Justice C.J Aneke of Federal High Court Lagos Division has granted an injunction against Cedar Oil & Gas E&P Ltd, [mandating] AMCON to take over assets of the firm over an indebtedness of ₦29billion.”

“In compliance with the court order, AMCON has formally & successfully taken possession of all assets of Cedar Oil & Gas E&P Ltd promoted by Mr Olajide Omokore & others… through Mr. Godwin Nwekoyo, the Receiver/Manager who also received protective orders from the court.”

“The assets, which are now under AMCON include: Block A, No. 46 Gerrard Road, Ikoyi, comprising of 26 flats; Plot 1236, River Niger Street, Maitama, FCT, Abuja; as well as Marion Apartment, Block 8, No. 4 & 5, Onikoyi Estate, Banana Island, consisting of 43 units of apartments.”

“AMCON is also in possession of No. 33A, Cooper Road, Ikoyi, Lagos State; No. 8, Gerrard Road, Ikoyi, Lagos State as well as Manson Apartments, No. 6, Gerrard Road, Lagos State comprising of 60 units of three-bedroom apartments.”

“Justice Aneke gave the orders following failure of Cedar Oil & Gas Exploration & Production Limited as well as its directors, to pay AMCON their admitted sum of over ₦15billion out of the total outstanding indebtedness of ₦29billion owed to the recovery agency of Nigeria Gov.”