…as AMCON, riot policemen take over his Ilorin GRA mansion
Asset Management Corporation of Nigeria, on Wednesday, commenced the seizure and possession of properties belonging to the former governor of Kwara State, Abdulfatah Ahmed, over a N5billion debt.
Already, AMCON with the aid of armed policemen, had taken over Ahmed’s mansion in Ilorin, the Kwara State capital. Several houses are built inside the premises of the property located at No. 9A Abdulrazaq Street, GRA, Ilorin.
The Corporation’s action followed an order by Justice A.M. Liman of the Lagos Division of the Federal High Court.
AMCON’s spokesperson, Jude Nwauzor, described the former Kwara governor, who is one of the promoters of the newly-formed Rescue Nigeria Project, as a high-profile obligor of the Corporation.
According to Nwauzor, AMCON took possession of the Ilorin property because of the non-performing loans of the former governor and his companies from the former Intercontinental Bank, FinBank and Bank PHB.
He said all efforts to recover the debt from Abdulfatah were unsuccessful until AMCON secured court order on Wednesday.
Justice Liman also ordered the freezing of the bank accounts of the former governor and his two companies – Trans Properties and Investment Limited and Trans It Consulting Limited – in Suit No: FHC/L/AMC/01/2021.
Seven others of the former Kwara governor’s properties also listed by the court for seizure in Abuja and Lagos include the following:
LAGOS
No 13, Alhaji Masha Road, Surulere
No. 9 Wharf, Apapa.
ABUJA
Plot 3632, Cadastral Zone E27 of Apo
Plot 4115, Cadastral Zone F14 of Bazango
Plot 8502, Cadastral Zone E31 of Carraway Dallas
Plot 494, Cadastral Zone E31 of Carraway Dallas
Plot 719, Cadastral Zone E23 of Kyami, Abuja
AMCON’s statement on the development read, “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.
“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.”