Babalakin protests inclusion of name in AMCON debt list

Posted by Grand News | 27 October 2018 | 732 times

Wale Babalakin

The Chairman of Bicourtney, Dr Wale Babalakin (SAN), has protested the inclusion of his name and companies in the Asset Management Corporation of Nigeria (AMCON) debt list.

According to their lawyer, Olawale Akoni (SAN) Dr Babalakin and his companies are not indebted to AMCON.

Akoni said his clients were not indebted to AMCON in any manner whatsoever contrary to AMCON’s claim in an advertorial.

He said sometime in 2012, AMCON alleged that Resort International Limited (N20bn), Bicourtney Limited (N20bn) and Roygate Properties Limited (N9bn) were indebted to it and that the Federal High Court in Abuja, on April 5, 2012, ordered that whatever debt was outstanding to any Federal agency by Bicourtney and companies related to it should be deducted from the sum of N132bn which the Federal Government owed Bicourtney Limited.

He lament while Bicourtney had a net judgment credit of N83bn and despite the court verdicts, AMCON had continued to publish his clients’ names as debtors.

Daily Trust

Source: Grand News

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