The Asset Management Corporation of Nigeria (AMCON) has taken over Sea Petroleum Oil and Gas Limited and other assets belonging Stella Oduah, senator representing Anambra North, over her inability to clear her N20 billion debt. AMCON said the takeover followed an injunction granted by M.S. Hassan of Lagos Federal High Court. In a statement by Jude Nwauzor, head, Corporate Communications, AMCON said it purchased the Eligible Bank Assets (EBAs) of the company from Union Bank in 2012. The statement said the court also ordered the freezing of the funds of the…
Read MoreN20 MILLION DEBT; AMCON TAKES OVER STELLA ODUAH’S ASSETS
