We’re Not Indebted to AMCON, Says Aquitane

  • We’re Not Indebted to AMCON, Says Aquitane

Aquitane Oil and Gas Limited has said it is not indebted to the Asset Management Corporation of Nigeria.

The firm’s counsel, Banwo & Ighodalo, said in a letter that AMCON claimed the sum of N2, 288,302,575.79 against Aquitane allegedly representing the oil firm’s outstanding indebtedness.

It said, “However, Aquitane filed a counter-claim in the sum of N11,765,000,000.00 against AMCON as (a) excess credit due to Aquitane from the acquisition of its assets by AMCON and (b) damages.”

A lawsuit, marked ‘FHC/L/CS/1122/12 (AMCON v. Aquitane Oil and Gas Limited & 2 Ors.)’, was said to be pending before Justice C.J. Aneke, sitting at the Lagos Judicial Division of the Federal High Court of Nigeria.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]; Tel: +2347065163489.

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