The Supreme Court of Nigeria has upheld the sale of Lagos Continental Hotel by the Asset Management Corporation of Nigeria (AMCON) for ₦22 billion. The ruling ends a long legal battle with the hotel’s former Indian owner, who challenged the transaction.

AMCON had taken control of the hotel after debts tied to the property were not settled. The agency sold the landmark Lagos hotel as part of its debt recovery efforts.

The apex court confirmed that AMCON acted within its legal powers in disposing of the hotel, clearing the final judicial hurdle. This judgment secures the transaction and validates the debt recovery process.

The decision is a major victory for AMCON, reinforcing its efforts to recover non-performing loans and promote financial accountability in Nigeria’s banking and corporate sectors.