By Emmanuel Udom
The stage is set, the die is cast. Civil Liberties Organization, CLO, and the management of Peace Global/Peace Hotels Limited, Omole State, Lagos, are presently waging what seems to be a fierce legal battle.
It seems to be a straight battle between CLO and the hotel management on one hand and Asset Management Corporation of Nigeria, AMCON and Wema Bank PLC on the other.
Fact checks reveals that the issue has to do with a N178milllion loan granted to Peace Global/ Peace Hotels Limited by WEMA bank in 2004, to roll out wired network in Omole Estate, Phase 1, 2 and its environs, which was destroyed by thunder storm, two years later.
But, in a press statement issued and signed by Kenny Bakare, and Enitan Joseph, chairman and secretary respectively of CLO and made available,, it was stated that Barrister Oreye Udo, managing director/chief executive officer of the company complained to CLO about how AMCON went to obtain an ex-parte order from an Abuja court to take over his properties at Omole Estate, when the matter of the exact quantum on debt owed by his company, Global Satellite Communication Limited, is on appeal at the Supreme Court.
According to CLO, independent fact-checks showed that in 2004, the company loaned N178million from WEMA bank, and paid back N162million with a balance of N16million, before thunder storm truncated the networking project, even as Wema Insurance Brokers failed to process the thunder storm claims, while attempting selling the collateral used in securing the loan without following due process, which compelled Global Peace to go to court to seek redress.
However, Wema bank upon the creation of AMCON misrepresented the asset management company into believing that Peace Global has a balance of N240million instead of N16million to pay and based on this AMCON bought the loan for N123million in 2012.
But, the padding was eventually discovered by Peace Global and a petition was sent to the asset management company, alleging false misrepresentation of figures, Barrister Oreye Udo confirmed in the press statement.
He further explained that AMCON was created in 2010 by the federal government to be a key stabilizing and re-vitalizing tool aimed at efficiently resolving non-performing loan assets of banks in Nigeria.
Unfortunately, his issue with Wema bank was eventually brought to the attention of the asset management company on June 30, June 2012, even as a bailiff of the Federal High Court Sheriff on July 24, 2020, brought a court order issued by a Federal High Court, Abuja, which was obvious that the ex-parte for possession of properties was not appropriately obtained and executed, hence it was invalid, and fraudulent.
CLO also said that despite the many fundamental flaws, Barrister Oreye, his wife and children were dehumanized, humiliated and traumatized by AMCON locking up the gates of his business and residential premises and writing Possession Taken Today by Court Order in Suit No: FHC/ABJ/156/2020 in Receivership by AMCON, even as eight AMCON security operatives were deployed to the business and residential premises the Peace Global boss keep him and his family under close tap.
CLO is however calling on President Muhammed Buhari, the senate president and the speaker of the House of Assembly as well as the inspector-general of police to prevail on AMCON, led by Ahmed Kuru, who has been prevailed upon many times to right all wrongs in the deal without success to recall his security operatives stationed at the properties and resident of Oreye, or be prepared for a more coordinated legal battle.