Assets Management Company of Nigeria, AMCON, has just taken over all assets owned by Silverbird Group.
The Silverbird Group is a Nigerian multinational real estate, media and entertainment company headquartered in Lagos.
Silverbird Group is accused of owing the government agency about N11billion.
AMCON approached the federal high court in Lagos to seek an order to take over the assets of the Silverbird Group, an order which has now reportedly been granted.
Policemen have barricaded all properties belonging to Silverbird Group owned by Senator Ben Murray Bruce.
Guests and staff have also been asked to vacate all premises of the Silverbird TV stations and Cinemas.