The Assets Managment Coproration of Nigeria (AMCON ) Monday, said refuted a news report by a national daily at the weekend concerning the demolition of a certain property at No. 27, Femi Okunnu Street, Ikoyi, Lagos, saying the purport of the story was a misrepresentation of not just facts, by a failure on the part of Mr. Babajide Koku, a Senior Advocate of Nigeria (SAN) to appropriately inform the Federal High Court, which is hearing the case.
AMCON said Koku did not disclose to Justice Faji that the property now belongs to Ehimome Properties Limited, a company a Corporate Affairs Commission (CAC) search revealed belongs to Mrs. Mary Ehimome Arumemi-Ikhide, Mr. Martin Arumemi-Ikhide and Dr. Margaret Omoemin Okonkwo (wife, son and daughter of the main promoter of Rockson Engineering Company Limited) as shareholders and directors of Ehimome Properties Limited.
“For the records, Sir Joseph I. Akinola Arumemi-Johnson and members of his immediate family own four companies that are indebted to AMCON to the tune of over N397billion, which AMCON bought over from various Nigerian banks. The companies include Arik Air Limited with debt of over N248billion; Rockson Engineering Company Limited over N136billion; Ojemai Farms Limited with over N11billion as well as Ojemai Investments Limited indebted with over N2billion.
The negative impact of this humongous debt to the Nigerian economy, which these companies and their promoters have refused to pay back are better imagined if the Federal Government did not set up AMCON to go after people whose indebtedness would be be hurting the economy of Nigeria. The referenced property on No. 27, Femi Okunnu Street, Ikoyi, Lagos is one of the many assets hidden from AMCON by the obligor but, which was eventually traced and sold as mandated by the AMCON Act as amended to recover for the country.