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AMCON flays Kanu Nwankwo over Seizure of Property

The Asset Management Corporation of Nigeria, AMCON, on Monday debunked reports that it illegally seized a property belonging to former Nigerian football star, Nwankwo Kanu.

The agency in a statement on Monday described the allegations as ‘inaccurate’ accounts of the details of the controversy regarding the huge debt of the promoter of The Hardley Apartments, Mr. Nwankwo.Mr. Nwankwo had earlier raised an alarm over the fate of his property which has been put under the temporary possession of AMCON by an ex parte order of a court on account of indebtedness.

In a statement issued in Lagos, Mr. Nwankwo accused AMCON of inducing the protracted nature of proceedings “due to their refusal/inability to obey specific order of court to provide the full statements of accounts, by which they came to the position of the purported indebtedness.”

But AMCON on Monday said it is not in the habit of joining issues with obligors on the pages of the newspapers especially when the matter is in court because, ”it is at all times guided within the confines of the law and would continue to act accordingly.”

“The general public is hereby informed that these stories are brazen falsehood meant to mislead the public on the true position of the Nwankwo Kanu’s massive indebtedness to the Corporation,” Jude Nwanzor, AMCON’s spokesperson said in his statement.

“We also want to put on record that having exhausted all avenues of peaceful resolution as a result of the huge debt, AMCON in 2015 obtained an order from the Federal High Court, which gave the Corporation permission to take possession of The Hardley Apartments located at No. 46 Waziri Ibrahim Crescent, Off Elsie Femi – Pearse Crescent, Off Adeola Odeku Street, Victoria Island in Lagos State.
Kanu Nwankwo

“This order still subsists, pending the determination of the substantive matter.”

The corporation urged the public to disregard the “misrepresentations as we await the pronouncement of the court on the matter.”

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