Crime
Ecobank aided AMCON to steal my N5b worth Hotel, Suru Group boss laments
Chairman of Suru Group traces the origin of his problem with AMCON to when Ecobank without notice, sold their performing loan to AMCON.
A leading real estate developer in Lagos State and Chairman, Suru Group of Companies, Edward Akinlade, has sent a Save our Soul (So) call to the Federal and Lagos State governments to intervene in a dispute between his company and the Asset Management Company of Nigeria, AMCON.
The duo has for several years locked horns over ownership of Best Western Hotel, located on Allen Avenue, Ikeja, Lagos.
Addressing a press conference in Lagos, Akinlade accused AMCON of impunity and for distorting the structure of the hotel, which it forcefully seized and still in its possession, against the law.
Akinlade traced the protracted crisis to 2010 when his company was banking with Ecobank.
He said: “Our N13 billion fund was canceled after we had drawn N10 billion. About this time, we had already bought our properties in GRA, Opebi and Best Western Hotel.
“We were servicing our loan until our performing loan was sold to AMCON. AMCON was not supposed to buy servicing loans.
“So, we sued Ecobank for selling our loan, and this case is still at the Federal High Court
“AMCON counterclaimed our case and said we had owed N26 million. It was later discovered that Ecobank had sold our loan to AMCON for N8.3 billion without notifying us.
“We want it to be on record that we have never taken AMCON to court. This is because we believe we have no business with AMCON but the bank which sold our active loan to the agency.
“As we speak, all the cases we had and won, were filed by AMCON and the three different suits were all won by Suru Group.”
According to the businessman: “We are particularly dissatisfied with the blatant disregard for the rule of law being displayed by a highly revered agency, such as AMCON, and Ahmed Kuru being a mechanism in the temple of justice that ought to respect and uphold the tenets of law rather than disrespect the court.”
He said Suru Group had won all the cases instituted against it by AMCON, which has also appealed its losses at the Court of Appeal to the Supreme Court but wondered why it is in a hurry and not waiting for the apex court to rule on the matter it brought before it.
“While the case is at the Supreme Court, you can see what they are doing; illegality upon illegality. They cannot sell the property; they cannot renovate it because it is against the law.”
Akinlade, who is not averse to amicable resolution of the matter, lamented that apart from flouting court rulings, the government agency has also ignored interventions, even by the Attorney general of the country and the House of Representatives and gone ahead to reconstruct the hotel edifice.
“In the last one year, the Attorney General was involved, Public Hearing of the House of Representatives has been involved, AMCON ignored all of them. They didn’t come. And when a resolution was reached through the Attorney General’s Office, AMCON said no,” the Suru Group boss said.
“This hotel is supposed to be sealed. No work is expected to be taking place there but AMCON is in its possession. So, I came here to state our position. Our position is very clear. AMCON said we owed them money and we claimed we didn’t owe them anything.
“They sued us in the Federal High Court before Justice Hassan. We won the case. They appealed to the court of appeal; we also won at the appeal court. They have further appealed at the Supreme Court. The case is coming up in September.
“No work is expected to be taking place there. But AMCON seems to have demolished a substantial part of the hotel, the windows, the floors, and everything. Also, the Lagos State said the building is in danger of falling.”
Akinlade accused AMCON of killing businesses and impoverishing the people.
“They have distorted the hotel; a hotel that was worth over N6 billion. What this hotel is worth now is about N500 million. So, you can see how AMCON kills businesses. Over 500 people were working in this hotel up till December 2017 when AMCON invaded it with guns without a court order.
Akinlade stated that he is confused as regards what is ongoing in his hotel and pleaded with both the Federal and Lagos State governments to intervene in the matter and lamented how AMCON has proved to be above the law and continued to act with impunity.
“Are they the ones working at the hotel? The question now is who owns the hotel? Have they sold the hotel? Who is working there? For what purpose? If we have gotten the Court of Appeal’s ruling in our favour, why are they here? AMCON needs to provide answers to all these.
