMCON.”