Ex-Gov. Abdulfatah Ahmed reacts to AMCON takeover of mansion

Abdulfatah-Ahmed

The immediate past Governor of Kwara State, Alhaji Abdulfatah Ahmed, says the reported take over of his Ilorin property by a lawyer purporting to represent AMCON was unnecessary and overzealous due to ongoing talks to resolve previous transactions with two defunct banks.

Solacebase reports that Asset Management Corporation of Nigeria said in a statement on Wednesday that it has seized a mansion in Ilorin belonging to the immediate past Governor of Kwara State, Abdulfatah Ahmed, over his alleged indebtedness to the tune of N5bn.

The statement titled, ‘N5bn Debt: AMCON Takes over Mansion of Governor, Abdulfatah Ahmed’ was signed by its Head, Corporate Communications Department, Jude Nwauzor.

In a statement by the former governor’s media aide, Wahab Oba, Ahmed clarified that the dispute was based on a margin loan he secured from Intercontinental Bank and Finbank in 2009 for the purchase of shares which was then lumped with unrelated loans obtained by others.

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”Reacting to a viral video depicting the takeover of his residence by an individual who claimed to represent the company, Ahmed explained that the banks held the shares as collateral to sell and recover the loans in the event of a default,” said the statement.

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”Instead, he said, the banks passed the loans to AMCON instead of selling the shares to recover the loan amount.”

According to the statement, Ahmed said he was in discussion with AMCON to separate the liabilities before the lawyer’s overzealous conduct despite knowing the loan amount was in dispute and that reconciliation talks were ongoing.

The former governor gave a firm commitment to meet any outstanding obligations once the loans were disaggregated.

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