The Asset Management Corporation of Nigeria (AMCON) has said it has appointed a receiver/manager over "the entire undertakings, stocks, goodwill, plant and machinery, moveable and fixed assets," of Fiogret Limited.

The corporation also urged banks and other financial institutions currently in custody of deposits and other assets of Fiogret's to hold on to them until further derivatives from Receiver/Managers.

It said its decision to appoint Kunle Ogunba (SAN) as the receiver of Fiogret assets was in line with a deed of mortgage debenture dated February 1, 2008 registered at the Corporate Affairs Commission (CAC).

AMCON said the deed of appointment of the receiver dated November 2, 2012 has equally been registered with the CAC.

It listed some of the company's properties now in possession of the receive/manager to include 43, Norman Williams Street, off Awolowo Road, Ikoyi, Lagos; Plots 230-234 Ikorodu, Owutu-Ikorodu, Lagos; Plot 15 Layi Ajayi Bembe Street, Parkview Estate, Ikoyi, Lagos; Etete Road, off Benin-Sapele Road, Benin City and East West Road, Rumuokwurush Obio/Akpo Local Government Area, Rivers State.

AMCON, in an advertorial dated March 1, 2013 and signed by Ogunba, urged all debtors to Fiogret to pay directly to the receiver/manager. The company's creditors are also to send proof of claims to Ogunba within 14 days of the publication of the advertorial in newspapers. It urged all banks and other financial institutions currently in custody of deposits, cash and other assets of Fiogret to continue to hold them until the receiver/manager issues further instructions "in accordance with the pre-emptive orders of court in suit: FHC/L/CS/63/2013 pending within the bossom of the Federal High Court, Lagos division.

"All holders of such deposits should contact the receiver/manager, stating the balance and where secured facilities are granted, the type of security attached should be disclosed," AMCON said.