N900M Debt: AMCON Takes Over Galadima’s Houses, Company - FOW 24 NEWS

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N900M Debt: AMCON Takes Over Galadima’s Houses, Company

Houses and an organization connected to a chieftain of the Peoples Democratic Party (PDP), Alhaji Buba Galadima, were on Tuesday seized by the Asset Management Corporation of Nigeria (AMCON) over a claimed N900 million obligation. 


Galadima was the Director-General of the Nigeria Maritime Agency (NMA) from 1996 to 1998. 

A Federal High Court sitting in Abuja, in Suits No. FHC/ABJ/CS/1136/2019 yesterday requested Asset Management Corporation of Nigeria (AMCON) to assume control over the business and resources of Bedko Nigeria Limited and Alhaji Buba Galadima. 

Directing Justice A.I. Chikere conceded AMCON the ability to assume control over certain properties having a place with Galadima. 

The properties incorporate; House No. 15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory (FCT), Abuja and House No. 4, Bangui Street, Wuse 2, additionally in a high-temples territory of Abuja. 

Bedko Nigeria Limited and Galadima owe AMCON about N900 million. The advance was acquired during the primary period of Eligible Bank Assets buy from Unity Bank Plc in 2011. 

From that point forward, AMCON has offered the obligor a decent proportion of olive branches and investigated all roads to determine the issue agreeably, however the obligor and his organization, Bedko Nigeria Limited, have stayed hard-headed and reluctant to reimburse the enormous obligation to the partnership. 

Having assuming control over the properties, Head of Corporate Communications of AMCON, Jude Nwauzor, said the partnership will take every single fundamental move, which incorporates resource assume control over, liquidation, twisting up and garnishee procedures against Bedko Nigeria Limited and its executives in accordance with the Court judgment and significant segments of AMCON Act as altered. 

He said the implementation on the properties of Bedko Nigeria Limited and Galadima is one of the numerous others that would happen this year, following extra powers given to AMCON by the Federal Government a year ago.
N900M Debt: AMCON Takes Over Galadima’s Houses, Company Reviewed by FOW 24 News on February 26, 2020 Rating: 5 Houses and an organization connected to a chieftain of the Peoples Democratic Party (PDP), Alhaji Buba Galadima, were on Tuesday seized by...

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