Court Orders Nwankwo Kanu Accounts Frozen Over Unpaid N924m Loan
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| Nwankwo Kanu, former Super Eagles captain |
In a bid to recover a debt of N924,788,754.56, a Federal high court
sitting in Lagos, western Nigeria, has ordered that all accounts
belonging to former captain of the Super Eagles, Nwankwo Kanu and his
company, The Hardley Apartments anywhere and in any bank or financial
institution in Nigeria should be frozen pending the hearing of a suit
filed against him and his company.
Also affected by the order of the court is a Director of Hardley Apartment, Ayoola Gam-Ikon.
The order of the court was as a result of a debt recovery suit filed by
Asset Management Corporation Of Nigeria(AMCON) against the defendants.
In an affidavit sworn to by a Credit officer in the Directorate of
AMCON, Mr Victor Igabor, and filed and argued by Barrister Niyi Olopade,
the deponent averred that sometime between May, 2008 and 10 January,
2011 Skye Bank offered The Hardley Apartments engaged in business of
hospitality located at Plot 46, Waziri Ibrahim Crescent, Victoria
Island, Lagos, a loan of N520,457,000.
The loan was secured by a mortgage on the company’s three blocks of
forty accommodation units with estimated open market value of N395
million as well as unconditional personal, joint and several guarantee
of Ayoola Gam-Ikon and Nwankwo Kanu.
The defendants failed to repay the loan with the accrued interest
despite repeated demands, consequent upon which Skye Bank Plc assigned
the defendants indebtedness in the sum of N558,313,905.37 as at 1 April,
2011 to the AMCON as a toxic bank asset in line with the establishment
objective of the said AMCON.
Mr Igabor averred further that, this development was communicated to the
defendants by Skye Bank who admitted their indebtedness but praying
that the assignment to AMCON be revoked.
The defendants’ indebtedness as at the 15th October 2015 stood at
N924,788,754.56 representing principal and interest while interest is
still running.
Consequently, Igabor contended that The Hardley Apartments is in the
process of being dissipated, therefore if the application is not
granted, Ayoola Gam-Ikon and Nawankwo Kanu could dissipate the assets of
the company. It therefore urged the court to issue an interim order of
taking custody of all movable and immovable properties known as Plot 46,
Waziri Ibrahim Crescent, Victoria Island, Lagos.
It also sought an order attaching the debt due from The Hardley
Apartments as well as debts accruing from the defendants jointly and
severally and freezing all accounts belonging to the defendants jointly
and severally in any bank or financial institution in Nigeria.
The presiding judge, Okon Abang, while acceding to the request of AMCON,
ordered that AMCON shall in the interim possess all the movable and
immovable properties known as Plot 46, Waziri Ibrahim Crescent, Victoria
Island, Lagos.
That in the interim the debt due or accruing from The Hardley Apartments
as well as the debts accruing from the defendants jointly and severally
and freezing all accounts belonging to the defendants jointly and
severally anywhere and in any bank and any financial institution in
Nigeria are hereby attached pending the hearing of this suit.
The matter has been adjourned for hearing.
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