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AMCON debunks ‘purported response’ to allegations from Grant Properties promoter, Awosedo


The Asset Management Corporation of Nigeria (AMCON), on Tuesday, debunked a ‘purported response’ in some sections of the online media, which is being presented to the public as the agency reaction to allegations of fraud, oppression raised by Olajide Awosedo, chairman of Grant Properties Limited, against the corporation and Sterling Bank Plc.

Recall, Grant Properties Limited, a property development company, had accused Sterling Bank and AMCON of excising 10 hectares — which land it values at N5 billion — from a 50-hectare collateral and illegally selling it for pittance to a front company of a very senior director of the Sterling Bank.

In a statement signed by Mr. Jude Nwauzor, Head of Corporate Communications, AMCON, noted that the stories are barefaced falsehood.’

The statement reads: “The attention of Asset Management Corporation of Nigeria (AMCON) has been drawn to some sponsored and inaccurate stories on some online publications regarding a pending debt-related issue between one Mr. Olajide Awosedo, the Chairman of Grant Properties Limited and Asset Management Corporation of Nigeria (AMCON).

“We also observed a purported “AMCON response” in some sections of the online media, which is being presented to the public as AMCON’s reaction to the falsehood. The general public is hereby informed that these stories are barefaced falsehood and the Corporation wants to put on record that it did not issue a press statement or a rejoinder in reaction to the said inaccurate stories”

“Pursuant to our mandate, AMCON would not join issues with obligors on the pages of newspapers and as a law abiding recovery agency of the Federal Government of Nigeria, we are guided within the confines of the law and would continue to act accordingly. The public should please disregard this falsehood.”

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