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.
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:
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.
