N537m debt: Court clears Duke after N350m payment – The Nation Newspaper

N537m debt: Court clears Duke after N350m payment

A Federal High Court in Lagos on Wednesday cleared a former Cross River State governor Mr Donald Duke of his N537,334,360.77 debt to Asset Management Corporation of Nigeria after he paid N350 million as final settlement.

The court discharged its August 21 interim order which had permitted AMCON and the United Bank for Africa to seize Duke’s properties and funds in his accounts. Justice Nicholas Oweibo cleared Duke following settlement terms filed and moved by AMCON’s legal team from Benson Reeds Legal Practitioners, Abuja.

AMCON counsel, Mrs Juliet Benson, told the judge that Duke had fulfilled the terms of the out-of-court settlement and both parties had agreed to the terms.Duke’s counsel, Mr Edoigiawerie Omoruyi confirmed that his client had “shown good faith by promptly making the payment of over N350m which parties all agreed to.“I join my colleagues in praying the court to enter our terms of settlement as the full and final judgment of court.”The judge added: “All orders in the case stands discharged.

Stonehedge Investment Ltd, Duke and his wife, Owanari Bob-Manuel Duke, were first to third defendants in the suit.

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