AMCON seizes a senator’s Properties to cover debt of N600million

AMCON seizes a senator’s Properties to cover debt of N600million.  Senator Abdulafatai Buhari secured a huge loan from GT bank and ignored several reminders to repay the loan.

Properties that belong to Senator Abdulafatai Buhari have been seized by the Asset Management Corporation of Nigeria, AMCON due to the fact that the senator owes a debt of over N600 million.

Senator Buhari, went through his company named Abadat ventures to secure a loan from Guaranty Trust bank(GTB) and declined several reminders sent to the senator to repay the loan. Though the bank gave the Senator time to pay as agreed  before the loan was taken, the Senator refused to respond to the warnings from the bank.

In a statement on Wednesday, AMCON signed by its spokesperson, Jude Nwauzor, said the seizure of Buhari’s assets was in line with an order by Justice I. E Ekwo of the Federal High Court, located in Abuja.

 What Buhari discussed with Akande, Osoba, others in Aso Rock in the statement which  read in part,
“Sequel to the order of Honourable Justice I. E Ekwo of the Federal High Court, Abuja, AMCON has taken over assets belonging to Alhaji Buhari Abdulfatai, Chief Promoter of Abadat Ventures Limited over indebtedness of almost N600m.”
AMCON siezed the properties in accordance with the directives from the high court as a means of collateral for refusing to pay back the loan the senator borrowed from the bank.

 

The Justice named Ekwo made the ruling on March 25, 2021, and in compliance with the enforcement order, AMCON on Friday, June 18, 2021, took effective possession of two properties belonging to Senator Buhari.

The properties that AMCON seized are all located in the federal capital territory of Nigeria, Abuja.

In this case, justice has been served and the Senator will be forced to pay back the loan, or risk losing all his properties that have been seized by AMCON. We look forward to seeing how this particular news progresses and what will be the final fate of Senator Buhari.

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