A Federal High Court in Abuja on Thursday berated the Asset Management Corporation of Nigeria for obtaining an order to seize houses belonging to one Senator Buhari Abdulfatai over alleged N600m debt through some means, which it described as “abuse of court processes”.

Justice Inyang Ekwo, in a ruling, found that AMCON misled and concealed facts from the court in obtaining the ex-parte order issued on March 25, 2021, on the basis of which it took possession of the senator’s property, including those on 12, St. Petersburg Street, Wuse 2 and Plot 516 off Misau Crescent, off Birnin Kebbi Crescent, Garki 2 (both in Abuja).

Justice Ekwo, who issued the March 25 order temporarily empowering AMCON, appointed receiver, to take over the property allegedly pledged by the senator when his company – Abadat Ventures Ltd – got the loan from GTB, said AMCON concealed the fact that the senator and his company filed a suit as far back as 2013 (FHC/ABJ/CS/746/13) challenging the legitimacy of the alleged debt.

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Justice Ekwo rejected arguments by AMCON lawyer, who had relied on the provisions of sections 33(a) and 39(c) of AMCON Act (2019), and held that both sections were inapplicable because they were enacted during the pendency of the earlier suit filed by the senator and his company.

“It is only just and proper that the action filed since 2013 be concluded before the first claimant (AMCON) can take further action on the property,” the judge said.

According to him, AMCON Act 2019 cannot apply to a suit filed in 2013 before the amended AMCON Act became effective.

Justice Ekwo said, “I have noted that when the claimants filed this action by their ex-parte motion for interlocutory possession, dated March 11, 2021, which this court granted on March 25, 2021, no averment in the affidavit in support thereof made any mention of an existing action in court.

“I believe that, if that was done, the court would have made orders requisite in the circumstances of this case. It can therefore be said that the order of this court on the motion ex-parte of the claimants was not made upon full disclosure of material facts by the claimants.

“The claimants should know what to do if they have any right to protect or claim in Suit No. FHC/ABJ/CS/746/2013 – Abadat Ventures Ltd. & Anor v. Asset Management Corporation of Nigeria & Anor. The law is clear on such situation.”