N12.9bn debt: AMCON clears air on Victory Park Estate
The Assets Management Corporation of Nigeria (AMCOM) has said that it did not flout any law in taking over several multi-billion properties in Victory Park Estate in Lekki, Lagos, following a N12.9 billion judgment debt it won at the Court of Appeal.
The corporation also said it was applying human face in the implementation of the judgement by trying to reach amicable resolution with property owners affected by the judgement.
Daily Trust reports that AMCON had on
All is set for the investiture of Mr. Kunle Awobodu as the 20th President of the Nigerian Institute of Building (NIOB).
The institute had at its 49th Builders’ Conference/Annual General Meeting in August, 2019, in Port Harcourt, Rivers State, elected Mr. Awobodu as its 20th president.
NIOB General Secretary, Mr. Christopher Belonwu,
The Independent Corrupt Practices Commission (ICPC) and the Nigerian Institute of Quantity Surveyors (NIQS) have entered into a partnership to evaluate executed constituency projects by members of the National Assembly.
Last week, President Muhammadu Buhari said there was little to show for over N1tn budgeted for constituency projects of National Assembly members in the last 10 years.
The president, who indicted the legislators while speaking at a national summit on: “Diminishing Corruption in the Public Service”, in Abuja, disclosed that a report had confirmed government’s fear that constituency projects did not get to the ordinary people as initially envisaged.
June, 2019, taken over the properties which included assets of Knight Rook Limited situated within Victory Park Estate.
AMCON’s move followed the dismissal of an appeal filed against an October 3, 2017 judgement of a Federal High Court in a suit marked FHC/L/CS/744/17 Asset Management Corporation of Nigeria V. Knight Rook Limited & Ors.
Addressing a press conference at the weekend, Partner, Matrix-Solicitors LLP, Mr. Jide Olasite, counsel to AMCON, said the takeover of the properties in the estate said arrangements had been concluded for the investiture ceremony to hold at 06:00pm on Thursday, November 28, 2019, at the International Conference Centre, Abuja.
Mr. Belonwu said NIOB was the only training and professional body for builders in Nigeria as recognised by the regulatory body, the Council of Registered Builders of Nigeria (CORBON), which was
The partnership between NIQS and ICPC is to enable the professional costing and valuation of the executed projects to ensure that government gets value for money spent.
Speaking to reporters in Lagos, the immediate past President of NIQS, Obafemi Onashile, said, “A politician is saying an overhead tank cost N200m. Accountants was in line with the order of the Court of Appeal which awarded it a N12.9bn judgement.
Mr. Olasite stressed that going by the N12.9bn judgement it obtained from the Federal High Court in October, 2017, as affirmed by the Court of Appeal on June 3, 2019, AMCON owned the properties in Victory Park Estate 100 per cent.
He said, “As of today that property belongs to the Federal Government of Nigeria because the court has said so. Those facts are never going to change. What can change it is the people engaging with AMCON to resolve the issue.” established by Decree 45 of 1989, now ACT CAP B13 FLN 2004.
He further said, “The investiture event will, therefore, be a forum for stakeholders in the building environment to reaffirm their commitment to the promotion of standard building construction that will ensure safety in our environment and save the government from the huge resources being expended on building collapse rescue operations.” can agree and process, but quantity surveyors have a cost database to benchmark any construction.
“We are doing this as an independent assessor, virtually probono. We have gone into this agreement to work as professionals; not as contractors.”
He said the partnership was based on the request of the ICPC and the institute.