AMCON Seizes Ben Bruce’s Properties Over N11b Debt

Ben-Bruce

Some properties belonging to Senator Ben Murray-Bruce have been taken over by the Asset Management Corporation of Nigeria, AMCON.

It was learnt that officials of the agency stormed Silverbird Galleria in Lagos and other places the “commonsense” lawmaker has properties and put them under lock and keys.

According to what we gathered, AMCON took over the properties after an interim order granted by Justice C. M. Olatoregun of the Federal High Court, Lagos, on June 17 (Suit No. FHC/L/CS/790/16 – Asset Management Corporation of Nigeria & 3 Ors. v. Ben Murray Bruce & 4 others), which allowed the receiver/manager to take possession of the properties.

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On Thursday morning (today), officials of the agency accompanied by security operatives, were seen at the Victoria Island, Lagos office of the popular galleria to seal it.

AMCON had, by notice of appointment dated April 18, 2016, appointed Muiz Banire (SAN) receiver/manager over the assets of the three companies located at 133, Ahmadu Bello Way, Victoria Island, Lagos; Plot No 1161 (Silverbird Galleria) Central Area Cadastral Zone AOO, Abuja; and the magnificent structure located at Abonnema Wharf Road and Abali Park in Port Harcourt, Rivers State.

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It was learnt that Murray-Bruce’s companies owe AMCON the sum of N11 billion, which the companies have defaulted in its payment.

Murray-Bruce, using his companies in 2005 and 2007 respectively, borrowed various sums of money from the Union Bank of Nigeria Plc and has consistently defaulted in his repayment obligations.

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