“I am appealing again to the Attorney General of Nigeria, I am appealing to President Muhammadu Buhari to call Ahmed Kuru to order because if this hotel falls and people die, I would not be held responsible.”
The EFCC has arrested seven suspected internet fraudsters in Benin City, Edo State, following credible intelligence. The suspects were found with luxury items, laptops, and phones
Operatives of the Benin Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested seven suspected internet fraudsters in Benin City, Edo State.
The arrests were made based on credible intelligence about their alleged involvement in internet-related fraud.
Items seized from the suspects include one Lexus car, laptops, and mobile phones. EFCC’s spokesman, Dele Oyewale, confirmed the arrests and stated that the suspects would be charged to court once investigations are completed.
This arrest is part of the ongoing efforts by the EFCC to combat cybercrime and fraudulent activities in the region.
Nine dead and 21 injured in a tragic road crash in Katsina after a trailer carrying cows and humans fell. FRSC urges safer practices.
The Federal Road Safety Corps (FRSC) has confirmed that nine people have died, and 21 others have sustained various injuries in a tragic road crash in Dankama, Kaita Local Government Area, Katsina State.
The incident occurred when a trailer carrying both cows and humans on top became separated from its main body and crashed onto a pavement.
According to FRSC’s Sector Commander, Mr. Aliyu Ma’aji, the driver of the trailer was attempting to avoid hitting a woman who had fallen from an overloaded Golf car carrying beans. The woman’s fall had resulted in the car losing control.
In a statement issued by the FRSC’s Public Relations Officer, Shamsudeen Babajo, Mr. Ma’aji explained that the driver’s efforts to prevent the collision caused him to lose control, leading to the trailer’s detachment and subsequent crash.
As a result, nine people tragically lost their lives, while 21 others were injured. The injured victims were rushed to the Primary Healthcare Center in Kaita for initial treatment, with some referred to Katsina General Hospital and the Federal Teaching Hospital due to the severity of their injuries.
This incident has raised serious concerns over the practice of carrying passengers and animals in overloaded vehicles.
The FRSC Sector Commander urged both drivers and passengers to avoid such dangerous practices, stressing that overloading and recklessness are major contributing factors to road accidents in the region.
Mr. Ma’aji further called on passengers to actively report instances of overloading and unsafe driving practices in order to reduce the number of road traffic incidents.
EFCC launches an internal crackdown with 10 officers detained over theft and corruption allegations, marking a critical test of its accountability.
The Economic and Financial Crimes Commission (EFCC) has initiated a dramatic internal crackdown, detaining 10 officers from its Lagos Zonal Command over serious allegations of theft and corruption.
This bold move, ordered by EFCC Executive Chairman Mr Ola Olukoyede, signals the Commission’s commitment to tackling internal misconduct and ensuring accountability within its ranks.
The officers were apprehended last week and are currently being interrogated regarding the disappearance of several unaccounted-for operational items. The situation has sent shockwaves throughout the EFCC, which has long been regarded as a leading force in the fight against corruption in Nigeria.
Sources close to the investigation suggest that the case has captured significant public attention, casting a spotlight on the EFCC’s internal operations and raising questions about its ability to police itself.
“Investigators are making good progress,” an insider revealed, adding that anyone found guilty will face stringent internal disciplinary measures.
The unfolding scandal presents a crucial test of the EFCC’s resolve in upholding its own standards of accountability. As an institution tasked with eradicating financial crimes and corruption in Nigeria, the EFCC’s credibility is now on the line as it battles to preserve its reputation while addressing these internal breaches.
This incident serves as a stark reminder of the importance of self-regulation and integrity, even for those entrusted with the task of enforcing the law.
The public and officials alike are closely watching how the EFCC navigates this controversy, as the Commission continues to scrutinise its operations and ensure that all its officers uphold the highest standards of ethical conduct.
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