AMCON takes over mansion of ex-Kwara Governor, Abdulfatah Ahmed, over N5bn debt

The Belongings Administration Company of Nigeria (AMCON) has taken over some homes belonging to former Governor Abdulfattah Ahmed of Kwara State over a N5 billion debt.

AMCON mentioned that the takeover of the homes adopted the order of Hon. Justice A.M. Liman of the Federal Excessive Court docket, Lagos Division, who additionally ordered the freezing of the Financial institution Accounts of the previous governor and his two firms together with Trans Properties and Funding Restricted and Trans It Consulting Restricted.

Confirming this improvement, Head, Company Communications, AMCON, Jude Nwauzor, mentioned: “Early at this time and in compliance with the courtroom order, AMCON by way of the Regulation agency of Chief Robert Ohuoba of Robert Ohuoba & Co, one of many main Asset Administration Companions (AMPs) of AMCON who additionally acquired protecting orders from the courtroom, took possession of the mansion belonging to the previous Governor located at Abdulfatah Avenue, GRA, Ilorin, Kwara State.

“AMCON had taken over the Non-Performing Loans of the former governor and his firms, Trans Properties and Funding Restricted and Trans It Consulting Restricted, from the previous Intercontinental Financial institution, FinBank and Financial institution PHB through the first section of EBA purchases, according to its mandate beneath the AMCON Act.

“All efforts to peacefully resolve the mortgage had been annoyed by the previous Governor who remained recalcitrant, which left AMCON no different selection than to hunt justice in courtroom.

“AMCON needed to begin asset tracing by way of its appointed regulation agency of Robert Ohuoba & Co. on Abdulfatah Ahmed, an train, which additional revealed 9 (9) properties of the obligor situate in Kwara, Lagos State and the Federal Capital Territory (FCT), Abuja, which the Company has plans to implement upon.

“This motion is according to Part 49 (1) of the AMCON Act 2019 (As Amended), which states that: 49 (1)The place the Company has affordable trigger to imagine {that a} debtor or debtor firm is the bonafide proprietor of any movable or immovable property, it could apply to the Court docket, earlier than or on the time of submitting of motion for debt restoration or different like motion or at any time after the submitting of motion, and earlier than or after the service of the originating course of by which such motion is commenced on the debtor or debtor firm, by movement ex-parte for an interlocutory order granting possession of the property to the Company pending the listening to and dedication of the debt restoration or different motion to abide the choice in such motion.

“Different property of the previous Governor, which the Honourable Court docket granted AMCON possession over embody: No 13, Alhaji Masha Street, 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 another landed property in anywhere that could be discovered inside the Federal Republic of Nigeria.”