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Court dismisses AMCON’s ex-parte order against businessman

Our Reporter

 

THE Federal High Court in Abuja has vacated an ex-parte order against Peace Global Satellite Communication network and its Managing Director, Livingstone Oreye.

The order empowered AMCON’s receiver-manager to take possession of the properties belonging to Oreye and his wife, which include their residence and hotel at Omole Estate, Lagos.

The court held that the ex-parte order was obtained without jurisdiction.

The court further held that AMCON’s lawyer moved the motion on March 9 despite a pending appeal at the Supreme Court served on the claimant on February 14.

Oreye had petitioned the Attorney-General of the Federation (AGF) and the Senate Committee on Banking, Insurance and other Financial Institutions over the seizure of his properties by AMCON.

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Oreye said he borrowed N178million through his companies, Peace Global and Peace Hotels Limited, in 2004 to fund a telecoms investment. He said he repaid N162 million, with N16million balance.

According to him, a thunderstorm destroyed the Peace Global Satellite Communications Network, a development that made Wema Bank attempt to sell the collateral used to secure the loan.

But Peace Global went to court in 2009, claiming that Wema Insurance Brokers failed to process the thunderstorm claim for two years.

Oreye denied the sum the bank and AMCON claim his companies owed and urged the Senate and the AGF to call the agency to order, especially as the case is pending at the Supreme Court.



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