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N1bn debt: AMCON takes over assets of ex-minister, Ademola Seriki

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Following the order of Justice Chuka Austine Obiozor of the Federal High Court, Lagos, the Assets Management Corporation of Nigeria took over two properties belonging to a former Minister of State for Defence, Ademola Seriki, in Lagos and Abuja over an outstanding staggering indebtedness of nearly N1billion.

Jude Nwauzor, Head, Corporate Communications, AMCON, in a statement on Monday, November 18th said the properties were located at No. 1a & 1b, Jalupon Close, Surulere, Lagos and No. 4, Djibouti Crescent, a high-brow area of Wuse 2, Abuja.

He said the case between AMCON and Seriki ended up in court as all efforts made by the corporation to resolve the issue peacefully did not yield the desired result.

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