The Asset Management Corporation of Nigeria (AMCON) on Wednesday announced it has taken over the palatial mansion of Abdulfatah Ahmed, a two-time governor of Kwara State, over an alleged indebtedness of nearly ₦5 billion.
AMCON said in a statement Wednesday, reported by Premium Times, that the action followed the order of Justice A.M. Liman of the Federal High Court, Lagos Division.
“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 said.
“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 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.
The mansion is situated at Abdulfatah Street, GRA, Ilorin, Kwara State, it said.
Jude Nwauzor, Head, Corporate Communications Department of the government debt recovery agency, described the enforcement as successful.
“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.
