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Edward Akinlade Cries Out

Edward Akinlade, Group Managing Director of Suru Worldwide Ventures Nigeria has cried out over the takeover of his properties by officials of the Asset Management Corporation of Nigeria (AMCON).

He lamented that AMCON took-over Best Western Plus Hotel, located at 12, Allen Avenue, Ikeja and Victoria Island, Lagos in the early hours of Wednesday, August 30, 2017 for allegedly owing Oceanic Bank now Ecobank the sum of N13.4 Billion.

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He revealed that the company secured a 5-year revolving facility loan of N12.5 billion from Ecobank, which they used as payment for land acquisition in GRA and to build two hotels in Ikeja.

According to him, AMCON unlawfully took over the company’s performing loan in Oceanic Bank and he has sued the bank for selling a performing loan.

He added that AMCON take-over of the hotels is illegal, because the case was adjourned to October 3rd, 2017 after the last sitting a month ago.