The Assets Management Corporation of Nigeria, AMCON has seized the property belonging to the former Governor of Kwara State, Alhaji Abdulfatah Ahmed over a debt of Five Billion Naira (N5 Billion) the corporation claimed he collected while serving as the governor of the state.
This was revealed in a viral video by the AMCON lawyer and Debt Recovery Officer, Barrister Robert Ohoba engaged by the corporation to recover the debt incurred by the ex-governor.
In the video, the narrator named Chief Barrister Robert Ohoba showed the premises of the mansion located at 9a Abdulrazaq Street GRA, Ilorin with 35 armed policemen.
The Lawyer said Abdulfatah Ahmed was given several opportunities to negotiate with the authority but refused to comply.
This according to him, however, negates the law to take its course as the law is not a respecter of anyone.
He added that the property would remain sealed pending when the debt of N5 billion is settled and the one owed by his company- Trans International Property Limited and Trans IT Limited.
Barrister Robert in the video also informed the public that his properties in Abuja would also be seized.
Swift Reaction
Reacting to the development, the former Governor of Kwara State, Alhaji Abdulfatah Ahmed, says the reported take over of his Ilorin property by a lawyer purporting to represent AMCON was unnecessary and overzealous due to ongoing talks to resolve previous transactions with two defunct banks.
In a statement by his media aide, Wahab Oba, Ahmed clarified that the dispute was based on a margin loan he secured from Intercontinental Bank and Finbank in 2009 for the purchase of shares which was then lumped with unrelated loans obtained by others.
Reacting to a viral video depicting the takeover of his residence by an individual who claimed to represent the company, Ahmed explained that the banks held the shares as collateral to sell and recover the loans in the event of a default.
Instead, he said, the banks passed the loans to AMCON instead of selling the shares to recover the loan amount.
Alhaji Ahmed said he was in talks with AMCON to separate the liabilities before the lawyer’s overzealous conduct despite knowing the loan amount was in dispute and that reconciliation talks were ongoing.
The former governor gave a firm commitment to meet any outstanding obligations once the loans were disaggregated.
Nnenna.O
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