Nwankwo Kanu’s accounts frozen by court over unpaid N924m loan

Posted by: b3rrilyn in News Dec 12, 2015

A Federal high court sitting in Lagos has ordered that all accounts belonging to former captain of the Super Eagles, Nwankwo Kanu and his company, The Hardley Apartments in Nigeria should be frozen pending the hearing of a suit filed against him and his company.
This is in a bid to recover a debt of N924,788,754.56,filed by Asset Management Corporation Of Nigeria(AMCON) .
In an affidavit sworn to by a Credit officer in the Directorate of AMCON, Mr Victor Igabor claims that sometime between May, 2008 and 10 January, 2011 Skye Bank offered The Hardley Apartments engaged in business of hospitality located in Victoria Island, Lagos, a loan of N520,457,000.Also affected by the order of the court is a Director of Hardley Apartment, Ayoola Gam-Ikon..
The defendants failed to repay the loan with the accrued interest despite repeated demands.
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 .
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.

The court also freezed 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.
PMNews