In enforcement of a Federal High Court judgment, First City Monument Bank Limited (FCMB) has taken possession of properties and assets belonging to Bankers Warehouse Limited, Vandt Investment Limited, and Mr. Victor Hammond over an alleged N4.4 billion debt.
![](https://thenigerialawyer.com/wp-content/uploads/2024/11/TheNigerialawyer-WhatsApp-Channel1.jpg")
The takeover, executed on Thursday, November 13, 2025, was carried out by court sheriffs accompanied by security personnel and police officers from the Lagos Zonal Headquarters, ensuring full compliance with the court’s directives.
FCMB had previously appointed Nick Omeye, Esq., as Receiver, directing that police protection be provided during the enforcement. The seized properties had been used as collateral for loans extended by the bank and guaranteed by Mr. Hammond.
Key assets taken over include:
- The 2nd Defendant’s property at No. 15 Korimu Kotun Street, Victoria Island, Lagos, registered under Land Certificate No. LO 7649 and secured by a Deed of Tripartite Legal Mortgage (April 14, 2013).
- The 1st Defendant’s property at 12C Bompai Road, Kano, with Certificate of Occupancy (July 29, 1998) and associated Deeds of Assignment and Legal Mortgage.
- Abuja property at Plot 715, Gwarimpa Cadastral Zone CO2, with Certificate of Occupancy No. 13371/13371/66.
- Vehicles, plants, and machinery detailed in a Deed of Fixed Debenture (July 3, 2013).
Additionally, a Mareva injunction was issued restraining 19 banks, including Guaranty Trust Bank Plc, Zenith Bank Plc, Fidelity Bank Plc, Polaris Bank Ltd, United Bank for Africa Plc, Access Bank Plc, Ecobank Nigeria Ltd, and Providus Bank Plc, from transferring, disposing of, or dealing with over N4.1 billion linked to the defendants.
The restrained banks have been directed to disclose on oath within 14 days the total funds in their custody belonging to the 1st and 3rd defendants, ensuring proper accounting and guiding the court on the next steps.
The enforcement exercise was carried out smoothly, with law enforcement and the Receiver overseeing proceedings to prevent unauthorized access. The properties remain under FCMB control as of Thursday afternoon.
The book, titled The Law of Torts in Nigeria: A Functional Approach, authored by Professor Hagler Sunny Okorie Ph.D and Ikeocha, Nathaniel Ngozi Esq, offers law students, practitioners, and academics a comprehensive guide to understanding and applying tort law in Nigerian courts. Interested buyers can place orders via the following contact numbers: 08028636615, 08037667945, 08032253813, or +234 902 196 2209.
______________________________________________________________________
[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
ARTIFICIAL INTELLIGENCE FOR LAWYERS: A COMPREHENSIVE GUIDE
Reimagine your practice with the power of AI “...this is the only Nigerian book I know of on the topic.” — Ohio Books Ltd
Authored by Ben Ijeoma Adigwe, Esq., ACIArb (UK), LL.M, Dip. in Artificial Intelligence, Director, Delta State Ministry of Justice, Asaba, Nigeria.
Bonus:
Get a FREE eBook titled “How to Use the AI in Legalpedia and Law Pavilion” with every purchase.
How to Order: 📞 Call, Text, or WhatsApp: 08034917063 | 07055285878 📧 Email: benadigwe1@gmail.com 🌐 Website: www.benadigwe.com
Ebook Version: Access directly online at: https://selar.com/prv626
________________________________________________________________________ The Law And Practice Of Redundancy In Nigeria: A Practitioner’s Guide, Authored By A Labour & Employment Law Expert Bimbo Atilola
_______________________________________________________________________
