AMCON Takes Over Ex-Governor, Abdulfatah Ahmed’s Mansion Over N5billion Debt

AMCON has taken over a mansion belonging to Kwara Ex-Governor, Abdulfatah Ahmed over N5billion debt.

The Asset Management Corporation of Nigeria (AMCON) has seized a mansion belonging to the immediate past Governor of Kwara State, Abdulfatah Ahmed, over the alleged N5billion debt he’s owing the corporation.

The property located at No. 9A Abdulrazaq Street, GRA, Ilorin, was taken over by the AMCON on Wednesday following an order by Justice A.M. Liman of the Federal High Court in Lagos.

This was contained in a statement issued on Wednesday titled, “N5bn Debt: AMCON Takes over Mansion of Governor, Abdulfatah Ahmed” which was signed by AMCON Head, Corporate Communications Department, Jude Nwauzor.

Justice A.M 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.

Other assets of the former governor, which the court granted AMCON to take over include: 13, Alhaji Masha Road, Surulere; 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 any other landed property in any place that may be found within the Federal Republic of Nigeria.

AMCON Takes Over Abdulfatah Ahmed’s Mansion

The statement read in part, “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 N5bn.

“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.”

AMCON said it 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 with no other choice but 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)”, he said.

Nwauzor added that other assets of the former Governor which the Court granted AMCON possession over include “No 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 and Plot 8502, Cadastral Zone E31 of Carraway Dallas, Abuja”.

Others are “Plot 494, Cadastral Zone E31 of Carraway Dallas, Abuja; Plot 719, Cadastral Zone E23 of Kyami, Abuja and any other landed property in any place that may be found within the Federal Republic of Nigeria”.

KanyiDaily had also reported how the Federal High Court in Lagos has ordered the AMCON and United Bank for Africa (UBA) to take over a property of former Cross River State Governor, Donald Duke, over an alleged N537 billon debt.