AMCON seizes 2 properties belonging to APC chieftain Demola Seriki over N1 billion debt

 

BY OUR EDITOR

The Asset Management Corporation of Nigeria (AMCON) has seized two properties belonging to a chieftain of the All Progressives Congress (APC) and former Minister of State Defence, Ademola Seriki, over a N1 billion debt.

Following the order of Justice Chuka Austine Obiozor of the Federal High Court, Lagos, AMCON Monday took over the properties in Lagos and Abuja.

The affected properties are located at No. 1A & 1B, Jalupon Close, Surulere, Lagos and No. 4, Djibouti Crescent, Wuse 2, Abuja.

The Non-Performing Loans (NPLs) of Ademola Seriki, according to a statement by AMCON’s Head, Corporate Communications, Jude Nwauzor, was sold to AMCON by the defunct Oceanic Bank and Skye Bank.

“When all efforts to amicably resolve the loan was frustrated by the former minister and a prominent member of the ruling All Progressive Congress (APC), the corporation was left with no other choice than to defer the matter to court.

“Having looked at the case over time, the court ordered AMCON to take over the assets of the APC chieftain,” Nwauzor stated in the statement made available to RELIABLESOURCENG.COM

The total debt stock owed AMCON by obligors is in excess of N5 trillion.

RELIABLE SOURCE NIGERIA