Challenging Days For Kogi-Born Oil Mogul, Omokore

All that Olajide Omokore has worked for risks going down the drain right before his eyes as the Federal High Court in Ikoyi, Lagos, has ordered the Asset Management Corporation of Nigeria (AMCON) to take over some properties belonging to him over an unpaid N29bn debt.

The judge gave this order following the alleged refusal of Omokere and his company to pay AMCON their admitted sum of over ₦15bn out of the total outstanding debt of ₦29bn owed.

According to the corporation, assets belonging to Cedar Oil and Gas Exploration and Production Limited have now been taken over by AMCON.

The properties include Block A, No. 46 Gerrard Road, Ikoyi, Lagos State, comprising of 26 flats; Plot 1236, River Niger Street, off River Benue Street, Maitama, Federal Capital Territory, Abuja; as well as Marion Apartment, Block 8, No. 4 & 5, Onikoyi Estate, Banana Island, Lagos State, consisting of 43 units of apartments.

AMCON is also in possession of No. 33A, Cooper Road, Ikoyi, Lagos State; No. 8, Gerrard Road, Ikoyi, Lagos State, as well as Manson Apartments, No. 6, Gerrard Road, Lagos State, comprising of 60 units of three-bedroom apartments.

Credit: Olushola Victor | The Nation

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