AMCON Clears Donald Duke Of All Debt After N350m Settlement
The Asset Management Corporation of Nigeria has relieved the former governor of Cross River, Donald Duke of all debt owed.
The federal government agency gave the clearance after the former Cross River State Governor Donald Duke paid N350 million settlement.
AMCON counsel Mrs Juliet Benson told the judge that Duke had fulfilled the terms of the out-of-court settlement and that both parties agreed to the terms.
“I hereby pray the court to adopt the terms of settlement as the judgment of court,” Mrs Benson said.
Duke’s counsel Edoigiawerie Omoruyi confirmed that his client had “shown good faith by promptly making the payment of over N350 million, which all the parties agreed to”.
He added: “I join my colleagues in praying the court to enter our terms of settlement as the full and final judgment of court.”
A Federal High Court in Lagos who also confirmed the clearance of N537,334,360.77 debt to AMCON discharged its August 21 interim order, which permitted AMCON and the United Bank for Africa (UBA) to seize Duke’s properties and funds in his accounts.