The Assets Management Company of Nigeria, AMCON, has taken over all assets owned by Silverbird Group.
Silverbird Group is accused of owing the government agency about N11 billion.
Policemen have barricaded all properties belonging to the company owned by opposition Peoples Democratic Party (PDP) Senator Ben Murray-Bruce.
Silverbird TV station has stopped live transmission of its programmes, showing only recorded programmes. As at 9:25AM on Wednesday, the screen was blank with nothing being transmitted. It remained so until the time of filing this report.
Guests and staff have also been asked to vacate all premises of the Silverbird TV stations and Cinemas.
The companies affected by the takeover are Silverbird Galleria Limited, Silverbird Promotions Limited, and Silverbird Showtime Limited.
AMCON had, by notice of appointment dated April 18 appointed Muiz Banire as Receiver/Manager over the sprawling assets of the three companies located at 133 Ahmadu Bello Way, Victoria Island, Lagos, Plot No 1161 (Silverbird Galleria); Central Area Cadastral Zone AOO, Abuja; and Abonnema Wharf Road and Abali Park in Port Harcourt City of Rivers State.
The takeover followed the interim orders granted by Justice Cecilia Olatoregun-Ishola of the Federal High Court, Lagos, on June 17 which allowed the Receiver/Manager to take possession of the said properties.
SIGNAL could not reach Senator Ben-Bruce for comments at the time of filing this report.