FHC Abuja Orders Takeover of ABC Orjiakor’s Asset Over AMCON Debt Dispute

Dr. A.B.C Orjiako, the Chairman of Seplat Petroleum Development Company Plc

Culled—Proshare

Saturday, August 31, 2019/News

The Federal High Court holden at the FCT Abuja has granted the Asset Management Corporation of Nigeria’s application to take over the assets of Dr. A.B.C. Orjiako. The order was given by Honourable Justice Taiwo O. Taiwo and issued on August 15, 2019. 

By this order, banks are mandated to henceforth prevent all further withdrawals of funds and other debit transactions from the defendants’ accounts domiciled with the banks. 

They are also expected to furnish the Receiver/Manager within seven (7) days from the date of the notice with comprehensive statements in respect of each accounts while the order is expected to be binding and enforceable against the banks.

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