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 following an order by Justice Aneke of the Federal High Court in Lagos.
The enforcement, conducted yesterday by court sheriffs with security personnel, is tied to an alleged N4.4 billion debt owed to the bank. FCMB appointed Nick Omeye as the receiver and secured police protection to ensure smooth execution of the court orders.
The affected assets had been pledged as collateral for loans extended by FCMB and guaranteed by Mr. Victor Hammond. Among the properties taken over is Vandt Investment Limited’s landed property located at No. 15 Korimu Kotun Street, Victoria Island, Lagos. The asset is registered under Land Certificate No. LO 7649 and covered by a Deed of Tripartite Legal Mortgage dated April 14, 2013.
Also seized is Bankers Warehouse Limited’s property situated at 12C Bompai Road, Kano, backed by a Certificate of Occupancy issued on July 29, 1998, a Deed of Assignment dated June 8, 2010, and a Deed of Legal Mortgage dated May 24, 2013.
In Abuja, the company’s property at Plot 715, Gwarimpa Cadastral Zone CO2, registered as 13371/13371/66 in the Abuja Land Registry, was similarly taken over.
The takeover further extended to vehicles, plants, and machinery owned by the first defendant, as listed in a Deed of Fixed Debenture dated July 3, 2013, which have now been placed under the receiver’s control.
In addition to the physical assets, the court granted a Mareva injunction restraining 19 major banks—including Guaranty Trust Bank, Zenith Bank, Fidelity Bank, Polaris Bank, UBA, Access Bank, Ecobank, and Providus Bank—from transferring or dealing with over N4.1 billion linked to Bankers Warehouse and Mr. Victor Hammond. The order ensures that the funds remain within the court’s jurisdiction pending the determination of the suit.
The enforcement operation was described as smooth and efficient, with the receiver, court bailiff, and law enforcement officers supervising compliance.
The court further directed the 4th to 22nd respondents—comprising the restrained banks—to disclose on oath within 14 days the total funds in their custody belonging to the first and third defendants.
