AMCON On Recovery Rampage, Takes Over Properties Worth Billions In Lagos

*A view of one of the properties AMCON took-over in Lagos at the weekend

Few weeks after the Asset Management Corporation of Nigeria (AMCON) humbled Alhaji Buba Galadima by taking over his residence in Wuse area of Abuja as well as his company over a huge debt of the old politician, AMCON has again seized properties in Lagos State that belongs to 12 individuals that owe the government agency billions of naira. Jude Nwauzor, Head Corporate Communications Department at AMCON confirmed the takeover to our correspondent at the weekend.

The properties seized on behalf of AMCON Friday March 6 by Gbenga Dosunmu, who was appointed as receiver-manager was reported to have told journalists that AMCON had to enforce on the properties because despite government efforts, some of the alleged debtors had refused to liquidate their debts.

Listing the seized properties the receiver manager said they  include Elegant Court on Mobil Road Lekki, housing 12 three-storey blocks of 72 luxury apartments, a tennis court and other facilities on 1.802 hectares and a three-storey shopping complex on Mobil Road, Lekki, whose occupants include three churches. The churches include the Redeemed Christian Church of God (RCCG), Dominion City, and Living Word Arena. AMCON enforcement units and bailiffs of the Federal High Court, Lagos, protected by police officers sealed up the properties in execution of an April 11, 2019, order of Justice Rilwan Aikawa.

Justice Aikawa also mandates AMCON led by Mr. Ahmed Lawan Kuru as Managing Director/Chief Executive Officer to recover land measuring 1668.740 square metres along Kirikiri Road, Olodi Apapa; another land measuring 4939.122 square metres on 98 Kudirat Abiola Way, Oregun, lkeja and land at No. 21, Adaranijo Street, Bariga, Somolu. Others are a property at No. 1 Cortex Drive, off Kosofe Street, Ketu; a property at 2, Hilton Close, Off Allen Avenue, Ikeja; and another at 24, Medoyin Street, Kosofe, Ketu (Cortex House).

Aside Cortex Limited, which is an entity, others named in the suit marked FHC/L/CS/521/19, are Succedant Solicitors, Adebimsola Olufunmilade Odunaiya, Olufemi Kehinde Odunaiya, Olushola, Taiwo Odunaiya, Ololade Ososami, and Tolulope Solola. Others include Akin Thomas, Wole Odubanjo, ASCO Quarry Nigeria Ltd, Basorun Rotimi Obeisun, Bosede Obeisun, Oluwamayowa Ayokunle Obeisun, Murufudeen Olabode Abu, and Kehinde Afeez Abu. There are also Abdullahi Kamar, Juliet Kesiena David, Adeyemi Olufunmilade Adekoya, Olufunmilade Moses Adeyemi, Sani Fatima Dabai, and Michael Ayodele Ewuosho.

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