Tue, Oct

N5billion Debt: AMCON Seize Mansions Belonging To A Former Governor

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The Asset Management Corporation of Nigeria (AMCON) has today announced that it has seized the ownership of some mansions belonging to, Abdulfatah Ahmed, a former Kwara state governor. AMCON said the former governor was accused of failing to repay back personal loans he took at various time from different banks, disclosing that its action was in reaction to court order of Justice A. M. Liman of the Federal High Court sitting in Lagos. Contained in suit no; FHC/L/AMC/01/2021, the statement also revealed that, Justice Liman further ordered the freezing of bank Accounts belonging to former governor Ahmed and his two companies; Trans properties and Investment limited and Trans IT consulting Limited. Former Governor Ahmed despite being a governor of kwara state for two terms, like many other Nigerian big wigs thought he would get away with borrowed money. Amongst the asset taken over by the AMCON is the mansion situated at Abdulfatah Street, GRA, Ilorin, KWara state. According to Jude Nwauzor, Head, Corporate Communication of the Department, “AMCON had taken over the Non-Performing Loans of the former governor and his companies, Trans Properties and Investment Limited and Trans It Consulting Limited, from the former Intercontinental Bank, FinBank and Bank PHB during the first phase of EBA purchases, in line with its mandate under the AMCON Act,” describing it as a successful enforcement.

Nwauzor added that all effort to resolve the matter amicably with the former governor was faced with resistance, and that was why the AMCON had to approach the court.

The statement further revealed that, “AMCON had to commence asset tracing through its appointed law firm of Robert Ohuoba & Co. on Abdulfatah Ahmed, an exercise, which further revealed nine (9) properties of the obligor situate in Kwara, Lagos State and the Federal Capital territory (FCT), Abuja, which the Corporation has plans to enforce upon.

AMCON further disclosed that asset belonging to the former governor which the court has granted the department power to seize include: No 13, Alhaji Masha Road, Surulere; No. 9 Wharf, Apapa, Lagos; Plot 3632, Cadastral Zone E27 of Apo, Abuja; Plot 4115, Cadastral Zone F14 of Bazango, Abuja; Plot 8502, Cadastral Zone E31 of Carraway Dallas, Abuja; Plot 494, Cadastral Zone E31 of Carraway Dallas, Abuja; Plot 719, Cadastral Zone E23 of Kyami, Abuja; and any other landed property in any place that may be found within the Federal Republic of Nigeria.