AMCON Takes Over Gov. Dapo Abiodun’s Heyden Petroleum Over Alleged Insolvency

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Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos has granted an interim take-over of Heyden Petroleum Limited, a company owned by the Ogun State Governor, Dapo Abiodun, over alleged insolvency.

Justice Lewis-Allagoa in suit No AMC/67/2024, granted the take-over of the petroleum company by the Asset Management Corporation of Nigeria (AMCON) after hearing the submission of an Ex Parte motion filed through its lawyers, O. T. Ogunba and I. U. Odo of Kunle Ogunba SAN & Associates, who moved the motion with a supporting affidavit and written address.

Innovative Ventures Limited and Optimum Construction & Property Development Company Limited are also affected by the interim order granted on October 29, as prayed by the AMCON’s lawyers

The judge later adjourned the hearing of the substantive suit till November 21, 2024

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SUNDAY ADEBAYO is a writer, Public relations practitioner, and a versatile Journalist with over 6,000 reports on a wide range of topics associated with the Nigerian society and the international community. Currently the Editor In Chief at Society Reporters. His passion is to deliver great and insightful news and analysis on topical issues and society happenstances.