AMCON to take Over Ben Murray Bruce Silverbird Cinemas over Debt

The Assets Management Corporation of Nigeria (AMCON) may have seize the property of Silverbird Cinemas and other affiliated businesses of the Silverbird Group, according to new reports by online newspaper, Sahara Reporters.

The New York based online news platform claims to have obtained court papers indicating that AMCON approached the federal high court in Lagos to seek an order to take over the assets of the Silverbird Group, an order which has now reportedly been granted.

Sahara Reporters shared what it claims to be pictures of the court process filed against chairman of the Silverbird Group and senator representing Bayelsa east senatorial district at the national assembly, Senator Ben Murray-Bruce alongside family members with whom he manages the business.

Earlier in the week, AMCON sought to take over the assets of NICON Group owned by billionaire businessman, Jimoh Ibrahim, in satisfaction of a N50 billion debt owed to the corporation.

It will be recalled that on May 31st, the federal government set up an inter-agency committee to assist AMCON in the recovery of debts from commercial banks and corporate organisations.

The committee, headed by the Attorney General of the Federation and Minister of Justice, Abubakar Malami, has members
drawn from various ministries, departments and agencies.

They include the Minister of State (Aviation), Inspector General of Police, Chairman, Economic and Financial Crime Commission, Accountant General of the Federation, and Group Managing Director, Nigerian National Petroleum Corporation.

The committee, among other things, is to help ascertain how government agencies could collaborate to support AMCON’s recovery effort in ensuring that payments due to obligors were made to AMCON; see the prospects of going into a Joint Venture Agreement with AMCON; ensure the acquisition of forfeited assets from AMCON, and take-over of recalcitrant businesses/companies where feasible.

Senator Murray-Bruce is yet to react to the claims by Sahara Reporters.