AMCON Yet To Pay Us N132bn Debt, Says Bi-Courtney

Wale-BabalakinThe managements of Bi-Courtney Limited, Chartered Investment Limited, Resort International Limited and Roygate Limited have debunked a statement credited to a Senior Advocate of Nigeria, Mr. Olisa Agbakoba that the companies’ asset were taken over by the Asset Management Corporation of Nigeria, AMCON, over alleged N50bn debt.

The company in a statement on Sunday maintained that it was AMCON that was owing Bi-Courtney N132bn.

Bi-Courtney Ltd, a company belonging to Dr. Wale Babalakin (SAN), operates the Murtala Muhammed Airport 2 in Lagos based on a concession agreement between the company and the Federal Government.

Also, based on a concession agreement between Roygate Properties Limited and the Federal Government, Bi-Courtney also operates the old Federal Secretariat building in Ikoyi, Lagos.

According to the firms, a Federal High Court had awarded the N132bn in favour of Bi-Courtney Limited against the Federal Government and AMCON on November 4, 2011.

Recall that Agbakoba had in a statement claimed that a Federal High Court in Lagos gave AMCON an interim order to take over the management of the companies and their bank accounts.

He had further stated that he had been appointed as the manager of the assets being the lawyer to AMCON.

But Bi-Courtney in a counter-statement, alleged that the said interim order was fraudulently and unlawfully obtained.

The company alleged that while seeking the order, AMCON had purposely concealed the ruling of the Federal High Court which restrained the corporation from interfering with the operations and finances of Bi-Courtney Limited and the others.

The management of the company further claimed that a Federal High Court in Lagos had on September 25, 2014 granted an order restraining AMCON and its associates from “any attempt to interfere with Bi-Courtney Limited and condemned AMCON’s attempt to violate an existing court order as unlawful, contemptuous, irresponsible and inconsistent with the laws of Nigeria”.

The company said it warned and advised the public to ignore the notice issued by AMCON that the companies’ assets had been conceded to AMCON and Agbakoba appointed as the receiver manager.

The company said, “We want to reiterate and assure our customers and the general traveling public who have enjoyed the widely-acclaimed services of MMA2 of their continued comfort, security and safety within the laws of Nigeria. Our business and undertakings are being carried out as usual”.