JUSTICE Daniel Osiagor of a Federal High Court, sitting in Lagos, has formally discharged the Managing Director of PC Outlet Limited Company, Mr Onyema Okonjo from any outstanding debt obligations to the Asset Management Corporation of Nigeria, AMCON.
The ruling of the court followed a letter from AMCON, referenced AMC/ABJ/ERM/22/962/MU/47007, titled ‘Letter of Non-Indebtedness’, jointly signed by its Head Enterprise Risk Management, Matthew Coker, and the Group Head Enforcement, Joshua Ikioda.
The document confirmed that neither Mr Okonjo nor PC Outlet Ltd had any debts owed to AMCON.
Following the submission of this letter, which was corroborated in court by AMCON’s legal representative, Mr Francis Oloruntoba, Justice Osiagor issued a full discharge of Okonjo from all liabilities.
Furthermore, the court ordered the return of all securities, including properties located in the Lekki Peninsula, to Mr. Okonjo.
Recall that before this ruling, Justice Osiagor had granted a freezing order that attached the bank accounts of the directors of PC Outlet Ltd, including Mr Onyema Okonjo, Mr Kenneth Njoku, and Mr Ernest Awulonu based on a purported 168m debt which was adjudged indebtedness and accrued interest.