N537m: Court orders AMCON, UBA to seize Donald Duke’s property

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The Asset Management Corporation of Nigeria and United Bank for Africa are set to take over an Ikoyi, Lagos property of a former governor of Cross River State, Mr Donald Duke, over an alleged debt of N537,334,360.77.

This comes after the ruling made by Justice Chuka Obiozor, of the Federal High Court in Lagos on August 8, 2019.

The applicants had prayed the court for “an order of interim attachment, possession, and custody of the property being No. 3, Temple Road, Ikoyi, Lagos.”

They told the court that the property was mortgaged by Duke “as collateral in securing the 1st respondent’s indebtedness to the applicants.”

The judge ordered AMCON and UBA to ensure service of substantive originating processes on the respondents within 20 days of the making of the order.

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