- AMCON has taken strong action against a serving APC senator who defaulted in paying a loan taken by his company
- The affected senator is Abdulfatai Buhari who is representing Oyo North senatorial district in the National Assembly
- According to AMCON, Buhari’s properties were seized after a court order was secured to that effect
FCT, Abuja - The Asset Management Corporation of Nigeria (AMCON) says it has taken over assets belonging to Senator Abdulfatai Buhari over an alleged N600m debt taken by his company, Abadat Ventures Limited.
AMCON said in a statement by its Spokesman, Jude Nwauzor, that Senator Buhari who is representing Oyo North senatorial district in the National Assembly took the loan from a first-generation bank and refused to offset it despite repeated reminders, The Punch reported.
The corporation explained that the decision to seize Senator Buhari’s assets was sequel to the order of Justice I. E Ekwo of the Federal High Court in Abuja.
Some of the assets seized by AMCON include a property at 12, St, Petersburg Street, Wuse II, Abuja and Plot 516 off Misau Crescent, off Birnin Kebbi Crescent, Garki II, Abuja.
The corporation said the non-performing loan of Abadat Ventures Limited was purchased by AMCON from the affected bank during the second phase of Eligible Bank Asset purchases in 2021, The Cable also reported.
AMCON accused of demolishing property worth over N400m
In other related news, the founder of the United Network of Youth for Peace and Diplomacy, Mojisola Ogundiran, has alleged that AMCON seized her family's property business by deceiving the court.
Ogundiran said the property, situated in Durban, Wuse 2, Abuja, was seized following a debt issue involving her late father and a first-generation bank. She stated her dad obtained a loan of N40 million from the lender, out of which he later paid N5 million.
The debt was later bought over by AMCON at N20 million. The debt issue has been on before her father passed away in 2015. Ogundiran stated she filed a lawsuit against the government agency to stop it from forcefully taking over their property which has become a source of livelihood for her.