Says ASCON Oil has resorted to self help
Admin l Tuesday, August 11, 2020
LAGOS, Nigeria – Stanbic IBTC Bank has accused Ascon Oil of resorting to self help in repossessing a property situated along Admiralty Way, Lekki, stressing that no court has granted it any order.
In a statement, the bank said Ascon Oil merely misrepresented the facts of the case and that it is taking all legal steps to remedy the situation.
“This is certainly a gross misrepresentation by Ascon, as no Court Order was granted to Ascon to warrant their extra-judicial action, which they undertook in forcefully seizing a Petrol Station validly belonging to a third party, in total defiance and disregard of Ruling of Justice Liman of the Federal High Court on 24 July 2020”, the bank said.
Stanbic IBTC bank presented the facts as follows:
“Please take note that the Federal High Court had on 24 July 2020, clearly REFUSED to grant Ascon’s Application to set aside the Order earlier granted to the Receiver appointed by the Bank to take possession of the Petrol Station located on Lekki Admiralty Way, Lekki Phase 1 Lagos.
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“In total contempt of the Ruling by the Federal High Court, the Directors of Ascon resorted to self-help, and forcefully seized the property from the valid title holder.
“The Bank is taking all lawful steps to ensure that the illegal and unlawful ‘possession’ is reversed and the directors of Ascon are brought to book,” the bank said.
