The federal high court sitting in Lagos has ordered the Assets Management Corporation of Nigeria (AMCON) to pay the chairman of Bi-Courtney Group of Companies, Bolanle Olawale Babalakin, N3 billion for publishing his name as a debtor in ThisDay Newspaper.
In the case, FHC/L/CS/1296/2012, Ibrahim Buba, a justice of the court who presided over the case, said the payment would stand as compensation for damages.
The spokesman of Bi-Courtney, Steve Omolale, confirmed the court judgement on Wednesday.
When contacted, AMCON’s spokesman, Jude Nwauzor, requested for time to confirm from the corporation’s legal team before commenting. He had not made any comments as at 4:40pm when this report was filed.
Since 2012, AMCON and Babalakin have been in a legal battle for the possession of Federal Secretariat Complex, Ikoyi.
In 2016, AMCON published the names of 217 people who it tagged its chronic debtors.
Speaking to journalists recently, Ahmed Kuru, AMCON’s managing director, had said the corporation would go after debtors who seemed to be untouchable in 2018.