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.
A.M. Liman, a justice at the federal high court, Lagos
division, gave AMCON the order on Wednesday.
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.
“Early today and in compliance with the court order, AMCON
through the Law firm of Chief Robert Ohuoba of Robert Ohuoba & Co, one of
the leading Asset Management Partners (AMPs) of AMCON who also received
protective orders from the court, took possession of the mansion belonging to
the former Governor situate at Abdulfatah Street, GRA, Ilorin, Kwara State,”
the statement reads.
“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. All efforts to peacefully resolve the loan had been frustrated by
the former Governor who remained recalcitrant, which left AMCON no other choice
than to seek justice in court.
“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.
“This action is in line with Section 49 (1) of the AMCON Act
2019 (As Amended), which states that: 49 (1) Where the Corporation has
reasonable cause to believe that a debtor or debtor company is the bona fide
owner of any movable or immovable property, it may apply to the Court, before
or at the time of filing of action for debt recovery or other like action or at
any time after the filing of action, and before or after the service of the
originating process by which such action is commenced on the debtor or debtor
company, by motion ex-parte for an interlocutory order granting possession of
the property to the Corporation pending the hearing and determination of the
debt recovery or other action to abide the decision in such action.”
Other assets of the former governor which the court granted
AMCON possession over include properties on: 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.
The court also ruled that AMCON should take possession of
any other landed property owned by Abdulfatah within Nigeria.
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