AMCON Moves To Recover N7.6bn From Providence School, Enugu


The management of Asset Management Corporation of Nigeria (AMCON) has exempted itself from an alleged unprofessional manner the court order in their favour against the landed assets of Providence High School, Enugu, was carried out.

The school, a private female boarding school located at Agric. Bank bus stop in Independence Layout area of Enugu, was alleged to be under lock and key by AMCON, with 344 students inside, based on a court order asking AMCON to take over the possession of the landed asset of the school, which was used as collateral for a loan of N7.6 billion.

It was also alleged that the security personnel and AMCON officials that came with a court bailiff to enforce a court order, did not carry out their duty professionally which resulted in the molestation of both teachers and some journalists that were around the school.

Speaking to journalists at a media chart in Enugu, Jude Nwauzo the AMCON Public Relations Officer, said, the report was not balanced. According to him, the story of the school was unfortunate because AMCON never enforces any court orders on schools.

“We do not shut down schools. This is not our first experience with schools. We don’t do that with schools. Schools are very strategic.

They are key to the economy; they are key to our development. It is very sensitive, which is why we took over Providence High School, but they are still running,” he said.

Nwauzo said that what AMCON normally does is that when a court of competent jurisdiction gives order for them to take possession of any property, they show presence. That they don’t do it themselves, but rather send court bailiffs to do the possession order; and put a board on notice to show that the property has a case; and leave the school to continue to run. This, he said is because they understand the implications and the reality of what education system represents for Nigeria.

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