We don’t owe AMCON, says Bi-Courtney

The Bi-Courtney Group has faulted its inclusion on the list of debtors published by the Asset Management Corporation of Nigeria on Friday.

The group faulted its inclusion on the list and described the AMCON’s move as “an act of extreme bad faith.”

In a statement by the counsel for the company and Partner, Babalakin & Co. Legal Practitioners, Tolu Oshobi, the firm said that the Federal High Court had in 2012 ruled that the Federal Government, AMCON’s principal, was indebted to Bi-Courtney to the tune of N132bn.

He said the court, thereafter, directed the Federal Government to set off from the sum any claims agreed with Bi-Courtney to be due to any agency of government, including AMCON.

He noted that the order of the Federal High Court in suit No. FHC/ABJ/CS/50/2009, Bi-Courtney Limited vs. Attorney General of the Federation, remained subsisting.

Oshobi further observed that the order applied to all the companies that entered into settlement discussions with the AMCON as the “BCRR Group” namely: Bi-Courtney Limited, Chartered Investment Limited, Resort International Limited and Roygate Properties Limited.