The Asset Management Corporation of Nigeria (AMCON) has said it has taken over the residence and some properties belonging to Alhaji Buba Galadima, a former associate and critic of President Muhammadu Buhari, over an outstanding indebtedness of nearly N900 million following an order of an Abuja Federal High Court.
The corporation also took over Galadima’s company, Bedko Nigeria Limited and its assets.
“The enforcement on the properties of Bedko Nigeria Limited and Alhaji Buba Galadima is one of the many others that would happen this year given the additional powers AMCON received from President Buhari late last year.
“Recall that aside the fact that the Federal Government set up the Inter-Agency Committee on the recovery of AMCON debt, President Buhari also signed the 2019 Amended AMCON Act into law. The amendment gives AMCON additional powers to go after all obligors of the corporation no matter how highly placed in the society,” the corporation said.
AMCON said it offered Galadima Galadima “a good measure of olive branches and explored all avenues to resolve the matter amicably,” but the politician and his company, Bedko Nigeria Limited, remained recalcitrant and unwilling to repay the huge debt.
Some of the properties of Galadima taken over by AMCON included House No. 15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory (FCT), Abuja and house No. 4, Bangui Street, Wuse 2 also in highbrow area of Abuja.