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Home » Tussle over Lagos hotel takes new twist as AMCON flouts court rulings, renovates hotel

Tussle over Lagos hotel takes new twist as AMCON flouts court rulings, renovates hotel

by admin


Written By Anthony Iwuoma

Posted By Admin

Published By Fitness Network Communications



Foremost real estate developer in Lagos State Edward Akinlade, has queried the Asset Management Company of Nigeria (AMCON) over the renovation work going on at his hotel against various court decisions.


Akinlade, who is the chairman and Group Managing Director of Suru Group of Companies, explained during a press conference that AMCON forcefully took over his property, Best Western Hotel, located on the highbrow Allen Avenue, Ikeja, Lagos and has refused to let go despite losing all the cases it filed against the company.


He accused AMCON of going ahead to renovate the hotel, which was supposed to be under lock and key pending the determination of an appeal against previous losses by the government agency at the Supreme Court.


Akinlade said AMCON’s action amounted to contempt of court, as it was contrary to the laws of the land to meddle with a matter pending before the courts..

Akinlade claimed that ordinarily his company had no case with AMCON but rather had issues with Ecobank, which sold its performing loan to AMCON.

According to him, by the law setting it up, AMCON was not supposed to buy an active loan.

He stated that his company had won a series of court cases, which were all instituted by AMCON and wondered why the government agency should flout court rulings and interventions, even by the Attorney General of the country and the House of Representatives and go ahead to reconstruct the hotel edifice.


Akinlade addressing the press outside his seized hotel premises.


“This hotel is supposed to be sealed. No work is expected to be taking place here but AMCON is in its possession.

“So, I came here to state our position. Our position is very clear. AMCON said we owed them money and we claimed we didn’t owe them anything.

“They sued us in the Federal High Court before Justice Hassan. We won the case. They appealed to the court of appeal, we won at the court of appeal. They have further appealed at the Supreme Court. The case is coming up in September.

“No work is expected to be taking place here. But AMCON seems to have demolished a substantial part of the hotel, the windows, the floors, and everything. Also, the fear is Lagos state said the building is in danger of falling.

“They have distorted the hotel. A hotel that is worth over N6 billion. What this hotel is worth now is about N500 million. So, you can see how AMCON kills businesses.

“Over 500 people were working in this hotel up till December 2017 when AMCON invaded it with guns without a court order. The court order they brought has nothing to do with us. We went to the Court of Appeal; we overturned it. Instead of AMCON complying, they went to the Supreme Court. So, while the case is at the Supreme Court, you can see what they are doing; illegality upon illegality. They cannot sell the property; they cannot renovate it because it is against the law.

Speaking further, Akinlade stated: “In the last one year, the Attorney General was involved, Public Hearing of the House of Representatives has been involved, AMCON ignored all of them. They didn’t come. And when a resolution was reached through the Attorney General’s Office, AMCON said no.”

He pleaded with both the Federal and Lagos state governments to intervene in the matter and lamented how AMCON has proved to be above the law and continued to act with impunity, wondering at what is currently going on in his hotel.

“Are they the ones working at the hotel? The question now is who owns the hotel? Have they sold the hotel? Who is working there? For what purpose, if we have gotten the Court of Appeal’s ruling in our favour, why are they here? AMCON needs to provide answers to all these.

“I am appealing again to the Attorney General of Nigeria, I am appealing to President Muhammadu Buhari to call Ahmed Kuru to order because if this hotel falls and people die, I would not be held responsible.”

The pressmen were denied entry to the premises to see the real state of the hotel by security personnel on guard at the premises.


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