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Rilwan Alesh In Hot Soup

These are not the best of times for Lagos socialite, Chief Rilwan Aleshinloye as he is at the verge of losing his property, Alesh Hotels to the Asset Management Company of Nigeria (AMCON).

Chief Rilwan Aleshinloye

AMCON) has dragged him and his hotel before a Federal High Court over a ₦187.3 million (One hundred and eighty seven million, three hundred thousand naira) alleged debt.

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An affidavit filed before the court alleged that Alesh Hotels International had sometime in 2008 benefited from a ₦100 million loan facility granted by defunct Platinum Habib Bank (Bank PHB).
The facility was secured against a legal mortgage on Alesh International Hotel located at Alesh Hotel Road, Ajah and was duly signed by Chief Aleshinloye in his capacity as Chairman and CEO of Alesh Hotel International.

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AMCON in a statement claimed that Alesh and his hotel evaded paying back the loan and interest upon its due date, leading Bank PHB to serve letters of demand which he ignored.

Having failed to recover the loan, Bank PHB had no choice but to pass it off as a bad debt to AMCON through a loan purchase agreement.

Meanwhile, AMCON is asking the court to compel Chief Rilwan Aleshinloye and Alesh Hotels International to pay the ₦187.3 million outstanding debt as at January 31, 2018 or else forfeit the hotel.