Court adjourns Buba Galadima, AMCON case till April 20

Justice Anwuli Chikere of a Federal High Court, Abuja on Thursday adjourned until April 20 the suit filed by the Asset Management Corporation of Nigeria (AMCON) to take-over the assets of Alhaji Buba Galadima and his company, Bedko Nigeria Limited.

Justice Chikere, adjourned the matter after counsel to AMCON, Akpama Ekwe, told the court that the corporation would respond to applications filed by counsel to parties seeking to be joined in the case within seven days.

While Bedko is the first defendant, Galadima is the second defendant in the case.

Justice Chikere had recently ordered AMCON in suit nunber FHC/ABJ/CS/1136/2019 to take -over the business and assets of Galadima and Bedko Nigeria Limited.

Bedko Nigeria Limited and Buba Galadima are alleged owing AMCON about N900 million through a loan purchased during the first phase of eligible bank assets from Unity Bank Plc in 2011.

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Since then, the corporation said it offered extended olive branches to the obligor and explored all avenues to resolve the matter amicably, but the obligor and his company remained adamant and unwilling to repay the debt.

The order, which was granted AMCON by the judge, gave the corporation the power to take- over some property belonging to Galadima, including House No. 15, Addis Ababa Crescent, Wuse Zone 4 and House No. 4, Bangui Street, Wuse II both in Abuja.

Galadima, a politician was the former director-general of the Nigeria Maritime Agency (NMA) from 1996 to 1998 and was appointed national secretary of the Congress for Progressive Change (CPC), which was formed in the run-up to the 2011 general elections.