AMCON takes over Omokore’s firm


The Federal High Court in Lagos has ordered the Asset Management Corporation of Nigeria, AMCON, to take charge of the affairs of Cedar Oil & Gas Exploration and Production Limited.

Justice C. J. Aneke gave the order following the failure of the firm and its directors, Olajide Omokore, Isiaka Mohammed, Joseph Bazuaye, Silas Ode and others to defray ₦15 billion out of the total outstanding indebtedness of ₦29 billion debt owed AMCON.

Mr Omokore, who is also the Chairman of Atlantic Energy Limited, has been linked with the former Petroleum Resources Minister, Diezani Alison-Madueke, who is also wanted by the Economic and Financial Crimes Commission, EFCC, for corruption.

AMCON spokesperson, Jude Nwauzor, said on Monday the debt recovery agency has successfully taken possession of all the company’s asset through the Receiver/Manager, Godwin Nwokoyo, who also received protective orders from the court.

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