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AMCON Misleading the Public — Babalakin

Bi-Courtney Limited (BCL) has accused the Asset Management Corporation of Nigeria (AMCON) of deliberately misinforming the public about the facts of the issues it has to settle with Dr. Wale Babalakin.

The company accused AMCON of engaging in cheap blackmail and character assassination by bringing up issues that are not relevant to the one at hand, instead of addressing the issues raised by its Chairman at the press conference he held at BCL’s headquarters in Lagos, on Monday.

 According to a statement issued by BCL’s spokesman, Dipo Kehinde, the firm was compelled to make “certain clarifications, following the erroneous and provocative claims made by AMCON at a press conference addressed by its counsel, Mr. Olisa Agbakoba, in Lagos, yesterday.”

BCL expressed its negative disposition to joining issues with AMCON and, or, any of its legal representatives as to the circumstances of or the actual volume of Babalakin’s indebtedness to the corporation, but only demanded the corporation’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.

It described the figure of N60bn suggested by AMCON as a figment of AMCON’s imagination, which is consistent with its characteristic of being cavalier with issues, especially facts and figures.

Bi-Courtney stated that paragraphs three and four of the order unambiguously directed as follows:  “An order directing the Defendant/Respondent (Attorney General of the Federation), being the Chief Law Officer and legal representative of the Federal Government of Nigeria 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 judgment of this honorable court by making without any further delay the payment of N132,540,580,304.00 to the Plaintiff/Applicant (Bi-Courtney) in fulfillment of the aforesaid order of this Honorable court.

“An order directing the Defendant/Respondent, being the Chief Law Officer and legal representative of the Federal Government of Nigeria to set off from the above-mentioned of N132, 540, 580, 304.00, any claims agreed with the Plaintiff/Applicant to be due from the Plaintiff/Applicant to any agency of the Federal Government of Nigeria, including but not limited to the Asset Management Corporation of Nigeria (AMCON).”

“It is amazing that AMCON, which is a creation of the Federal Government, is now refusing to acknowledge its principal’s instrument as a means of repayment to it, thus impliedly casting aspersion on the credibility and standing of its principal,” the statement added.