Nigeria: N50 Billion Debt - Amcon Asks Court to Restrain Babalakin From Dissipating Assets

3 October 2014

The Asset Management Corporation of Nigeria (AMCON) has asked a Federal High Court in Lagos to restrain Chairman of Bi-Courtney Group, Dr. Wale Babalakin, from dissipating assets of Bi-Courtney Group pending its appeal against the decision of the court.

Justice Ibrahim Buba had on Monday vacated an order made by his brother judge, Justice Okon Abang empowering AMCON to take over the assets of Bi-Courtney Group over an alleged N50 billion debt.

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