Buba Galadima to ‘remain on the streets’ after AMCON took over his house

National News Nigeria

A spokesman of the Peoples Democratic Party (PDP) 2019 presidential campaign Buba Galadima has said he will remain “on the streets” until he finds another home after Asset Management Corporation of Nigeria’s order to take over his house.

AMCON on Tuesday announced it has taken over Galadima’s residence and company over debts accumulated to the tune of N900 million.

“This is injustice and attempt to humiliate me. But, God will not let them,” Galadima said.

“They sacked me and over 50 people that sleep in this apartment. We don’t know where to go. We will remain on the streets. We will remain on the streets until God provides another place for us,” Galadima said.

A Federal High Court sitting in Abuja ordered the take over because of N900m loan purchased during the first phase of Eligible Bank Assets (EBAs) from Unity Bank Plc in 2011.

Since then, AMCON said it offered extended olive branches to the obligor and explored all avenues to resolve the matter amicably, but the obligor and his company, Bedko Nigeria remained adamant and unwilling to pay the debt.

The order, which was granted AMCON by Justice A.I. Chikere gave the corporation the power to take over some property belonging to Galadima, including House No. 15, Addis Ababa Crescent, Wuse Zone 4, Abuja, and House No. 4, Bangui Street, Wuse 2 in the FCT.

This latest move by the corporation followed a series of warning to debtors that it would name and shame them if they refused to pay.

The Nigerian Government in January 2019 announced that it will cease to do business with AMCON debtors until they settle their debts obligations.

AMCON has about N5 trillion in its debt books that it has been unable to claim.

The Guardian

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