A Federal High Court sitting in Lagos, has on Wednesday cleared Former Executive Governor of Cross-River State, Donald Duke, of N537,334,360.77 debts owed Asset Management Corporation of Nigeria (AMCON).
The clearance followed the payment of N350 million as final settlements.
Recall that AMCON had on August 8 sealed off Duke’s Ikoyi home following the interim order.
The court however discharged its August 21 interim order which had permitted AMCON and the United Bank for Africa (UBA) to seize Duke’s properties and funds in his accounts.
Justice Nicholas Oweibo cleared Duke following settlement terms filed and moved by AMCON’s legal team from Benson Reeds Legal Practitioners, Abuja.
Mrs Juliet Benson, a counsel to AMCON , had told the judge that Duke had fulfilled the terms of the out-of-court settlement and both parties had agreed to the terms.
“I hereby pray the court to adopt the terms of settlement as the judgment of the court,” Benson said.
Mr Edoigiawerie Omoruyi, a counsel to Mr Donald Duke, confirmed that his client had “shown good faith by promptly making the payment of over N350m which parties all agreed to.
“I join my colleagues in praying the court to enter our terms of settlement as the full and final judgment of a court.”
In a bench ruling, Justice Oweibo upheld their prayers.
The judge added: “All orders in the case stands discharged.”
