Former Kwara Governor Abdulfatah Ahmed
By Our Reporter
Former Kwara Governor Abdulfatah Ahmed has opened up on the viral video depicting the takeover of his Ilorin property by a lawyer purportedly representing AMCON, describing the takeover as unnecessary and overzealous.
Mr. Ahmed added that talks were ongoing to resolve previous transactions with two defunct banks.
Ahmed’s media aide Wahab Oba clarified that the dispute was based on a margin loan he secured from the defunct Intercontinental Bank and Finbank in 2009 for the purchase of shares which was then lumped with unrelated loans obtained by others.
The former governor further explained that the banks held the shares as collateral to sell and recover the loans in the event of a default.
Instead, he said, the banks passed the loans to AMCON instead of selling the shares to recover the loan amount.
He said he was in talks with AMCON to separate the liabilities before the lawyer’s overzealous conduct despite knowing the loan amount was in dispute and that reconciliation talks were ongoing.
He gave a firm commitment to meet any outstanding obligations once the loans were disaggregated.
