BREAKING: AMCON Takes Over Prominent Former Governor's Properties over N5bn Debt
- Some of the properties belonging to Abdulfatah Ahmed, former governor of Kwara state, have been marked for seizure
- The Federal High Court in Lagos empowered AMCON to take over the properties belonging to the former governor for failing to repay N5 billion debt
- AMCON explained that Ahmed remained recalcitrant over the repayment of the debt despite being a prominent political office holder
FCT, Abuja - The Asset Management Corporation of Nigeria (AMCON) has taken over a mansion and other properties belonging to Abdulfatah Ahmed, former governor of Kwara state, over a N5 billion debt.
The Cable reported that the Federal High Court in Lagos gave AMCON the order on Wednesday, September 22.
Legit.ng gathers that Jude Nwauzor, AMCON’s spokesperson, said the former governor, who is one of the founders of the Rescue Nigeria Project (RNP), is a high-profile obligor of AMCON.
Nwauzor said despite holding “one of the highly exalted political offices” in the country, Abdulfatah remained recalcitrant over the repayment of his obligation.
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He said all efforts to peacefully resolve the loan had been frustrated by the former governor which left AMCON no other choice than to seek justice in court, Daily Trust also stated.
Nwauzor explained that the action is in line with Section 49 (1) of the AMCON Act 2019 (As Amended).
Legit.ng gathers that the court also ruled that AMCON should take possession of any other landed property owned by Abdulfatah within Nigeria.
AMCON seizes Senator Buhari’s properties
In a similar development, AMCON recently took over assets belonging to Senator Abdulfatai Buhari over an alleged N600m debt taken by his company, Abadat Ventures Limited.
The corporation said 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.
It 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.
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.