The Asset Management Corporation of Nigeria (AMCON) has dragged Ibidun Agagu, the wife of former governor of Ondo State, Olusegun Agagu, before a Federal High Court in Lagos over unpaid debt of N32,136,877.25.
Also listed in the suit as co-defendants are the son of the former governor, Feyisayo Agagu, and Central Securities Clearing Systems Plc.
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AMCON alleged that Feyisayo who was a customer of United Bank for Africa Plc applied for a loan of N6,177,600 on June 19, 2007, and was consequently granted for the acquisition of UBA approved shares from the capital market or public offer.
The agency said the loan ought to have been fully repaid by 18th June, 2008, but the unpaid loan was categorised as non-performing loan.
AMCON has now asked the court to order Feyisayo to pay over N32 million being the outstanding sums he owed AMCON with the interest at the rate of 15% per annum from August 16, 2018 until judgement and thereafter at the rate of 10% per annum until liquidation of the judgement sum.
It also wants: “An order granting AMCON a power of sale in respect of the stocks clearly identified to belong to Agagu Feyisayo Opeyemi and all other shares owed by him to be applied towards liquidation of his indebtedness.
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“An order nullifying the purported sale of the shares by Agagu Feyisayo Opeyemi to his mother on the premise that the said illusory sale made on 13th December, 2018 was a deliberate and calculated attempt by Agagu Feyisayo Opeyemi to overreach the court and foist a fait accompli on the order of the court.”
Justice Chuka Obiozor has adjourned till October 8 for resumption of hearing.
