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Business man places 3 houses in Zamfara on auction over N137m debts

Business man places 3 houses on auction over N137 million debts

A business man, Hon Abayomi Olufemi, has asked the Abuja High Court for an order to auction three houses in Abuja belonging to the Zamfara State government over non-payment of N137 million debts.

The houses are situated at No. 4, Zangha Street, off Mississipi Street, Maitama, and at the Ground Floor, NDIC Quarters, Federal Housing, Limpopo Street, Maitama, Abuja, respectively.

The said houses, according to an affidavit of urgency dated 20th December, 2017 and deposed by the business man, who is the chairman of Option One Agritrade Nigeria Limited, are to satisfy the earlier judgment of the court that ordered for the levy execution on the movable property of the judgment debtor.

Olufemi had earlier auctioned the movable property of the state government found at its house located at No. 4, Zangha Street, Off Mississipi Street, Maitama, Abuja, for N4,307,847.05, in January, 2018.

Also in the affidavit in support dated 20th December, 2017, and filed before the court, Olufemi alleged that he supplied 1000 pieces of wheel dustbins to the state government between 2010 and 2011 but the was not paid.

Justice Bello Moh’d Tukur  said that the state government should pay the sum of 32million to Olufemi as the outstanding debt for the contract he executed for the Judgement debtor (Zamfara state government).

Also, the court awarded the 21 percent interest annually on the outstanding debt from 1st June, 2012 until the whole debt is liquidated, and sum of N500,000 as the cost of litigation for the recovery of the debt.

In suit No: FCT/FJ/29/2017, the Counsel to Olufemi, Chief Afolabi Fashanu, SAN, asked Abuja High Court presided over by Justice Y. Halilu to enter the Judgment of Gusau High Court as its own and the order was granted on 7th September, 2017.

Fashanu in his written address sought the leave of the court to attach immovable property of the Zamfara State Government lying in Maitama, Abuja to satisfy the debt judgment in favour of Olufemi. He claimed that debt owed by the judgment debtor now stands at N137million because of the annual interest on the outstanding debts.


Credit: Leadership

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