A real estate company, Grant Properties Limited, has urged the Economic and Financial Crimes Commission (EFCC) to determine how much it owes the Asset Management Corporation of Nigeria (AMCON).
The firm, in a petition by its Managing Director/Chief Executive Officer (CEO) Dr Olawunmi Olajide-Awosedo to EFCC Chairman, Abdulrasheed Bawa, said it had repaid its N8.5billion debt to AMCON.
The company said AMCON, in a January 27, 2015 letter, stated that the balance of its debt was N6.5billion.
Grant Properties said after AMCON took over its properties and homes, the agency informed the company that its debt was N8.5 billion, including all recovery expenses.
“Shortly after this, they said the debt would be increased to N22 billion ‘based on your posture’. On October 2, 2018, they wrote that the debt was N23 billion.
“On August 21, 2019, they wrote that the debt was now N17.6 billion (based on a debt of N12.966 billion from a judgment, and N4.68 billion being claimed in a suit before the Federal High Court).”
Grant Properties believes it was “mathematically impossible for the debt to have grown to N22 billion, N23 billion or N17.6 billion.”
The firm added: “We also hold that even if the debt due was N17 billion as claimed in their most recent demand (on August 21, 2015), then we have paid it in full, with a significant excess of our assets in the hands of AMCON.”
Urging the EFCC to intervene, the firms claimed that assets taken from it and sold by AMCON were worth over N50 billion, “which is more than adequate to settle the debt…”
AMCON spokesman Jude Nwauzor said the matter was in court.
“This is a protracted court case. It is improper to comment on cases that are in court.
“Meanwhile, it is not in the place of the EFCC to determine how much an obligor is indebted to AMCON,” he said.
