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Galadima Reacts As AMCON Takes Over His Abuja Residence, Company
The Asset Management Corporation of Nigeria (AMCON) on Tuesday took over the business premises and assets of Bedko Nigeria Limited belonging to Buba Galadima, a strong critic of President Muhammadu Buhari.
Mr Galadima, a former political ally of the president, has for years been one of the most vociferous critics of the administration.
A one-time Director-General of the Nigeria Maritime Agency (NMA) (1996 – 1998), Mr Galadima was appointed the National Secretary of the Congress for Progressive Change (CPC) formed in the run-up to the 2011 national elections.
He was one of the nine signatories that signed the merger agreement between some political parties that came together to form the ruling All Progressive Congress (APC), which President Buhari used as a platform for his election in 2015.
The political parties in the merger deal were the All Progressives Grand Alliance (APGA); Congress for Progressive Change (CPC); All Nigeria Peoples Party (ANPP) and Action Congress of Nigeria (ACN).
However, since the president’s election, his relationship with Mr Galadima appeared to have gone sour, with the latter emerging as the leading opposition voice against the administration’s policies and programmes.
On Tuesday, AMCON in a statement in Abuja said the Federal High Court in Abuja issued an order for it to take over Mr Gladima’s properties, including his private residence and company, over alleged N900 million indebtedness.
The order followed a ruling in suit No. FHC/ABJ/CS/1136/2019 against Bedko Nigeria Limited and Mr Galadima, AMCON said.
The spokesperson of AMCON, Jude Nwauzor, said the loan was sourced from Unity Bank Plc in 2011 during the first phase of Eligible Bank Assets acquisition.
“Since then, AMCON has offered the obligor a good measure of olive branches and explored all avenues to resolve the matter amicably. But the obligor, and his company, Bedko Nigeria Limited, have remained recalcitrant and unwilling to repay the huge debt to the Corporation,” Mr Nwauzor said.
AMCON listed the properties to include House No. 15, Addis Ababa Crescent, Wuse Zone 4, Federal Capital Territory (FCT), Abuja and House No. 4, Bangui Street, Wuse 2 also in the high-brow area of Abuja.
AMCON said the enforcement of the order on the properties of Bedko Nigeria Limited and Mr Galadima is one of the many it would be undertaking this year since receiving additional powers from the president late last year.
An Inter-agency Committee on the recovery of AMCON debts was constituted by the President Buhari last year following the signing into law of the 2019 Amended AMCON Act.
The amendment gave AMCON additional powers to go after all obligors of the corporation no matter how highly placed in society.
Mr Nwauzor said AMCON would take all necessary actions, including asset take-over, liquidation, winding-up and garnishee proceedings against Bedko Nigeria Limited and its directors in line with the court judgment and relevant sections of the AMCON Act as amended.
Meanwhile, Mr Galadima has denied knowledge of the allegations of indebtedness against him and his company.
Meanwhile, Mr Galadima has said he and his company are not indebted to AMCON.
“I went to a bank in 2003 to sign for a loan. A letter of credit was opened for me to import fertilizer at that time. But the goods never came. The head office of the bank in America refused to honour the invitation because the Bank in question was under investigation by the FBI (Federal Bureau of Intelligence). I didn’t take one kobo from them. They didn’t even credit my own account,” he said.
Mr Galadima said the collateral was agreed to take effect two or three years after importation of the fertilizer began.
However, he said when AMCON took him to a high court over the money, he protested that he was not satisfied with the judgment and appealed.
He said he won the appeal and the court freed him.
“All this is an attempt to disgrace and break me down. But I am unbreakable and they can never silence me,” Mr Galadima said, blaming his travails to his political opponents.
“This is injustice and attempt to humiliate me. But, God will not let them. They sacked me and over 50 people that sleep in this apartment. We don’t know where to go. We will remain on the streets. We will remain on the streets until God provides another place for us.
“They will surely pay for disgracing and humiliating me publicly. I am going back to court,” Mr Galadima said.
Premium Times
The Super Eagles of Nigeria defeated Egypt 4-2 on penalties to win the Africa Cup of Nations (AFCON) 2025 third-place playoff on Saturday.
Goalkeeper Stanley Nwabali proved the hero of the night with two crucial saves during the shootout, including one from Egyptian star Mohamed Salah.
Ademola Lookman then calmly converted the decisive penalty to secure the bronze medal —Nigeria’s ninth third-place finish in AFCON history.
With neither side able to break the deadlock in a cagey second half, the game ended 0-0, sending the contest directly to penalties.
Despite Fisayo Dele-Bashiru missing Nigeria’s first kick, Nwabali’s immediate saved from Egypt’s first two attempts shifted the momentum.
The Supreme Court has dismissed the appeal of the son of a former Jigawa State governor, challenging the decision of the trial court, which convicted him for failing to declare $40,000 at Kano airport.
In a unanimous decision, the apex court panel dismissed the appeal of Aminu Sule Lamido, the son of former governor Sule Lamido, for lack of merit.
Operatives of the Economic and Financial Crimes Commission (EFCC) arrested Aminu on December 11, 2012, at the Mallam Aminu Kano International Airport while preparing to travel to Cairo, Egypt.
The prosecution said Aminu declared $10,000 to the Nigeria Customs Service (NCS), but was found with an additional $40,000, which was not disclosed on his currency declaration form.
The EFCC charged him before the Federal High Court in Kano on a one-count offence of false declaration of foreign currency, contrary to provisions of the Money Laundering (Prohibition) Act.
On July 12, 2015, the court convicted Aminu and ordered him to forfeit 25 per cent of the undeclared sum to the Federal government.
Dissatisfied with the ruling, Aminu approached the Court of Appeal in Kaduna to overturn the conviction and set aside the forfeiture order.
In a judgment delivered on December 7, 2015, however, the Court of Appeal dismissed the appeal.
Meanwhile, the Supreme Court has ordered that the trial of former governor Lamido, his two sons, and others, over alleged N1.35billion fraud, should continue before the Federal High Court in Abuja.
A five-member panel of the apex court issued the directive in two unanimous judgments, in the two appeals filed by the Economic and Financial Crimes Commission (EFCC).
The Supreme Court upheld the decision of the trial court, which dismissed the no-case submission filed by the Lamidos and held that the defendants had a case to answer.
Both appeals were against the July 25, 2023, judgments of the Court of Appeal in Abuja, which upheld the no-case submission made by Lamido and others and struck out the 37-count charge on which they were being prosecuted, on the grounds that the Federal High Court in Abuja lacked the jurisdiction to hear the case.
In the lead judgments of the Supreme Court, Justice Abubakar Umar set aside the July 25, 2023 judgments of the Court of Appeal and affirmed the earlier decision by Justice Ijeoma Ojukwu of the Federal High Court, Abuja, which overruled the no-case submissions by Lamido and others and ordered them to enter their defence.
The EFCC, in the 37-count charge, among others, accused Lamido of abusing his position as a governor between 2007 and 2015, allegedly laundering sums of money received as kickbacks from companies that were awarded contracts by the Jigawa State Government under his leadership.
The other defendants charged alongside Lamido are his two sons – Aminu and Mustapha; Aminu Wada Abubakar and their companies – Bamaina Holdings Ltd and Speeds International Ltd.
