The Assets Management Company of Nigeria, AMCON early on Thursday morning took over all assets Silverbird Group, an entertainment conglomerate owned by one of the most popular Nigerian Senators, Ben Bruce.
Companies under the group in Lagos, Port Harcourt and Abuja were sealed with the help of large contingent of policemen who also stopped entrance and exit into them on Thursday morning over unpaid debts.
The Silverbird Television owned by the group has stopped broadcasting, it was observed this morning.
It was learnt that guests billed for appearance in the breakfast programme of the television station were not allowed into the premises of the broadcasting outfit.
Premium Times reports that the companies affected by the takeover are Silverbird Galleria Limited, Silverbird Promotions Limited, and Silverbird Showtime Limited.
The newspaper also reported that AMCON had, by notice of appointment dated April 18 appointed Muiz Banire as Receiver/Manager over the sprawling assets of the three companies located at 133 Ahmadu Bello Way, Victoria Island, Lagos, Plot No 1161 (Silverbird Galleria); Central Area Cadastral Zone AOO, Abuja; and Abonnema Wharf Road and Abali Park in Port Harcourt City of Rivers State.
Justice Cecilia Olatoregun-Ishola of the Federal High Court, Lagos, had on June 17 granted application filed by AMCON allowing the Receiver/Manager to take possession of the said properties.
AMCON said the company was owing it the sum of N11 billion in unpaid debt.
Bruce was said to have used his companies sometimes to borrow various sums of money from the Union Bank of Nigeria Plc and refused to pay back, according to AMCON, reports Premium Times.
“The said loan was purchased by AMCON in 2011 after the capital base of Union Bank was terribly shaky,” the newspaper said quoting Kunle Adegoke, counsel to the Receiver/Manager.
Senator Bruce has not reacted to the development.