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N1.8bn Debt: AMCON Takes Over Aeroland Travels’ Assets - PorscheClassy Media
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N1.8bn Debt: AMCON Takes Over Aeroland Travels’ Assets

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The Asset Management Corporation of Nigeria said it had taken over assets belonging to Aeroland Travels Limited, and its director’s over-indebtedness of N1.8bn.

A statement from AMCON spokesperson, Jude Nwauzor, said this was a sequel to the order of Honourable Justice D.E. Osiagor of the Federal High Court, Lagos Division.

It stated that “It would be recalled that Justice Osiagor gave the ruling on February 7, 2022, and in compliance to the enforcement order of the court, AMCON put logistics together, and on Friday, May 6, 2022, took effective possession of the nine properties as listed by the court through its debt recovery agent – Robert Ohuoba & Co.

“The properties include those situated at Plot 4 & 4B Block 66 Magodo Scheme, Lagos State; Plot 9, Block 44c, Adetoro Adelaja Street, Magodo Lagos; No. 4C Maye Ogundana Street, Magodo Lagos; No. 10 Oluyomi Oshinkoya Street, Magodo Residential Scheme, Lagos; Plot 8, Block 66, Residential Scheme, Sangisha, Lagos; No. 2A John Olugbo Street, Ikeja, Lagos; No. 2 Fadeyi Street, off Awolowo way, Ikeja, Lagos; No. 8 Surulere Alelor Street, Millenium, Gbagada; and No. 14 Jerry Iriabe Street, off Bashorun Okunsanya, off Admiralty Road, Lekki Penisula.”

The statement said the court also ordered the freezing of the bank accounts and shares of the company’s directors, including Mr. Segun Adewale and Mrs. Victoria Adewale.

It added that the court additionally granted AMCON rights to seize any other landed property in any other place that might be found within the jurisdiction of the Federal High Court belonging to Aeroland Travels Limited or either of its directors.

Nwauzor said all the property as listed in the court order had been taken over by AMCON with the assistance of court bailiffs and other officials of the law.

The statement said, “AMCON had purchased the non-performing loan of Aeroland Travels Limited from Polaris Bank (formerly Skye Bank) in 2018.

“Until the coming of the order of the court, all previous efforts by AMCON and its representatives to resolve the debt amicably with the obligor had proved abortive, which was why the corporation resorted to the court for justice.”

Meanwhile, the owner of Aeroland conglomerates, Otunba Segun Adewale, has accused AMCON of illegally sending policemen to seal his business premises over an alleged debt to Polaris Bank.

In a statement made available to our correspondent, Adewale said he was surprised to see police officers invading the premises of his air travel agency located on John Olugbo Street, Ikeja, Lagos, on Friday, ordering him and his workers out over an allegation that he was owing to the bank some money.

On the contrary, Adewale claimed that Polaris Bank had refused to grant him access to his N1.77bn in the bank shortly after the 2015 Lagos West Senatorial Election.

The businessman claimed that he took the bank to court in 2018 over his seized money and that neither the officials of the bank nor its lawyers appeared in court, only for them to accuse him of owing them and got an exparte order to seal his property.

“We will approach the court and the judge would see to the matter. They swore to an oath and lied when they ought to pay me my money,” he said.

BIG STORY

DSS Files Fresh Terrorism Charges Against Ekpa-Linked IPOB Commanders, Secures Conviction Of ISWAP Leader

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The Department of State Services has expanded its counter-terrorism operations with new charges filed against seven individuals identified as operatives of the proscribed Indigenous People of Biafra, while also confirming the conviction of a senior commander of the Islamic State West Africa Province.

In a statement issued on Wednesday, the agency disclosed that three separate terrorism cases—FHC/ABJ/CR/632/2025, FHC/ABJ/CR/633/2025 and FHC/ABJ/CR/634/2025—had been submitted before the Federal High Court in Abuja. The Service described the defendants as IPOB commanders, Eastern Security Network fighters, arms couriers and logistical operatives involved in violent activities across the South-East.

According to Favour Dozie, Deputy Director of Public Relations and Strategic Communications, the accused persons were allegedly connected to Finland-based agitator Simon Ekpa, who is currently serving a six-year sentence in Finland for terror offences. The Service alleged that the group received financial support, materials and operational direction from Ekpa and other partners abroad to carry out attacks in Nigeria.

The statement also named Ibrahim Ali Larabo as a central suspect within the network. Described as an illegal immigrant from Niger Republic running an unlicensed Bureau de Change, Larabo was separately charged with terrorism financing. The DSS alleged that he managed substantial financial transfers for the Ekpa-linked structure, supporting the funding of IPOB and ESN operations.

The Service said the new charges were part of a broader nationwide clampdown ordered by its Director-General, Oluwatosin Adeola Ajayi. It noted that upon assuming office in August 2024, Ajayi directed a full review and forensic reinvestigation of all terrorism cases inherited by the agency.

The DSS further reported ongoing prosecutions involving several high-profile suspects. These include two internationally wanted militants, Mahmud Muhammad Usman, also known as Mamuda, and Abubakar Abba, also known as Abu Baara, whose trial is scheduled to resume on January 15, 2025. The Service added that proceedings also continue for Khalid Al-Barnawi, identified as the alleged mastermind of the 2011 United Nations building bombing in Abuja.

