AMCON takes over Polema Industries assets

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The Asset Management Corporation of Nigeria has taken over a factory and other assets belonging to Polema Industries Limited and its Chief Promoter, Chief Emmanuel C. Obi over an indebtedness of over half a billion naira.

A statement from AMCON said this followed the order of Hon. Justice F.O.G. Ogunbanjo of the Federal High Court, Abuja who granted AMCON possession over the company and its assets in Suit No: FHC/ABJ/CS/227/2020.

It stated that Justice Ogunbanjo also ordered that all the bank accounts of the company, as well as that of Obi, be frozen.

The statement said, “In compliance with the order, AMCON through Barr. Chike Adaka of Elite Law, the Debt Recovery Agent who also received protective orders from the court on Wednesday, June 24, 2020 took effective possession of Polema Industries Limited, located at KM 5, Osisioma Industrial Layout, Aba, Abia State.”

Source: PUNCH.

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