TUE, FEB 25 2020-theG&BJournal- A Federal High Court sitting in Abuja Tuesday, ordered the Asset Management Corporation of Nigeria (AMCON) to take over the business and assets of Bedko Nigeria Limited and Alhaji Buba Galadima, the self-styled National Chairman for the Reformed-All Progressive Congress (R-APC) and a spokesperson of Peoples Democratic Party (PDP) Presidential Campaign Council-both parties owe AMCON nearly N900 million.
AMCON said the loan was purchased during the first phase of Eligible Bank Assets purchase from Unity Bank Plc in 2011.
‘’Since then, AMCON has offered the obligor a good measure of olive branches and explored all avenues to resolve the matter amicably, but the obligor, and his company, Bedko Nigeria have remained recalcitrant and unwilling to repay the huge debt to the Corporation,’’ AMCON said.
The order, which was granted to AMCON by Honourable Justice A.I Chikere, the presiding Judge in the suit No. FHC/ABJ/CS/1136/2019, gave the government recovery agency the power to take over some properties belonging to the politician.
The properties include House No.15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory (FCT), Abuja and House No.4, Bangui Street, Wuse 2 also in Abuja.
Jude Nwauzor, Head of Corporate Communications of AMCON said the Corporation will take all necessary actions, which include asset take-over, liquidation, winding-up and garnishee proceedings against Bedko Nigeria Limited and its directors, in line with the Court judgement and relevant sections of AMCON Act as amended.
‘’Recall that aside the fact that the Federal Government set up the Inter-Agency Committee on recovery of AMCON debt, President Buhari also signed the 2019 Amended AMCON Act into law.’’
According to AMCON, the amendment gives it additional powers to go after all obligors of the Corporation ‘’no matter how highly placed in the society.’’
Meanwhile, the Managing Director/ Chief Executive of the government recovery agency, Ahmed Kuru says the Corporation has intensified efforts at recovering the over N5trillion outstanding indebtedness to the Corporation.
The AMCON CEO has repeatedly reiterated the fact that AMCON under his leadership will do ‘’whatever it takes within the law to recover the huge debt, and will not mind the status of the obligor in the discharge of the duties of AMCON.’’
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