Court orders interim forfeiture of BCDA  Executive Secretary’s Assets 

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Court orders interim forfeiture of BCDA Executive Secretary’s Assets
A Federal High Court sitting in Kaduna has ordered the forfeiture of the property of the Executive Secretary of Border Communities Development Agency, Captain Junaid Abdullahi, situated at Jabi Road, Kaduna.

This is contained in an Order brought before the court via Motion Ex-parte dated September 27, 2019, in a Suit No. FHC/KD/CS/76/2018 between Asset Management Corporation of Nigeria and First Aviation Limited, Captain Junaid Abdullahi 1st and 2nd defendants.

The Order signed by the Presiding Judge, and Senior Register 1 of the Court Justice Z. B. Abubakar and MUBARAK Argungu respectively , stated that the property situated at No.7, Jabi Road, Kaduna by Certificate of Statutory Right of Occupancy No. KD/10914 and the property with Certificate of Occupancy No. LKN/RES/81/139 situated at No.6 Niger Street, Kano used as Security for the loan advanced to the Defendants by Intercity Bank Plc and Unity Bank Plc is hereby forfeited in the interim to the Plaintiff/Applicant pending the determination of the suit.

The Order also stated that the account maintained by the 1st Defendant with Keystone Bank, and another account maintained by the 2nd Defendant with Guaranty Trust Bank are hereby frozen pending determination of the suit.
“That the freezing/taking over of funds in any account belonging to the 1st and 2nd Defendant pending the determination of the suit is hereby granted.”

The motion ex-parte was brought before the court by Asset Management Corporation of Nigeria, Plaintiff/Applicant in which First Aviation Limited is the 1st Defendant, and Captain Junaid Abdullahi is the 2nd Defendant.

The debt for recovery from the 1st and 2nd defendants is N315,489,577.77 made up of principle debt and accrued interest.
“An order of this Honourable Court granting interim possession and custody of the properties situated at No.7, Jabi Road, Kaduna, covered by Certificate of Statutory Right of Occupancy No. KD/10914 and the property and the property covered by Certificate of Occupancy No. LKN/RES/81/159 in the name of Alhaji Ahmed Hassan, located at No. 6 Niger Street Opposite Tropicana Hotel, Kano State, used as Security for the loan advance to the Defendants by erstwhile Intercity Bank Plc and Unity Bank Plc to the Applicants pending the determination of the suit pursuant to Section 49 of the AMCON Act, 2019 (as amended).”
The matter has been adjourned to December 4, 2019.

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