AMCON seizes ex-gov Abdulfatah’s properties over N5bn debt

The Asset Management Corporation of Nigeria (AMCON) has seized some properties belonging to the former Governor of Kwara State, Abdulfatah Ahmed; over an alleged N5billion debt.

AMCON disclosed this in a statement titled: “N5bn Debt: AMCON Takes over Mansion of Governor, Abdulfatah Ahmed,” issued on Wednesday by its Head of Corporate Communications Department, Jude Nwauzor.

The agency said the seizure of the ex-governor’s properties followed an order by Justice A.M Liman of the Federal High Court, Lagos.

READ ALSO: AMCON seizes Senator Buhari’s assets over N600m debt

AMCON said it took over the non-performing loans of the ex-governor and his companies, Trans Properties and Investment Limited and Transit Consulting Limited from the former Intercontinental Bank, FinBank and Bank PHB during the first phase of EBA purchases in line with the mandate under the Act establishing it.

The affected properties include a mansion at Abdulfatah Street, Government Reservation Area (GRA), Ilorin, Kwara State and others in Lagos and Abuja.

These are houses at 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; and Plot 494, Cadastral Zone E31 of Carraway Dallas, Abuja.

The statement read: “AMCON on Wednesday, September 22, 2021, in Ilorin, the Kwara State, capital took over the palatial mansion of Alhaji Abdulfatah Ahmed, the former two-time governor of Kwara State over a staggering indebtedness of nearly N5billion.

 “Justice 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 former governor who is one of the founders of the newly established third force in Nigerian politics known as the Rescue Nigeria Project 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.

“All efforts to peacefully resolve the loan had been frustrated by the former governor who remained recalcitrant, which left AMCON no other choice but to seek justice in court.”

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