Amcon seizes buba galadimas assets over n900m indebtedness

It appears that there is a news article about Asset Management Corporation of Nigeria (AMCON) seizing assets belonging to Buba Galadima, a Nigerian politician, over a debt of N900 million.

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The Asset Management Corporation of Nigeria (AMCON) has seized assets belonging to Buba Galadima, a former ally of President Muhammadu Buhari, over a debt of N900 million. Galadima, who was a key figure in the APC during the 2015 general elections, is said to have defaulted on a loan he obtained from a bank.

According to reports, Galadima had taken a loan of N900 million from a bank, but failed to repay the loan, leading to AMCON taking over his assets. The seized assets include properties, vehicles, and other assets belonging to Galadima.

This development is seen as a major blow to Galadima, who has been a vocal critic of the Buhari administration in recent times. His seizure of assets is seen as a consequence of his failure to repay the loan, and a warning to other defaulters to settle their debts.

It's worth noting that AMCON was established in 2010 to manage and recover non-performing loans (NPLs) from banks. The corporation has been actively pursuing defaulters to recover debts and restore the stability of the banking sector.

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