…..renovates property while case still in court
….. engages Mopol to carry out impunity –Akinlade
The Asset Management Company of Nigeria, AMCON, has been accused of flouting a court order by allegedly selling the private property, Best Western Hotel, Ikeja, Allen Avenue belonging to the management of Suru Group.
Recall that the hotel was forcefully taken over by AMCON security officers in 2018, despite court orders to ‘stay the continuing and or further execution of the said judgment’.
He, however, lamented that despite a pending appeal at the Supreme Court, AMCON in a letter dated September 2, 2020, said the firm’s property had been sold, saying that the agency had acted in flagrant breach of the law.
The Managing Director, Suru Group, Mr Edward Akinlade, noted that he was unaware of the renovation ongoing at the hotel, insisting it was illegal and actions not binging by law.
According to him, “I got a notice Lagos state government stating that the Ikeja property has been sealed. I was called by the Lagos state government asking why I removed the seal placed on the property against the order of Lagos state, and I told them I am not aware.
“The Sanwo Olu-led government went ahead and re-seal the property, but yet, AMCON moved to remove the seal again. As you can see, there are armed men on the premise while renovation is ongoing.
“This is a property that is under litigation at the Supreme Court level. I am surprise at the level of impunity displayed by AMCON. How can you renovate a property that is under legal assessment which is currently in favour of Suru Group? This is by law contempt of the court.”
“We are particularly dissatisfied with the blatant disregard of the rule of law been displayed by a highly revered agency such as AMCON, and Ahmed Kuru being a mechanism in the temple of justice that ought to respect and uphold the tenets of law rather than disrespect the court”, he said.
“It started in 2010 when we were banking with Oceanic bank, now Ecobank. N13billion fund was canceled after we have drawn N10billion. About this time, we have already bought our properties in GRA, Opebi and Best Western. We were servicing our loan until our performing loan was sold to AMCON, which was not supposed to buy servicing loan.
“So we sued Ecobank for selling our loan, and this case is still at the Federal court
“AMCON counterclaimed our case and said we owed 26 million naira. It was later discovered that Ecobank had sold our loan to AMCON for 8.3 billion naira, without notifying us.
“You may wish to recall the subsisting judgment in Appeal No: CA/L/88/18; Suru Worldwide Venture Nigeria Limited & ANOR V. AMCON & 4 ORS; wherein the Court of Appeal allowed our appeal and set aside the judgment of the Federal High Court of Nigeria rendered in AMCON’s favour in suit no: FHC/L/CS/1059/16.
“AMCON is also not oblivious of the decision of the Federal High Court in suit no: FHC/L/CS/450/11: Between Suru Worldwide Venture Nigeria Limited V. Ecobank PLC & AMCON, wherein the honourable court dismissed AMCON’s claims of our alleged indebtedness. AMCON has also appealed to the Court of Appeal in Appeal no: CA/L/630/18, which is still pending”.
“We want it to be on record that we have never taken AMCON to court, this is because we believe we have no business with AMCON but the bank who sold our active loan to the agency.
“As we speak, all the cases we had and won, were filed by AMCON and the 3 different suits were all won by Suru Group. AMCON has currently exalted the matter before the Supreme Court.
“So, when AMCON wrote the letter on September 2, 2020, stating that our Ikeja GRA property has been sold, we wonder under what power as AMCON has no power to sell a property that has been sealed by the court.”
Akinlade, however, called on the management of AMCON to obey the court order, saying that its action had grounded its hotel and asked it to evacuate policemen that were deployed to its hotel.
He lauded the judiciary arm of the government for its unbiased judicial conduct and implore the general public to remain law abiding.
AMCON Snubs National Assembly’s Invite
Worried by the speed at which AMCON has continued to seize his property, Mr. Akinlade was forced to petition the National Assembly to seek protection and settlement.
The matter which is now before the House of Representatives Committee on Public Petitions, appears to be facing the same fate as AMCON has refused to honour the invitation.
“Twice the House Committee has invited us. Twice AMCON has failed to appear, offering one form of excuse or another. However, I know that it is an attempt to frustrate the hearing but I will not give up.
“My worry is that when an agency created by an Act of Parliament begins to snub the institution that birthed it then there is cause for alarm as the country may be heading for a state of anarchy,” he said.
He, however, assured that he was committed to getting justice, adding that he would not allow his company to suffer the fate of many other innocent ones whose life has been terminated due to what he called criminal attempt by AMCON and of its collaborators to frustrate genuine entrepreneurs.
The question consistently bothering the enlightened mind is, ‘Why would AMCON sit on a legal business as well as threaten profitable and viable establishments like Suru Worldwide Limited?
There is no gainsaying that the Federal Government and all other relevant authorities should wade into the crisis to save the legitimate businesses aswell as the economy.