Firm Seeks N23bn Compensation from AMCON over Alleged Illegal Conversion of Property

Suru Worldwide Ventures Limited, owners of Best Western Hotel, Allen Avenue, Ikeja, Lagos, has demanded special damages in the sum of N23 billion against the Asset Management Corporation of Nigeria (AMCON) over the alleged unlawful continuing disruption/ damage done to Best Western Hotel.

The firm is equally asking

AMCON to pay it general damages in the sum of N5 billion for what it termed the deep-rooted and continuing disruption/damage done to Best Western Hotel’s business, personal reputation and standing in the business community, and conversion by taking and/or wrongful interference with goods and unlawful detention thereof.

The company is further demanding that AMCON pays it a sum to the tune of N150 million as the cost of initiating the legal action.

Suru Worldwide Ventures Limited in a pre-action notice dated January 11, 2024, and signed by its lawyers, Layi Babatunde (SAN) and David Owoeye, posited that unless there are immediate steps to stop the further dissipation of their client's properties they shall be left with no alternative than to institute a claim.

“We act as solicitors to Suru Worldwide Ventures Ltd and Mr Edward Akinlade of 2, Shany way, Off Shonny Highway, Shonibare Estates, Maryland, Ikeja, Lagos (hereinafter where applicable referred to as clients) and it is on their instructions that we write to you.

“You will also recall that on the 22nd of September 2017, at about 4:30 a.m., in the dark hours of the morning, your agents accompanied by heavily armed men, under the guise of enforcing a court order obtained behind our clients in suit no. FHC/VCS/1059/2016: AMCON V. IGP & 3ors, stormed our client’s hotel premises (known as Best Western Hotel) at No. 12, Allen Avenue, Ikeja, Lagos, ” it said.

The Apex court will this week Friday, February 16 deliver a ruling in the civil application.