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​​AMCON, Police, Court Officials Storm Best Western Hotel In Lagos

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The officials of Assets Management Corporation of Nigerian (AMCON), Police and officials of Federal High Court in Lagos yesterday stormed Best Western Hotel located in Ikeja area of the state to take over the management of the hotel.
Our correspondents learnt the hotel said to belong to Suru Worldwide Ventures Nigeria Limited was earlier visited by AMCON officials on 30th of August 2017, in an attempt to seal off and take over the management of the hotel for allegedly owing Oceanic Bank (now Ecobank) the sum of N13.4 billion.
Commenting on the development, the Group Managing Director Of Suru Ventures, Mr. Edward Akinlade, explained that officials of the Asset Management Corporation of Nigeria (AMCON) had first stormed the Hotel before yesterday.
He explained that AMCON in 2011 took over the company’s performing loan in Oceanic Bank and the Bank was sued for selling the loan, saying in accordance with the Law, AMCON can only takes over a non performing loan.
“We sued Oceanic Bank for N39 billion for mismanaging our account, AMCON now took us to court before Justice Idris who dismissed the case on the basis that it was a performing loan, AMCON now needs to go on appeal but it did not, instead joined the case with Oceanic Bank, and the case has been going on for six years we have sued Oceanic Bank since 2011, so we are still on the matter.
AMCON decided to join the case as codefendants, the last time that case came up in court was about a month ago”, he said.
“They have been sitting on this Judgment since last Wednesday and we were not invited as defendants. This AMCON take-over is illegal, we were still waiting to go back to court on October 3rd, 2017 for a case we filed against AMCON at the Federal High Court.”
In a swift response, the AMCOM, Head of Communication, Mr. Jude Nwaisor, said the company had owed Oceanic Bank the sum of N27billions and only paid just N1.7b since then.

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