First City Monument Bank Limited (FCMB) has taken possession of properties and assets belonging to Bankers Warehouse (BW) Limited, Vandt Investment Limited, and Victor Hammond, BW board chair, in connection with an alleged debt of N4.4 billion owed to the bank.
The takeover was carried out on Thursday by court sheriffs,
accompanied by security personnel and police officers from the zonal
headquarters of the Nigerian police, Lagos, to ensure full enforcement of the
court’s directives.
The development was in compliance with orders issued by the
federal high court in October 2025 in suit No: FHC/L/C$/1642/2025.
More to follow…
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