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Business MRS Challenges AMCON, Says It Has Paid Its Debts

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MRS Holdings Limited has kicked against moves by AMCON to shut down its operations over an alleged N81bn debt.

Read: AMCON Set To Shut Down Dantata's MRS

In a statement released on Tuesday, MRS said it is not indebted to AMCON.

“MRS challenges in the strongest possible terms the false claim by AMCON that MRS is indebted to it in the sum of N81 billion or any sum at all," the statement said. “The correct position is that MRS obtained a syndicated loan from a consortium of banks in Nigeria for a viable project. AMCON took over the loan. However it became clear to AMCON that MRS was paying down on the loan and agreed to restructure the loan on agreed terms of N74 billion.

“The said debt has since been fully settled. The terms of settlement was entered as a judgment of court on 29 June 2015, in Suit No FHC/L/CS/1365/2015.

“MRS is shocked that in spite of having fully settled the debt, AMCON has decided to re-litigate an already concluded matter.


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