Court evicts firm from VI property over sale by AMCON

By Innocent Anaba

Baillifs of the Federal High Court, in Lagos, have stormed No. 324A, Akin Ogunlewe Street, Victoria Island, and evicted popular comedian, and his company, XQZMOI TV, over the sale of the property by Assets Management Corporation of Nigeria, AMCON, which sale had been reversed by the court and given back to the family of the owner, who is now deceased, and his company, Harold Expansion Industries Nigeria Limited.

The baillifs’ action was sequel to the court’s writ of possession signed by a Federal High Court judge on August 15, 2025.

Justice Ambrose Lewis-Allagoa delivered judgment on July 31, 2015, in a suit by AMCON as plaintiff, against Harold Expansion Industries Limited as defendant, in which Harod Expansion counter-claimed against AMCON.

In its judgment, the court dismissed the claim brought by AMCON, and ruled in favour of the counter claimant, and reversed the sale of the property which was occupied by the comedian and his company, and ordered a return of the property to the original owner.

In the suit, AMCON claimed the defendant was indebted to the defunct Bank PhB(now Keystone Bank) to the tune of N617 million, the loan which it took over according to the laws that set it up.

The corporation claimed that despite the sale, it was still indebted to the tune of N616.1million.

However, the company counter-claimed through an action filed by its lawyer, Benjamin Sadibo, denying the debt.

In their counter-claim, the defendant stated that “contrary to the plaintiff’s averments, the sum of N 129 million contained in the offer dated September 2, 2009, was the product of the consolidation and restructuring of what the bank computed to be outstanding on the facilities availed in January, May, and August of 2008, the repayment of which the bank had been deducting from the inception, from the first loan in January 2008.”

In his judgment, Justice Allagoa entered judgment in favour of the counter claimant by granting all reliefs sought, including N500 million damages against AMCON.

It was gathered that the comedian bought the property from AMCON at the sum of N220 million in the year 2021, while the action was still pending in court and while there was an order of court mandating AMCON to preserve (not to sell) the property pending the determination of the suit.

The property comprises two separately built big duplexes one of which faces the Atlantic Ocean now separated by the ongoing Lagos-Calabar Coastal Highway.

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