The Asset Management Corporation of Nigeria (AMCON) said it had taken over assets belonging to Aeroland Travels Limited, and its directors over indebtedness of N1.8bn.

Punch reports that a statement from AMCON spokesperson, Jude Nwauzor, said this was sequel to the order of Honourable Justice D.E. Osiagor of the Federal High Court, Lagos Division.

The properties include those situated at Plot 4 & 4B Block 66 Magodo Scheme, Lagos State; Plot 9, Block 44c, Adetoro Adelaja Street, Magodo Lagos; No. 4C Maye Ogundana Street, Magodo Lagos; No. 10 Oluyomi Oshinkoya Street, Magodo Residential Scheme, Lagos; Plot 8, Block 66, Residential Scheme, Sangisha, Lagos; No. 2A John Olugbo Street, Ikeja, Lagos; No. 2 Fadeyi Street, off Awolowo way, Ikeja, Lagos; No. 8 Surulere Alelor Street, Millenium, Gbagada; and No. 14 Jerry Iriabe Street, off Bashorun Okunsanya, off Admiralty Road, Lekki Penisula.

The Court also ordered the freezing of the bank accounts and shares of the company’s directors including Mr Segun Adewale and Mrs Victoria Adewale. The Court additionally granted AMCON rights to seize any other landed property in any other place that may be found within the jurisdiction of the Federal High Court belonging to Aeroland Travels Limited or either of its directors.

Nwauzor said all the property as listed in the court order had been taken over by AMCON with the assistance of court bailiffs and other officials of the law.

“Until the coming of the order of the court, all previous efforts by AMCON and its representatives to resolve the debt amicably with the obligor had proved abortive, which was why the corporation resorted to the court for justice”, Nwauzor said.