AMCON seizes multi-billion assets belonging to directors of Deap Capital Plc over N1.6bn debt

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The Asset Management Corporation of Nigeria (AMCON) on Wednesday said it has taken over assets belonging to directors of Deap Capital Plc over a N1.6 billion debt.

A statement by the corporation said the decision followed an order of Justice C.J. Aneke of the Federal High Court, Lagos Division.

According to the statement, the asset belongs to 14 directors of Deap Capital Management and Trust Plc.

Deap Capital Management & Trust Plc is a financial services institution in Nigeria operating in the capital market, mortgage banking, and oil and gas sectors.

AMCON in the statement revealed that Justice Aneke made the ruling on January 18, 2021, and in compliance with the enforcement order, it went about putting logistics together for the operation.

“Justice Aneke made the ruling on January 18, 2021 & in compliance to the enforcement order, AMCON went about putting the logistics together. Yesterday, the Corporation took effective possession of the seven properties as listed by the Court through its DRA – Etonye & Etonye,” the statement said.

“The properties include property situate at Plots 14, 15, 16 and 17 in Block 1B, Isolo-Ishaga Area, Mushin, Lagos State; Mile 3 Old Isheri Road, Ikeja, Lagos State; Plot 13, Block 65 Magodo Residential Scheme, Lagos State; No. 73, Femi Kila Street, Okota, Isolo, Lagos.

“Plot 22, Block 91, Lekki Peninsula Residential Scheme, Lekki Area, Lagos; Government Land Allocation, Lekki Peninsula Scheme II, Lekki, Lagos State; and 2nd Avenue Estate Extension Ikoyi, Plot No. 11 Eti Osa LGA, Lagos State,” it read.

Deap Capital Management and Trust Plc on February 19th in a disclosure sent to the Nigerian Stock Exchange had announced the resignation of it’s board of directors.

The disclosure, signed by the firm’s secretary, Yetunde Hashesin-Souza, also announced the appointment of Anastasia Braimoh; Alhassan Sidi; and Gbemi Adekola into it’s Interim Management Team (IMT).

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