By Babajide Komolafe

The Asset Management Corporation of Nigeria (AMCON) has taken over the assets of Northrich Technologies Limited over alleged failure  of the company to repay N500 million debt.

This follows the order of    Hon. Justice A.I. Chikere of the Federal High Court, who presided    over the suit between AMCON and    Northrich Technologies Limited .

AMCON in a statement said, “Northrich Technologies Limited is promoted by Alhaji Mukhtar Aliyu Shinkafi, and Alhaji Ahmad Aliyu Shinkafi among other directors of the company whose total indebtedness to AMCON is nearly N500 million.

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“The court in suit Suit No. FHC/ABJ/CS/258/14 – AMCON V. Northrich Technologies Limited ordered AMCON and its appointed law firm to take over Plot 5, Zaria Road, Damba Gusau Local Government Area, Zamfara State, measuring about 11 hectares with C of O number GS/G/1443 and SOK. 1501, residential plot on Shinkafi Road Sokoto State belonging the defendants, as well as all the equipments that were purchased with the facility.

“The court also granted an order freezing each and every account belonging to the Company and its promoters. AMCON as directed by the court has effectively taken over all the assets through its appointed law firm.”

Vanguard