The Asset Management Company of Nigeria (AMCON) yesterday ejected residents of a property in Victoria Island, Lagos, in compliance with an order of the Federal High Court sitting in Lagos.
The company was executing a judgment concerning an unpaid debt owed by the late Amb. Olujimi Jolaoso.
The debt was originally owed by Jolaoso to a Nigerian commercial bank, FCMB Plc, but AMCON became his creditor after taking over the debt from the bank.
Our correspondent reports that AMCON officials were met with resistance by the residents, but a breakdown of law and order was averted following the professionalism and maturity displayed by lawyers , policemen and court officials.
The residents’ opposition to the execution, was as a result of two conflicting orders of the court, issues by two judges, concerning the same property.
One of the orders restrained AMCON from the property, while the order gave AMCON the go ahead to take over the property.
The controversy over the debt has been the subject of a lingering legal tussle at the Federal High Court, Lagos, since 2021 with three judges of the court sitting on the matter.
Specifically, on June 25, 2024, Justice Lewis Alagoa granted an interlocutory injunction restraining the defendants (AMCON) or its agents from entering, trespassing upon, selling, leasing, entering into possession or dealing with the property at No. 16 (Plot 21), Festival Road, Victoria Island, Lagos, said to be Jolaoso’s property, but under the control and custody of the Plaintiffs in the suit pending the determination of this suit.
Justice Alagoa adjourned hearing of the motion on Notice till October 3, 2024 for hearing of the matter
However, on October 2, 2024, Justice Chukwujekwu Aneke of the same division of the court, granted another ex parte application filed and moved by AMCON to take possession of all properties, movables and immovable including buildings, furniture, fitting, and any other chalets on the same property.
Justice Aneke granted leave to AMCON to take over all the assets belonging to the defendants, Safequip Nigeria Limited and or MR, Olujimi Jolaoso (Deceased) described as follows;
“All that property municipally known as 21 Festival Road, Victoria-Island, Lagos being the Mortgaged properly which the 1st Defendant and Mr. Olujimi Jolaoso (Deceased) placed as security for the repayment of the loan facility granted the’ 1st Defendant by FCMB an eligible Financial Institution which non-performing loan was duly purchased by the Claimant under the enabling Act and subject of the Judgment of His Lordship I. N. Buba (Judge) dated 10th day of June, 2015.”
The judge also directed the Nigeria Police Force, the Inspector-General of Police and the Commissioner of Police Lagos state, to assist the Bailiffs and or Deputy Sheriff of the court to enforce the Orders made pursuant to Section 4 of the Police Act and Section 287(3) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and arrest and bring before the Federal High Court any perion who disturbs, the execution of the ex-parte Order herein granted or disturb the Officers, agents, Privies and assigns of the Claimant in their occupation of the premises or performance of their duties or to ‘reenter the property or tamper with any, assets, covered by the Order of the court.
“And after hearing the submission of Ajibola Ariba Esq. with M. M. Sotubo Esq. counsel for the Applicant move in terms of the Motion paper….
“It is hereby ordered as follows. “That an Order of Interlocutory Injunction is granted restraining the Defendants either by themselves of their agents, privies, servants, representatives Of anyone acting on their behalf Of claiming through them from entering into trespassing upon, selling, leasing, entering into Possession of dealing with any manner Whatsoever the property at No. 16 (Plot 21), Festival Road, Victoria Island, Lagos being the Property of the said MR Olujimi Jolaoso (deceased) and now under the control and custody of the Plaintiffs herein pending the hearing and determination of this Suit.
“That the matter is further adjourned to 3rd day of October, 2024 for hearing.”
While Justice Aneke’s orders delivered on October 2, granted AMCON power to take possession of the late Olujimi Jolaoso’s properties in a suit marked FHC/L/AMC/29/2021 and the parties are; Asset Management Corporation Of Nigeria, Claimant/judgment Creditor, against Safequip Nigeria Limited; Marcelina Jolaoso and Bankole Jolaoso reads; “Upon this motion Ex-parte dated and filed, on the 16th day of March, 2021, Coming up before this Honourable for hearing and praying for the following Orders; “An order of the Honourable Court granting the Claimant/Applicant Possession of all properties, Movables and immovable comprises of Building, furniture, fitting, and any other Chalets, howsoever ‘described belonging to the Defendants, Safequip Nigeria Limited And or Mr, Olujimi Jolaoso (Deceased) described as follows: “All that property municipally known as 21 Festival Road, Victoria-Island, Lagos being the Mortgaged properly which the 1st Defendant and Mr. Olujimi Jolaoso (Deceased) placed as security for the repayment of the loan facility granted the’ 1st Defendant by FCMB an eligible Financial Institution which non-performing loan was duly purchased by the Claimant under the enabling Act and subject of the Judgment of His Lordship I. N. Buba (Judge) dated 10th day of June, 2015
“An order directing the, Nigeria Police Force, the Inspector-General of Police and The Commissioner of Police Lagos state} to assist the Bailiffs and or Deputy Sheriff of this Honourable a Court to enforced the Orders made by the Honourable Court pursuant to Section 4 of the Police Act and Section 287(3) of the Constitution of the Federal Republic of Nigeria, 1999 (as amended) and arrest and bring before the Federal High Court any perion who disturbs, the execution of the ex-parte Order herein granted or disturb the Officers, agents, Privies and assigns of the Claimant in their occupation of the premises or performance of their duties or to ‘reenter the property or tamper with any, assets, covered by the Order of the Court
“And for such further order or such orders as the Honourable Court may deem fit to make in the circumstances of this suit Ibijus, Ibiremedum
“Upon reading through the Motion, its Affidavit of 21 paragraphs deposed to by Mr. Okwudili Ikegwuonu, Nigerian Citizen, an Enforcement Officer with the Asset) Management. Corporation of Nigeria (AMCON)a Nigerian of No 67 Marina, Lagos With attached exhibits and a written Address signed by Aloysius Ezenduka Esq all filed at the Court Registry, Ikoyi Lagas.
Justice Aneke after hearing counsel to AMCON Aloy Ezenduka granted the order of possession and directed as follows;
“It is hereby by order as follows:
that an order of this, Honourable Court is made granting the Claimant/Applicant possession: of that properties, movable, and immovable comprising of Building, Fixtures, and fitting and any other Chalet howsoever described belonging to the Defendants, e.i SAFEQUIP NIGERIA LIMITED AND OR MR, OLUJIMI JOLAOSO (Deceased) described as follows:
“All that properties municipally known os 21 Festac Road, Victoria Island, Lagos: being the Mortgage property which the 1st Defendant and Mr. Olujimi Jolaoso (Deceased) placed as security for the rapayment of the loan facility granted the 1st defendant by FCMB an eligible financial institution which non-performing loan was duly purchased by the Claimant under the enabling Act and subject of the Judgment of His Lordship I. N. Buba. (Judge) dated the 10th day of June 20 2015.
