Why FG, AMCON must pay N132bn to Bi-Courtney, Babalakin

After yet another victorious outing against the Asset
Management Corporation of Nigeria, AMCON, at the Court of
Appeal in Lagos, Wednesday, Bi-Courtney Limited has
explained why AMCON and the Federal Government must pay
N132 billion damages as earlier ordered by a court.
*Babalakin
Demanding AMCON’s compliance with the order of Justice
G.K. Olotu of the Federal High Court, Abuja, on April 5, 2012,
in the suit number: FHC/ABJ/CS/50/09, in a statement
yesterday, the Chairman of Bi-Courtney Limited, Dr. Wale
Babalakin, explained how AMCON had allegedly attempted to
take over the assets of his companies; how the agency had
failed to obey a court order to pay N132 billion damages, and
how it had deliberately misinformed the public about the facts
of the issues.
Paragraphs three and four of the order stated: “An order
directing the defendant/respondent (Attorney General of the
Federation), being the Chief Law Officer and legal
representative of the Federal Government and all its agents/
agencies, including the government institutions and bodies
responsible for the payment of the sum due to the applicant,
to mandatorily compel the said government institutions and
bodies to immediately comply with the judegment of this court
by making without any further delay the payment of
N132,540,580,304.00 to the Plaintiff/Applicant in fulfilment of
the aforesaid order of this court.
“An order directing the defendant/respondent, being the Chief
Law Officer and legal representative of the Federal Government
to set off from the above-mentioned amount any claims
agreed with the Plaintiff/Applicant to be due from the Plaintiff/
Applicant to any agency of the Federal Government, including
but not limited to the AMCON.’’