The Asset Management Corporation of Nigeria (AMCON), on Wednesday, described as false, a news report by a national daily purporting that the Supreme Court never ordered it to pay Bi-Courtney, the sum of N132bn.
On the contrary, it said the corporation would continue to explore every legal avenue to recover the over N119bn outstanding debt owed the Wale Babalakin owned Bi-Courtney in the national interest and interest of the bond owners.
AMCON noted that the fake news report does not, obviously, represent the judgment of the apex court, since there was never an issue of any liability of AMCON in contention, adding that the appeal was only in respect of the leave granted the corporation by the Court of Appeal to appeal as an interested party.
The statement by Jude Nwuzor, spokesman of the corporation, said the Apex court averred that the application ought to have been filed at the Federal High Court initially before proceeding to the Court of Appeal.
“This was the sole issue submitted and determined by the Supreme Court whilst the substantive matter is still with the lower court,” Nwuzor said, adding that the appeal against the judgement of the Federal Government/FAAN, parties to the substantive cause given rise to the enforcement Order is still pending at the Appeal Court.
The said appeal, he stressed, “is strictly between the Federal Government/FAAN and Bi- Courtney and has nothing to do with AMCON.
“The whole matter of N132billion is strictly a case between Bi-Courtney Limited and the Federal Government of Nigeria/FAAN. Bi-Courtney is struggling to tie the matter to their debt obligation in AMCON.”
The only import of the judgment, the statement continued, “is that AMCON seeks the leave of the FHC first to appeal the enforcement Order before approaching the Court of Appeal.
“The net effect of the above is that AMCON was never ordered to pay Bi-Courtney N132bn nor any other amount,” insisting that it has never been a party to any of the proceedings pending at the court of Appeal.