Jide Omokore
Jide Omokore

AMCON Takes Over Omokore’s Company     

Funsho Akinwale

The Federal High Court sitting on Monday granted the Asset Management Corporation of Nigeria (AMCON) application to take over Cedar Oil and Gas Exploration and Production Limited over a ₦29 billion debt.

Omokore is presently on trial over money laundering charges brought before the court by the Economic and Financial Crimes Commission (EFCC).

Apart from the debt issue, the embattled businessman and owner of Atlantic Energy Limited has also been linked with the former Petroleum Resources Minister, Diezani Alison-Madueke, who is also wanted by the anti-graft agency for corruption.

Justice C. J Aneke, while delivering his judgement, ordered AMCON to take possession of the assets of the firms over the debt.

Briefing newsmen on Monday, Jude Nwauzor, AMCON spokesperson, said the debt recovery agency has successfully taken possession of all assets of the company through the Receiver/Manager, Godwin Nwokoyo, who also received protective orders from the court.

Nwauzor, who confirmed the court order, disclosed some of the affected properties, including Block A, No. 46 Gerrard Road, Ikoyi, Lagos State, comprising 26 flats, and Plot 1236, River Niger Street, off River Benue Street, Maitama, Abuja.

Also included is Marion Apartment, Block 8, No. 4 & 5, Onikoyi Estate, Banana Island, Lagos State, consisting of 43 units of apartments.

Happenings Media