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AMCON seizes Buba Galadima’s assets over N900m indebtedness

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Buba GaladimaBy Babajide Komolafe

ABUJA — Asset Management Corporation of Nigeria, AMCON, has taken over the assets of Alhaji Buba Galadima and that of his company, Bedko Nigeria Limited.

This followed an order a Federal High Court sitting in Abuja.

AMCON in a statement said: “Bedko Nigeria Limited and Alhaji Galadima owe AMCON nearly N900million. The loan was purchased during the first phase of Eligible Bank Assets purchase from Unity Bank Plc in 2011. Since then, AMCON has offered the obligor a good measure of olive branches and explored all avenues to resolve the matter amicably, but the obligor, and his company, Bedko Nigeria Limited have remained recalcitrant and unwilling to repay the huge debt to the Corporation.

“The order, which was granted to AMCON by Justice A. I. Chikere,  gave the government recovery agency the power to take over some properties belonging to the politician. The properties include House No. 15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory (FCT), Abuja and house No. 4, Bangui Street, Wuse 2 also in high-brow area of Abuja.

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“Alhaji Galadima is a prominent Nigerian politician and engineer who formally was the Director-General of the Nigeria Maritime Agency (NMA) from 1996 to 1998. He was appointed National Secretary of the Congress for Progressive Change (CPC) Party, which was formed then in the run-up to the 2011 national elections as a leading platform for now incumbent President Muhammadu Buhari.

“It would also be recalled that Galadima is one of the nine signatories that signed the merger agreement between some political parties that came together, including the All Progressives Grand Alliance (APGA); Congress for Progressive Change (CPC); All Nigeria Peoples Party (ANPP) and Action Congress of Nigeria (CAN) to form the ruling All Progressive Congress (APC), which is the platform on which the current president of Nigeria contested and won the 2015 presidential election.

Vanguard

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