The Assets Management Corporation of Nigeria (AMCON) has taken over assets belonging to former governor of Kwara State Abdulfatah Ahmed over N5 billion debt.
AMCON spokesman Jude Nwazor confirmed the incident in a statement on Wednesday, saying that the action followed the order of Justice A.M. Liman of the Federal High Court, Lagos.
“Hon. Liman also ordered the freezing of the Bank Accounts of the former governor and his two companies including Trans Properties and Investment Limited and Trans It Consulting Limited in Suit No: FHC/L/AMC/01/2021,” the statement read.
“The former governor who is one of the founders of the newly established third force in Nigerian politics known as the Rescue Nigeria Project (RNP) is one of the high-profile obligors of AMCON.
“Despite holding one of the highly exalted political offices in the land, he remained recalcitrant over the repayment of his obligation.”
AMCON said that in compliance with the court order, the corporation through the law firm of Robert Ohuoba, 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.
“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,” Mr Nwauzor added.
“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 added that other assets of the former governor, which the court granted AMCON possession over 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.
Ahmed was governor from 2011 to 2019 after succeeding former Senate President Bukola Saraki.
