Court orders AMCON to unfreeze NCC directors, others bank accounts

AFEDERAL High Court, Lagos has set aside an exparte order freezing the bank accounts of a member of the Board of the Nigerian Communications Commission ( NCC), Mr . Clement Omeiza Baiye, and two others companies, Verity Communications limited and V erity Associates Limited.

Justice Muslim Hassan vacated the order last weekend.

The suit was formerly before Justice Maurine Onyetenu before it was reassigned to Justice Hassan.

Justice Onyetenu had on June 16, 2020, granted an exparte interlocutory injunction brought by Asset Management Corporation of Nigeria ( AMCON) against Capital Consortium Limited ( 1st defendant) and 7 others over alleged N128, 975,094.04 debt.

Other defendants are Falobi Owolabi ( 2nd defendant), Clement Baiye ( 3rd defendant), Idris Bashir ( 4th defendant), Credence Assets Management limited ( 5th defendant), V erity Communications limited ( 6th defendant), Alidan Investments limited ( 7th defendant), and V erity Associates Limited ( 8th defendant).

Baiye was joined in the suit for being a Director of the Capital Consortium Limited ( first defendant) when the facility was granted to the company by the defunct Intercontinental Bank, while his companies were sued based on him being a substantial shareholder of the firms.

AMCON had through its counsel, Chris Eze demanded among other reliefs, the sum of N128, 975,094.04.

By the statement of claim, the above sum includes interest from the original loan of the sum of N49, 282,127, which were later purchased by AMCON.