Former Kwara governor, Abdulfatah Ahmed reacts to AMCON takeover of Ilorin property

Former Kwara governor, Abdulfatah Ahmed reacts to AMCON takeover of Ilorin property

The former governor of Kwara State, Abdulfatah Ahmed has reacted to the video making the rounds on social media depicting the takeover of his Ilor

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The former governor of Kwara State, Abdulfatah Ahmed has reacted to the video making the rounds on social media depicting the takeover of his Ilorin property by a lawyer purportedly representing AMCON, describing the takeover as unnecessary and overzealous.

It can be recalled that barely 24 hours after the former governor and some other prominent Nigerians launched the new group, The Rescue Nigeria Project, the viral video was released.

In the viral video recorded by one Chief Barrister Robert Owooba who claims to be a lawyer engaged by AMCON, the property located at 9a, AbdulRazaq street, GRA Ilorin, Kwara State, was seized because the governor is owing a debt to the tune of N5b, and has refused to negotiate means of payment.

Mr Ahmed, through his media aide, Wahab Oba however said that talks were ongoing to resolve previous transactions with two defunct banks.

Mr Oba clarified that the dispute was based on a margin loan he secured from the defunct Intercontinental Bank and Finbank in 2009 for the purchase of shares which was then lumped with unrelated loans obtained by others.

The former governor further explained that the banks held the shares as collateral to sell and recover the loans in the event of a default. However, the banks passed the loans to AMCON instead of selling the shares to recover the loan amount.

He said he was in talks 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.

He gave a firm commitment to meet any outstanding obligations once the loans were disaggregated.