FG owes Bi-Courtney N132b – Babalakin

 

                    The Chairman of Bi-Courtney Limited, Dr. Wale Babalakin (SAN), on Tuesday said the Federal Government owes the company N132billion.
                        He said the company is not indebted to the Asset Management Corporation of Nigeria (AMCON), rather, AMCON and its principal (Federal Government) owe it.

Babalakin while speaking through his law firm’s head of litigation, Mr. Tola Oshobi, at a news conference in his Lagos, said the Federal High Court sitting Abuja ordered the Federal Government, represented by the Attorney-General of the Federation, Mohammed Bello Adoke (SAN), to pay Bi-Courtney the sum.
A copy of the order, made by Justice G. Olotu on April 5, 2012 in a suit numbered FHC/ABJ/CS/50/09, was made available to reporters.
The judge had directed the AGF to pay N132, 540,580,304.00 to Bi-Courtney “being the sum due to be rendered and remitted to the applicant (Bi-Courtney).”
The judge also directed Adoke “to mandatorily compel” the affected government institutions and bodies to make the payment “without any further delay” to Bi-Courtney.
“Justice Olotu also made “am order directing the defendant/respondent, being the Chief Law Officer and legal representative of the government to set off from the above mentioned sum of N132, 540,580,304.00 on 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),” the court order stated.
Babalakin said AMCON’s assertion that Bi-Courtney is indebted to it is yet to be confirmed by any court.
“Conversely, Bi-Courtney’s position that it is not indebted to AMCON and that it is AMCON and its principal that are indebted to it, is premised upon a judgment of the court and not merely on Bi-Courtney’s assertion.
“AMCON is of course an agency and integral part of the Federal Government of Nigeria. The judgment sum awarded to Bi-Courtney clearly exceeds AMCON’s unconfirmed allegations,” he said.