The Asset Management Corporation of Nigeria has taken over assets belonging to Zulu Investment Limited over a N4billion debt.
This follows the order of Honourable Justice M.S. Hassan of the Federal High Court, Lagos division.
In compliance to the enforcement order, AMCON commenced the process of effective possession of the properties through its Debt Recovery Agent – Prime Chamber Law Firm.
Jude Nwauzor, Head of Corporate Communications Department of the Corporation who confirmed the takeover in a release however stated that all avenues of peaceful resolution were explored to no avail before AMCON made the decision to seek justice in the court of law.