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AMCON Seizes Mansion Of Former Kwara Governor over N5 Billion Debt

The Asset Management Corporation of Nigeria (AMCON) has seized the property of former Kwara State governor, Abdulfatah Ahmed. The property agency seized the mansion of the former two-time governor over an overdue N5 billion debt, Punch reports.

AMCON said it is seizing the property of Ahmed in furtherance to the judgement delivered by Justice A.M. Liman of the Federal High Court in Lagos.

“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,” the agency stated in a release titled N5bn Debt: AMCON Takes over Mansion of Governor, Abdulfatah Ahmed.

AMCON said it has seized the mansion of Ahmed in Ilorin, the Kwars State capital, and had traced out nine other properties belonging to the former governor in other parts of the country.

These include 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.

According to AMCON’s head of Corporate Communications Department, Jude Nwauzor, the agency is also acquiring the bank accounts of Ahmed and his two companies which include Trans Properties and Investment Ltd and Trans IT Consulting Ltd. They also taking over Ahmed’s non-performing loans from former Intercontinental Bank, FinBank, and Bank PHB.

“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,” Nwauzor disclosed.

Ahmed is one of the recent founders of the new Rescue Nigeria Project which seeks to restructure the country ahead of the 2023 general elections. Others behind the project include Prof. Pat Utomi and former INEC chairman, Prof. Attahiru Jega.

Ahmed has not responded to the seizure, but AMCON is implementing the court’s order through the law firm of Chief Robert Ohuoba of Robert Ohuoba & Co, one of the leading Asset Management Partners (AMPs) of AMCON.