Shocker: Court Grants AMCON’s Request To Take Over Gov. Abiodun’s Heyden Petroleum’s Assets Over Alleged Insolvency

A Federal High Court, Lagos, in suit No AMC/67/2024, has granted interim taking over of Heyden Petroleum Limited, a company owned by the Ogun State Governor, Prince Dapo Abiodun, over alleged insolvency.

Justice Ambrose Lewis-Allagoa who presided over the court, granted the taking over of the petroleum company by the Asset Management Corporation of Nigeria (AMCON) after hearing the submission of granting an Exparte motion filed through it’s lawyers, O. T. Ogunba and I. U. Odo of Kunle Ogunba SAN & Associates, who move the motion, affidavit in support and written address.

Other companies affected by the interim order are; Innovative Ventures Limited and Optimum Construction & Property Development Company Limited.

The court had on October 29, 2024 made the taking over order, while delivering ruling on the motion Exparte as prayed by the AMCON’s lawyers who moved in terms of the Motion.

The judge thereafter adjourned the head of the substantive suit till November 21 and 2024.

Culled: News Dish