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Court Freezes Accounts Of Popular Business Mogul Over N1.7bn AMCON Debt

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Court Freezes Accounts Of Business Mogul Over N1.7bn AMCON Debt

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A Federal High court sitting in Kaduna has granted an order to freeze all bank accounts linked to a Kaduna based business mogul, Alhaji Bawa Garba of ABG Communications, and Engr. Mohammed Bawa Garba, over alleged N1.7billion debt owed Asset Management Corporation of Nigeria (AMCON).

AMCON, which is the applicant in suit no. FHC/KD/AMC/1/2022, approached the Court in a Motion Ex-parte dated 28th March, 2022, praying the Court for an order for a Post No Debit (PND) on all accounts operated by the respondents/defendants pending the determination/disposal of the proceedings for the recovery of debt of N1, 738,704,474.01.

The applicant,through its lawyer, Barrister A.A Salisu, explained that the sum is made up of the Principal debt and accrued interest against the defendants pursuant to section 50 of the AMCON Acts, 2019 (as amended).

In the Motion ex-parte, the applicant also sought an order of the Honourable Court for a Post No Debit (PND) over any funds in any account linked to the BVN belonging to the 2nd and the 3rd defendants/respondents pending the determination/disposal of the proceedings for the recovery of the debt.

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The presiding Judge, Justice M.G Umar, having heard and read the affidavit in support of 26 paragraphs and 4 exhibits deposed by one Aminu Sada, granted the order of Post No Debit on all accounts linked to the 1st defendant pending the determination/disposal of the proceedings for the recovery of debt made up of the principal debt and accrued interest against the Defendants pursuant to section 50 of the AMCON Act, 2019 (as amended.

The order signed by the principal Registrar 1, Maryam Abdulsalam Esq. Also granted an Order of Post No Debit over any funds in accounts belonging to the 2nd and 3rd Defendants/Respondents pending the determination/disposal of the proceedings for the recovery of the debt made up of the principal debt and accrued interest against the Defendants/Respondents pursuant to section 50 of the AMCON Acts, 2019 as amended.

The Court also granted the order by the applicant seeking the said banks to file an affidavit before the Honourable court disclosing any amount in the name of the respondents/defendants and standing to their credits and any sum therein as of the date of service of the order of the court on the Banks.

The Judge therefore adjourned the case to 10th May, 2022 for hearing.

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