N600m Debt: AMCON’s Take Over Of My Property Political, Says Buhari

The Senator representing Oyo North Senatorial District, Senator Abdulfatai Buhari has said his company did not owe Guarantee Trust Bank the N600m claimed by the Asset Management Corporation of Nigeria.

AMCON had during the week announced the take over two of the lawmaker’s property in Abuja over the debt.

But Buhari, while speaking with journalists on Friday in Ibadan described the seizure of his properties as the handwork of some politicians.


The lawmaker said such alleged blackmail was expected because election year was fast approaching.

Buhari said, “It was not a loan but it was a partnership. We entered into a partnership that they would release cars to us and GTB would stand for us as a guarantor. PAN would now send receipt to GTB.

“If customer pays us, we would pay GTB. However, GTB stand for us as guarantor for only one month but a day after one month, they would be charging us 18 per cent but GTB was charging 30 per cent.

“When we discovered this, we charged them to court and the case is still in court. They sent a letter to AMCON that we are owing them N100m. Since 2013, AMCON now said the money is N600m in 2021.

“They said because I am the chairman of Abadat motors, I should come and pay. If you read a statement issued by my lawyer, you will discover that the court has not given judgement.

“Nothing has happened and they went behind me that they want to sell my property. I know 2023 is knocking such is expected from politicians. But I know that the law of the country is greater than any individual. I hate it and I hate to find myself in a mess like this.”


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