The Federal High Court in Ikoyi, Lagos, has discharged the order granted to the Asset Management Corporation of Nigeria to take over the property of former governor of Cross River State, Donald Duke.
AMCON and the United Bank for Africa had secured an ex-parte order to take over the former governor’s property over the debt of N500m.
Justice Nicholas Oweibo on Wednesday discharged the order based on the settlement terms filed and moved by AMCON’s legal team.
Juliet Benson told the court that Donald Duke had fulfilled the terms of the settlement and both parties had agreed to it.
She then urged the court to adopt the terms of settlement as the judgment of court.
Counsel to Duke, Edoigiawerie uyi, confirmed that his client had shown good faith by making payment of over N350m, which the parties all agreed to.
Justice Oweibo, in his short ruling, granted the terms of the settlement and entered it as full and final judgment, adding that all orders in the case stands discharged.