AMCON: Man gets justice after property was illegally seized

AMCON: Man gets justice after property was illegally seized

Saturday, May 7, 2022 7:43 pm

AMCON head office, Abuja

By Nehru Odeh

After what seemed like a miscarriage of justice, David Balogun, the owner of a property located at Ogudu GRA in Lagos finally got justice when a Federal High sitting in Lagos ordered Asset Management Corporation of Nigeria, AMCON, to pay him the sum of N500,000 for illegally executing a debt recovery order on his property.

The court gave the judgement in Balogun’s favour after he had dragged AMCON before it in 2021 over a strange debt recovery court order pasted on his property located at Ogudu GRA, Lagos in suit/no FHC/L/CS/ 74/ 2020 between AMCON and Charks Investment Ltd and others for which he is neither aware of nor a party to.

In his motion before the court, Balogun stated that AMCON had listed his property as part of assets owned by an embattled company, Charks Investment Ltd and deceived the court into making an order for the seizure of the property.

Balogun maintained that he is neither a director of the said company nor has ever obtained loan for business and urged the court to set aside its earlier order.

In its counter Affidavit, AMCON however stated that it took reasonable steps to locate the properties of its debtor Charks Investment Ltd and believed that the said property at Ogudu, GRA, Lagos belonged to the company.

In a ruling reversing its earlier order, Justice Daniel Osiagor condemned the brazen and reckless manner with which the order was executed on Balogun’s property and ordered AMCON to pay him N500,000 as cost.

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