The Asset Management Corporation of Nigeria (AMCON) says it has seized assets belonging to Abdulfatai Buhari, a senator from Oyo state over an alleged N600 million debt
AMCON, in a statement on Wednesday, said the loan was taken by the senator’s company, Abadat Ventures Limited, from Guaranty Trust Bank (GTB).
AMCON said a federal high court had graciously directed police, court bailiffs and other security agencies to assist the agency in securing the assets.
“Sequel to the order of Honourable Justice I. E Ekwo of the federal high court, Abuja, the Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Alhaji Buhari Abdulfatai, chief promoter of Abadat Ventures Limited over an indebtedness of almost N600million,” the statement reads.
“Justice Ekwo made the ruling on March 25, 2021, and in compliance to the enforcement order, AMCON went about putting the logistics together and on Friday, June 18, 2021, the corporation took effective possession of the two properties as listed by the court through its appointed receiver-manager – Mr Baba Mohammed Waziri of Baba Waziri & Co. Chambers.
“The enforced properties include property situate at No 12, St, Petersburg Street, Wuse II, Abuja and Plot 516, (also known as No 2. Marte Close), off Misau Crescent, off Birnin Kebbi Crescent, Garki II, Abuja.
“Apart from granting the corporation possession of the above-mentioned properties, the court also ordered the receiver-manager to take all necessary steps required to realise the assets of the obligor, with a view to paying the outstanding loan in line with Section 553 and 554 of the companies and allied matters act, 2020.
“The non-performing loan (NPL) of Abadat Ventures Limited was purchased by AMCON from Guaranty Trust Bank (GTBank) Plc., during the second phase of eligible bank asset purchases in 2021. Since then, the obligor has been unwilling to repay the loan despite the concessions made available to him by the Corporation in a bid to amicably resolve the bad debt.”
The statement added that Buhari and his firm remained recalcitrant despite all efforts, negotiations and windows of opportunity provided by AMCON to enable them to repay the huge debt.
The senate had passed the AMCON amendment bill in April 2021 strengthening the agency in the area of loan recovery.
The amendment bill empowers AMCON to, amongst others, take possession, manage or sell all properties traced to debtors, whether or not such assets or property is used as security/collateral for obtaining the loan in particular.
#EndSARS Memorial: Nigerian youths plan to shutdown Lekki Toll Gate tomorrow
The Nigerian youths have confirmed that the Lekki Toll Gate in Lagos will be shut down tomorrow, Wednesday 20.
According to the youths, the #Endsars Memorial Car Procession will be held at the toll gate from 8 am.
The notifier, shared by Nigerian singer Falz, said the procession is “in memory of the lives lost on the 20-10-20.
“We should all endeavour to stay in our vehicles all throughout the procession and also in groups for safety reasons.
“Please be sure to arrive on time so we can proceed in unity together,” the notifier stated.
This plan was also confirmed by Comedian Mr Macaromi, who shared e-fliers of the car procession and the order of programme on his Instagram page.
Meanwhile Falz, on his part, noted that nothing will stop the procession.
“It is impossible for us not to memorialize our fallen heroes,” Falz stated on Instagram.
However, some youths are also planning a counter-protest titled “Defend Lagos.”
The Defend Lagos group in a trending message said:
“About a year ago, this carnage fell on Lagos State while Lagosians thought it was just going to be a protest. Lagos State was destroyed by End SARS protesters.
“Lagosians are ready to defend Lagos NOW. Never again will Lagos be destroyed.”
Tags: #Endsars Memorial
University of Ibadan loses two students in 24 hours
A 200 level student of the University of Ibadan (UI), Oluwaseun Ayomide Adeyemo, yesterday died in a car accident.
The student of the department of Microbiology was involved in a car accident around Mobil filling station, UI Ojoo axis.
She was rushed to the University Health Clinic popularly known as Jaja but efforts to save her life proved abortive as she passed on due to excessive loss of blood.
Her death came barely 24 hours as the university community was mourning the loss of a 400 level student of the department of History, Adebayo Adegoke.
Adegoke was allegedly shot by robbers around Pre-Boye World Shopping Complex in the late hours of 10:00 p.m. on Saturday.
A source, who preferred anonymity said, the deceased, who lived in Independence hall was shot and efforts to save his life proved abortive as he was unable to make it to the hospital.
The students’ union officials were joined by the Dean Students Affairs, Professor A. Abiona, Head of Department of History and some other students’ leaders to visit the Bodija police station in order to ensure proper investigation is carried out on the deaths.
Another building collapses in Lagos
A building collapsed Monday night at No. 97, Lagos Road in the Haruna area of Ikorodu.
The incident occurred around 10pm. Two persons, a male and a female, were confirmed injured.
The victims are currently at the Ikorodu General Hospital receiving treatment.
At least three persons are trapped but no casualty yet, the National Emergency Management Agency (NEMA) said.
It was gathered that after the structure disintegrated, residents within the area mobilised to carry out initial rescue.
The Fire Service and Police responded on time but could not do much due to unavailability of equipment to lift rubbles.
A rescue operation was ongoing as at press time.
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