Donald Duke to pay N537m debt in 12 hours

A former Cross River State Governor Donald Duke on Monday told a Federal High Court in Lagos that he will pay his N537,334,360.77 debt to Asset Management Corporation of Nigeria (AMCON) in less than 12 hours.

Duke, through his counsel, Mr. Edoigiawerie Omoruyi, told Justice Nicholas Oweibo that he had approached AMCON with a promise to liquidate the debt before the end of yesterday (September 2).

He prayed for an adjournment to enable him to settle the case out of court. AMCON, on August 8, through its lawyer Juliet Reeds, obtained the court’s order to take interim possession of Duke’s Ikoyi home.

The court also authorized corporation and United Bank for Africa (UBA) to, in the interim, take possession of funds in the accounts of the ex-governor and others in any bank.

The judge gave the order pursuant to AMCON’s and UBA’s August 8 ex parte application.

The applicants listed Stonehedge Investment Limited, Duke and his wife, Owanari Bob-Manuel Duke, as first to third defendants in the suit.

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When proceedings resumed yesterday around 2 p.m, Omoruyi said Duke was willing to liquidate the debt before yesterday’s midnight deadline for repayment of the loan.

AMCON’s lawyer Austin Erhabor of Benson Reeds Legal Practitioners confirmed that Duke approached the corporation with a pledge to pay the debt before midnight.

Erhabor added: “In the spirit of trust and fairness, we will concede to an adjournment to enable us to finalise the possible settlement.”

Justice Oweibo upheld Duke’s prayer and adjourned till September 11 for a report of the settlement.

AMCON and UBA, on August 8, prayed the court for “an order of interim attachment, possession, and custody of the property being 3, Temple Road, Ikoyi, Lagos”.

They averred that the property was mortgaged by Duke “as collateral in securing the first respondent’s indebtedness to the applicants”

Updated: September 3, 2019 — 9:23 am

28 Comments

  1. well i am sure he is good for it tho, he has eaten almost the whole senates money hasnt he?

  2. I thought I would reserve ma comment but it’s not something to keep quiete about
    Where on this planet is he gonna get such amount in 12hrs

  3. That is good let them pay back the loans they have collected it is our money and not their property.

  4. Haaa see plenty money,for where they want him to get the huge money from..

  5. Thanks God he has the money, now government should let us know what they will use the money for because a lot of money have been collected from different leaders that we don’t know where they are again

  6. This is serious?! See how money is being spent and lavishly lavished

  7. why didn’t you pay in the first place until when they ask you of it you people have money but releasing it to develop this country is all your problem

  8. But after the recovery, where are the recovered money going to because I still see no impact in the countrys economy

  9. This is quite impressing for what Donald duke did ,paying a huge amount of debt in 12 hours ,if individuals could be paying their debts this way without fight then is good one. Weldone boss

  10. Respect for this handsome politician. It’s just a loan not criminality. We all collects loan. Thank God he’s handling with maturity

  11. Where will he get it from, that is Nigeria, he made the statement boldly, more investigation should be done

  12. Try and pay oo,talk and do oo,by the way how did you even owe up to that amount of money, ooh mama

  13. Thanks you so much admin for the information i like the update please keep it up ……………………

  14. Good one from former Cross River governor..
    For me I was thinking that this man wasnt owing at all.

  15. All I look forward to is a great and better Nigeria where Nigerians will be proud of being called Nigerians.

  16. Hunmmmmmmmmmmmmmmmmmmmmmmmmmm this one off me ooooooo even if he has the machine producing money in his house he can’t produce such amount with in 12hrs

  17. So sorry for him.
    He was one of my best governors.
    I hope he pays up his depts.

  18. LOTS OF MONEY FLOATS IN THE AIR AND THEY OBVIOUSLY HAVE NO ACCOUNTABILITY

    1. Even when he pays for this debt there ia no accountability to prove that it has been taken care of or what the money will be used for precisely.

  19. This is quite impressing for what Donald duke did ,paying a huge amount of debt in 12 hours ,if individuals could be paying their debts this way without fight then is good one

  20. Donald duke, try your best to be able to pay according to your promise to them

  21. Only almighty God can settle the matter for for amcon and UBA because they have averred that the property was mortgaged by aduke God help us

  22. This is serious?! See how money is being spent and lavishly lavished

  23. it only in Nigeria a politician can clear a half à billion within 48 hours

  24. I thought I would reserve ma comment but it’s not something to keep quiete about
    Where on this planet is he gonna get such amount in 12hrs

  25. How can such huge amount of money be recovered within the short period time

  26. The court also authorized corporation and United Bank for Africa (UBA) to, in the interim, take possession of funds in the accounts of the ex-governor and others in any bank.

  27. Good moves by the former governor Donald Duke. I love his dynamic approach to the issues.

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