Asset
Management Corporation of Nigeria (AMCON), at the weekend, took
possession of Afrijet Airlines Limited and its other related assets in
Lagos over unpaid N10 billion debt.
The action was in line with a court order by Justice Chuka Austine
Obiozor of The Federal High Court Lagos Division, that granted an
interim injunction against Afrijet Airlines Limited, owned by Chief
Vitalis Ibe, over the N10b debt.
Head of Corporate Communications, AMCON, Jude Nwauzor, in a statement,
said that the company had since appointed Prof. Gbolahan Elias (SAN) as
Receiver/Manager of the seized assets.
A director in Afrijet, Alhaji Mohammed Tukur confirmed the
development, saying they were resolving the matter with the agency.He
said the matter, which comes up on Friday in court, would help to
resolve the issues.
The court order mandated the Receiver/Manager to also take over on
behalf of AMCON and any other offices, branches, stores, warehouses,
factories of Chief Ibe and his companies located and/or traced for the
purpose of satisfying the indebtedness.
Justice Chuka Austine Obiozor, the presiding judge, while granting
the order on the application of Prof. Gbolahan Elias (SAN), counsel to
AMCON, restrained Ibe and his companies, directors, agents, servants
and/or privies from operating, withdrawing from or otherwise tampering
with the funds belonging to and/or deposited in any of his bank accounts
under whatever name or guise in any bank or financial institution in
Nigeria. Chief Ibe who would not repay the huge debt owed the
Corporation has been in protracted negotiations with AMCON.
The court therefore ordered the Inspector General of Police,
Assistant Inspectors General of Police, and the Commissioner of Police
in charge of Lagos State, its Deputy and all other Police Officers under
them to assist Prof. Gbolahan Elias, SAN, the Receiver/Manager and the
bailiffs of the Federal High Court in the enforcement of the orders of
the Court. No incident was recorded during the enforcement exercise.
It would be recalled that the Nigerian government set a deadline of
April 30, 2007 for all airlines operating in the country to
re-capitalise or be grounded, in an effort to ensure better services and
safety.
To deal with the situation, however, the Kuru-led AMCON recently
increased the tempo of its recovery activities, using firmer negotiation
strategies as well as utilizing the special enforcement powers vested
by the AMCON Act to compel some of its recalcitrant debtors especially
those that are politically exposed and business heavyweights to repay
their debts.
Afrijet Airlines formally operated from the NAHCO Building on the
grounds of Murtala Muhammed International Airport in Ikeja, Lagos. At
some point in the history of the airline, it also operated regional
cargo operations and high profile security flight schedules in the
Democratic Republic of Congo.
The airline later moved to its corporate headquarters in Opebi,
Lagos, which was one of the assets AMCON took over. Afrijet Airlines
still maintains an aviation maintenance shop with its sister company,
Elite Aviation.
SOURCE THE GURADIAN
