First City Monument Bank Limited (FCMB) on Thursday, the 13th of November, 2025, took possession of properties and assets belonging to Bankers Warehouse Limited, Vandt Investment Limited, and Mr. Victor Hammond in a significant recovery effort.
This action followed a directive in compliance with orders by Justice Aneke of the Federal High Court in Lagos concerning an alleged N4.4 billion debt owed to the bank.
The physical takeover was carried out by court sheriffs accompanied by security personnel. Prior to this, FCMB appointed Nick Omeye, the second plaintiff/applicant, as the receiver, directing that police protection be provided during the execution of the orders. The bank ensured the operation was carried out smoothly and efficiently, with the Receiver, the court bailiff, and law enforcement officers overseeing the process to guarantee compliance.
The seized properties and assets had been used as collateral for loans extended by FCMB and guaranteed by Mr. Victor Hammond, the third defendant.
The recovered assets span multiple states, among the assets secured is the second defendant’s landed property at No. 15 Korimu Kotun Street, Victoria Island, Lagos, registered under Land Certificate No. LO 7649 and covered by a Deed of Tripartite Legal Mortgage dated April 14, 2013.
Additionally, also taken over was the first defendant’s property at 12C Bompai Road, Kano, Kano State, with Certificate of Occupancy dated July 29, 1998, along with a registered Deed of Assignment dated June 8, 2010, and a Deed of Legal Mortgage dated May 24, 2013.
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Furthermore, in the FCT, Abuja, the first defendant’s property at Plot 715, Gwarimpa Cadastral Zone CO2, covered by Certificate of Occupancy registered as 13371/13371/66 in the Abuja Land Registry, also attached. Beyond real estate, the bank also secured vehicles, plants, and machinery of the first defendant, as detailed in the Deed of Fixed Debenture dated July 3, 2013, were similarly placed under the receiver’s control.
In a move to secure the funds, the court also implemented a financial freeze via a Mareva injunction restraining 19 major banks from transferring, disposing of, or dealing with over N4.1 billion linked to Bankers Warehouse and Mr. Victor Hammond.
The banks named in the injunction include Guaranty Trust Bank Plc, Zenith Bank Plc, Fidelity Bank Plc, Polaris Bank Limited, United Bank for Africa Plc, Access Bank Plc, Ecobank Nigeria Limited, and Providus Bank Plc. The purpose of this injunction ensures that the funds remain within the court’s jurisdiction pending the determination of the suit. The restrained banks, referred to as the fourth to 22nd respondents, have also been directed to disclose on oath within 14 days the total funds in their custody belonging to the first and third defendants.
As of the latest reports, the properties remain under the continuous control of FCMB, with law enforcement maintaining oversight to prevent any unauthorized interference.