N1.6bn debt: Court freezes accounts of Rainoil, others

A Federal High Court in Lagos has ordered the freezing of bank accounts and shares belonging to downstream oil and gas company, Rainoil Limited, and 13 others over a N1.6bn debt.

The 13 others affected include David Ogwu, Anthony Ezeh, Clara Rotzler, Vincent Otiono, Vincent Sankey, Victoria Alo, Preye Ogriki, Treasure Afolanyan, Chief Nwagwu, Peter Ololo, Gordons Ejikeme, Joe Idudu and Falcon Securities Ltd.

The Asset Management Company of Nigeria said this in a statement titled, ‘AMCON Seize Assets of Deap Capital Directors over N1.6bn Debt’ on Wednesday, adding that the order to seize the assets was given by Justice C.J. Aneke.

AMCON said following the order, it took effective possession of the seven properties as listed by the court through its Debt Recovery Agent – Etonye & Etonye.

Some of the properties include 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 State; Plot 22, Block 91, Lekki Peninsula Residential Scheme, Lekki Area, Lagos; and Government Land Allocation, Lekki Peninsula Scheme II.

The statement read, “The court also ordered the freezing of the Bank Accounts and shares of the company’s directors namely: David Ogwu, Anthony Ezeh, Clara Rotzler, Vincent Otiono, Vincent Sankey, Victoria Alo, Hon. Preye Ogriki, Treasure Afolanyan, Chief Nwagwu, Peter Ololo, Gordons Ejikeme, Joe Idudu, Falcon Securities Ltd and Rainoil Limited.”

AMCON spokesperson, Jude Nwauzor confirmed that all the property as listed by the court order had been taken over by AMCON with the assistance of court bailiffs among other officials of the law. Punch