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N5bn Debt: AMCON takes over ex-Kwara Governor Ahmed’s properties

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The Asset Management Corporation of Nigeria (AMCON) has taken over a mansion and other properties belonging to the former governor of Kwara state, Mr. Abdulfatah Ahmed over a N5 billion debt.

AMCON  said Governor Ahmed is a high-profile obligor of the corporation.

Its spokesperson, Judd Nwauzor, in a statement noted that the ex-governor despite holding “one of the highly exalted political offices” in the country, remained recalcitrant over the repayment of his obligation.

“Early today and in compliance with the court order, AMCON through the Law firm of Chief Robert Ohuoba of Robert Ohuoba & Co, one of the leading Asset Management Partners (AMPs) of AMCON who also received protective orders from the court, took possession of the mansion belonging to the former Governor situate at Abdulfatah Street, GRA, Ilorin, Kwara State.

“AMCON had taken over the Non-Performing Loans of the former governor and his companies, Trans Properties and Investment Limited and Trans It Consulting Limited, from the former Intercontinental Bank, FinBank and Bank PHB during the first phase of EBA purchases, in line with its mandate under the AMCON Act. All efforts to peacefully resolve the loan had been frustrated by the former Governor who remained recalcitrant, which left AMCON no other choice than to seek justice in court”, the statement said.

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It continued, “AMCON had to commence asset tracing through its appointed law firm of Robert Ohuoba & Co. on Abdulfatah Ahmed, an exercise, which further revealed nine (9) properties of the obligor situate in Kwara, Lagos State and the Federal Capital territory (FCT), Abuja, which the Corporation has plans to enforce upon.

“This action is in line with Section 49 (1) of the AMCON Act 2019 (As Amended), which states that: 49 (1) Where the Corporation has reasonable cause to believe that a debtor or debtor company is the bona fide owner of any movable or immovable property, it may apply to the Court, before or at the time of filing of action for debt recovery or other like action or at any time after the filing of action, and before or after the service of the originating process by which such action is commenced on the debtor or debtor company, by motion ex-parte for an interlocutory order granting possession of the property to the Corporation pending the hearing and determination of the debt recovery or other action to abide the decision in such action.”

Other assets of former Governor Ahmed which the court granted AMCON possession over included properties on: No 13, Alhaji Masha Road, Surulere; No. 9 Wharf, Apapa, Lagos; Plot 3632, Cadastral Zone E27 of Apo, Abuja; Plot 4115, Cadastral Zone F14 of Bazango, Abuja; Plot 8502, Cadastral Zone E31 of Carraway Dallas, Abuja; Plot 494, Cadastral Zone E31 of Carraway Dallas, Abuja; Plot 719, Cadastral Zone E23 of Kyami, Abuja.

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May Day: ASUU urges Tinubu, governors to prioritise Nigerian workers’ welfare

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...workers worse hit by worsening economic situation

The Chairman of the Academic Staff Union of Universities (ASUU), University of Ibadan Chapter, Professor Ayoola Akinwole, has implored President Bola Ahmed Tinubu and state governors to make the welfare and working conditions of Nigerian workers a top priority.

Speaking on Tuesday, Professor Akinwole emphasised the dire impact of Nigeria’s socio-economic challenges, particularly exacerbated by the recent fuel subsidy removal backlash and ongoing fuel scarcity, on the working class and their families.

In a statement released to commemorate the 2024 May Day celebration, Akinwole underscored the invaluable contributions of Nigerian workers to the nation’s development, despite enduring undervaluation and inadequate compensation from both government and private sectors.

“Nigerians, particularly the working class, are celebrating 2024 Workers’ day experiencing fuel scarcity,” lamented Professor Akinwole.

“Workers who are poorly paid will still have to pay hiked transportation fare. The inflation in Nigeria is killing, and many are getting malnourished as the cost of food items have skyrocketed.”

He highlighted the disillusionment stemming from unfulfilled promises by federal and state governments to improve wages and working conditions, condemning the stark disparity between government officials’ wealth accumulation and workers’ impoverishment.

Expressing gratitude to Nigerian security forces for their service, Professor Akinwole urged President Tinubu to ensure special welfare provisions for families of those who have lost their lives defending the nation.

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He emphasised that just as education is vital, the welfare of security agencies should be of utmost concern to the president.

Also, Professor Akinwole called upon the President to finalise agreements with ASUU and enhance working conditions for intellectuals in Nigeria, warning of a brain drain if lecturers continue to face inadequate compensation and poor working environments.

“If this trend persists, Nigeria will lose the talent needed to develop the education sector, while those lacking skills will secure employment with little to contribute,” cautioned Akinwole.

He urged the president to address this disparity and collaborate with ASUU to establish a living wage and improved conditions for public university lecturers, recognising them as essential patriots deserving of special consideration.

 

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Court halts Multichoice Nigeria’s tariff increase on DStv, GOtv

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The Competition and Consumer Protection Tribunal (CCPT) in Abuja has issued a restraining order against MultiChoice Nigeria Limited, preventing the company from implementing its planned tariff increase and adjustments to the cost of products and services scheduled to commence on May 1.

Presiding over the three-member tribunal, Saratu Shafii, granted the interim order on Monday, in response to an ex-parte motion presented by Ejiro Awaritoma, legal counsel representing the applicant, Festus Onifade.

In her ruling, Shafii directed MultiChoice to refrain from proceeding with the impending price hike set to take effect from May 1 until the hearing and determination of the motion on notice before the tribunal.

Also, she mandated all involved parties to appear before the tribunal on May 7 at 10 a.m. for further proceedings regarding the motion on notice.

The petitioner, Festus Onifade, filed a lawsuit against MultiChoice Nigeria Ltd and the Federal Competition and Consumer Protection Commission (FCCPC), seeking two specific orders.

These orders include an interim injunction restraining MultiChoice from implementing the impending price increase and any actions that could negatively impact the rights of the claimant and other consumers, pending the determination of the motion on notice.

MultiChoice Nigeria Ltd had previously raised the prices of all its packages on April 1, 2022, prompting legal action from concerned parties.

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Kogi Assembly Urges EFCC to Remove ‘Wanted’ Tag on Ex- Gov. Yahaya Bello

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In a recent session of the Kogi State House of Assembly, members passed a resolution urging the Economic and Financial Crimes Commission (EFCC) to remove the ‘wanted’ tag placed on the immediate past Governor of the state, Yahaya Bello.

The resolution was reached during plenary on Tuesday, following a presentation by Jibrin Abu, the representative of Ajaokuta State Constituency.

Abu brought forth a motion titled, ‘A call to end all false, frivolous, fictitious, and far from the truth smear campaign against the former Governor of Kogi State, Alhaji Yahaya Bello.’

Abu alleged that the anti-graft agency had been engaging in a witch-hunt against Bello, stating, “Kogi State, by allocation standard, is not rich so much so that N80.4b will be missing that the State will not be shaken to its foundation. This claim by the EFCC should be sanctioned and taken as laughable. Innocent Nigerians and Kogi State citizens that bought into the lies should by their personal volition withdraw their support.”

Former Deputy Speaker of the House, Enema Paul, echoed Abu’s sentiments, urging the EFCC to uphold the rule of law.

In his ruling, Speaker Aliyu Yusuf emphasized the importance of the EFCC operating within the boundaries of the law.

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He stated, “This House is not against the EFCC doing their job but they should do it within the ambit of the law and not in a Gestapo way. The country belongs to all of us, so we must respect the law and work with it.”

 

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