House Of Reps Member Owes N145m, Receives Threats Of Sanction From AMCON

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A member of the House of Representative representing Dawakin Kudu/Warawa Federal Constituency of Kano State, Hon. Mustapha Dawakin Bala has been threatened to be sanctioned by the Asset Management Corporation of Nigeria (AMCON).

Bala is allegedly refusing to service debt amounting to N145million.

AMCON has however issued a 14-day ultimatum upon which relevant sanctions will apply. In a letter dated 20th July 2016, signed by Kamar Raji on behalf of Wande Okeya and co., a consortium-Asset Management Partner appointed by AMCON said the need for Dawakin to pay the said N145,980,886.99 became imperative.

According to the letter, “Failure to positively respond to this letter within 14 days of its receipt will leave us with no other choice than to initiate the process of recovery against you in line with the power conferred upon AMCON under the law .”

Raji noted that the lawmaker did not respond to the letter since July.

He stated further that Bala allegedly secured a Bank loan which attracts 21 percent interest per annum, but the loan was not serviced.

 

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