In addition, five suspects are facing trial in connection with the June 5, 2022 attack on St Francis Catholic Church in Owo, while ten others are being prosecuted for lethal assaults recorded in Benue and Plateau states.

The Service disclosed plans to arraign another suspect, Abdulazeez Obadaki, also known as Bomboy, described as a re-arrested ISWAP commander. According to the DSS, he allegedly confessed to involvement in attacks on St Francis Catholic Church in Owo and the Deeper Life Church in Okene. The arraignment will also include Musa Abubakar, described as a major arms manufacturer and supplier arrested in Plateau State.

The latest enforcement update came as the DSS announced the conviction of an ISWAP senior commander identified as Ismaila, also known as Mai Tangaran. The Service said he pleaded guilty on Tuesday before Justice Emeka Nwite of the Federal High Court in Abuja.

According to the court proceedings, Ismaila coordinated the 2012 assault on the Police Headquarters in Bompai, Kano. Justice Nwite convicted him on a four-count charge under the Terrorism Prevention (Amendment) Act, 2013, sentencing him to 15 years on count one and 20 years each on counts two, three and four, with the sentences to run concurrently.

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UPDATE: Judge Labels Nnamdi Kanu ‘International Terrorist’

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Justice James Omotosho of the Federal High Court in Abuja on Thursday described Nnamdi Kanu, leader of the proscribed Indigenous People of Biafra, as an “international terrorist” based on allegations that he issued threats to bomb the United States Embassy and attack a former British High Commissioner to Nigeria, Catriona Laing.

The characterisation was made while the court delivered judgment on count six of the charges before it, with the judge outlining the basis for his conclusion.

In his ruling, Justice Omotosho stated that Kanu’s alleged threats extended beyond Nigeria’s borders, saying the defendant was “not only a confirmed local terrorist” but also an international threat due to his comments targeting diplomatic missions. The judge said this assessment was informed by broadcasts in which Kanu mentioned the British High Commission, the American Embassy, and made remarks directed at Laing, whom he referred to as a “known woman of peace.”

The court further held that a broadcast in which Kanu allegedly directed graduates of Chemical Engineering and Chemistry to manufacture Molotov cocktails constituted an act of terrorism, adding that such instructions demonstrated a willingness to incite violence.

Quoting from a broadcast dated October 21, 2020, Justice Omotosho said Kanu urged his followers “to go to the bush” and attack any military or police convoys they encountered. The court noted that the defendant also described security personnel as enemies who “also bleed.”

The judge cited additional excerpts from the same broadcast, including allegations Kanu made about “Radio Baifra” being compromised and remarks concerning Britain’s alleged role, saying the statements showed a disposition toward violence and reinforced the terrorism-related counts against him.

Justice Omotosho said that comments targeting international protected persons, including ambassadors and high commissioners, fall under offences carrying life imprisonment. He stressed that allowing such alleged actions to continue could have triggered diplomatic crises involving Nigeria and partner nations.

According to the judge, the allegations of threats against embassies and diplomatic officials were incompatible with any claim to agitation for self-determination, adding that the statements illustrated a “criminal tendency” and provided “concrete proof” of terrorist conduct.

The court concluded that the prosecution had successfully proven the relevant counts and consequently entered a conviction against Kanu on those charges.

Kanu has been held in the custody of the Department of State Services since June 2021 after he was rearrested abroad and returned to Nigeria to face terrorism-related allegations, including treasonable felony and incitement.

His trial has experienced numerous delays, while his legal team has maintained that his extraordinary rendition and continued detention breach both domestic and international legal standards.

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NIHOTOUR Unveils “Tastes Of Culture 2025″: A Week Of Food, Fashion, Culture And Community Impact In Abuja

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The National Institute for Hospitality and Tourism (NIHOTOUR) has announced that this year’s Tastes of Culture festival will hold from December 1st to 6th, 2025, at Eagle Square in Abuja. The event, which has grown into one of Nigeria’s biggest cultural gatherings, will be hosting thousands of guests for a special royal-themed dining experience and a major cultural showcase.

According to the organisers, the 2025 edition will highlight the beauty of Nigeria’s different tribes through food, fashion, music, storytelling and traditional performances. NIHOTOUR explained that the goal is to remind Nigerians of the richness of their heritage at a time when cultural pride is becoming even more important.

The week long programme will open with a food and beverage festival featuring local dishes, street food favourites and culinary displays from different regions. The middle of the week will focus on masterclasses for people in hospitality, tourism and the creative industry. The grand finale, tagged “Oriki: A Royal Dining Experience,” will bring together regional cuisines, traditional fashion, cultural entertainers, praise singers, drummers, live bands and a unity menu created by respected chefs.

One of the standout parts of this year’s event is its community focus. After the celebration, the large outdoor dining setup will be dismantled and the materials will be used to build desks and chairs for rural schools. NIHOTOUR says this is their way of ensuring that the event leaves a lasting impact beyond the festivities.

The organisers will also be launching a new publication, The 60 National Recipes Book, which compiles iconic dishes from all parts of the country. The book is designed to help preserve culinary knowledge and promote Nigerian food tourism.

Thousands of guests, cultural groups, chefs, tourism players, traditional leaders and entertainers are expected to attend. Entry will be strictly by invitation, and guests are encouraged to show up in their full traditional attire to reflect the theme of cultural pride and unity.

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