Mr. Donald Duke

The Federal High Court in Lagos has ordered the Asset Management Corporation of Nigeria and United Bank for Africa to take over an Ikoyi , Lagos property of a former governor of Cross River State , Mr Donald Duke , over an alleged debt of N537 ,334 , 360 . 77 .

The court made the takeover order in an August 8 , 2019 ruling by Justice Chuka Obiozor .
The order was pursuant to an ex parte application, marked , FHC / L /CS / 1373 / 2019 , taken before the judge by AMCON and UBA .
Listed as first to third defendants were Stonehedge Investment Limited , Mr Donald Duke and Mrs Owanari Bob – Manuel Duke , respectively .

The applicants had prayed the court for “ an order of interim attachment , possession , and custody of the property being No . 3 , Temple Road , Ikoyi , Lagos .”
They told the court that the property was mortgaged by Duke “ as collateral in securing the 1 respondent ’s indebtedness to the applicants .”
They urged the court to grant them possession of the property “ pending the institution and disposal of proceedings for recovery of debt against the respondent, pursuant to Section 49 of the Asset Management Corporation of Nigeria Act 2010 ( as amended ). ”
They also prayed the court for an interim Mareva injunction to take possession of funds in the accounts of Duke and others in any bank “ pending the institutional and disposal of proceedings for the recovery of a debt of N537 ,334 , 360 . 77 made up of the principal debt and interest against the respondents pursuant to Section 50 of AMCON Act 2010 . ”

The judge granted the prayers , in addition to an order restraining the respondents from “ transacting , transferring , changing or howsoever dealing in any manner or interfering with the applicants ’ possession ” of the Ikoyi property .
The judge ordered AMCON and UBA to ensure service of substantive originating processes on the respondents within 20 days of the making of the order .
He adjourned the case until September 2 , 2019 .

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