• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News Business

AMCON, Aeroland Travels boss, trade allegations over N1.8 billion debt

... as AMCON takes possession of his property

Abiola Odutola by Abiola Odutola
May 11, 2022
in Business
AMCON, Aeroland Travels boss, trade allegations over N1.8 billion debt
Share on FacebookShare on TwitterShare on Linkedin

The Asset Management Corporation of Nigeria (AMCON) and the owner of Aeroland Travels Limited, Mr Segun  Adewale are currently trading allegations over an alleged N1.8 billion the former claimed the Lagos-based politician is owing.

While AMCON has taken over assets belonging to Aeroland Travels and its directors over indebtedness of N1.8 billion he is owing Polaris Bank, Adewale on the other hand claimed that the bank had refused to grant him access to his N1.77 billion in the bank shortly after the 2015 Lagos West Senatorial Election.

On Friday, May 6, 2022, AMCON took effective possession of the nine properties as listed by the court through its debt recovery agent – Robert Ohuoba & Co. Some of them are 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. 2A John Olugbo Street, Ikeja, Lagos; No. 2 Fadeyi Street, off Awolowo way, Ikeja, Lagos, and No. 14 Jerry Iriabe Street, off Bashorun Okunsanya, off Admiralty Road, Lekki Penisula among others.

RelatedStories

Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 

Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 

June 13, 2025
AMCON

AMCON struggles to recover N4 trillion debt in Nigeria, urges media to hold debtors accountable

March 15, 2025

What AMCON is saying about the debt

In a statement issued by AMCON’s spokesperson, Jude Nwauzor, it stated that the possession was sequel to the order of Honourable Justice D.E. Osiagor of the Federal High Court, Lagos Division.

  • It stated, “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 added that 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.
  • According to Nwauzor, 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.
  • “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,” it added

Aeroland Travels boss reacts

Adewale accused AMCON of illegally sending policemen to seal his business premises over an alleged debt to Polaris Bank.

Adewale explained that 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 the bank some money.

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

According to him, 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.

He said, “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.”


Follow us for Breaking News and Market Intelligence.
Tags: Aeroland Travels LimitedAMCON NewsSegun Adewale
Abiola Odutola

Abiola Odutola

For further inquiries about this article, contact: Email: abiola.odutola@nairametrics.com Twitter: @AbiolaOdutola @nairametrics

Related Posts

Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 
Financial Services

Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 

June 13, 2025
AMCON
Business News

AMCON struggles to recover N4 trillion debt in Nigeria, urges media to hold debtors accountable

March 15, 2025
Keystone Bank now fully owned by FG following Sigma Golf’s dissolution by Court
Company News

Keystone Bank now fully owned by FG following Sigma Golf’s dissolution by Court

February 12, 2025
EFCC, NOUN, Sunflower Hotel
Legal & Regulations

EFCC arraigns ex-AMCON MD, Ahmed Kuru, 4 others for N76bn, $31.5m fraud 

January 20, 2025
Court rules Canadian financier can repossess Arik Air aircraft under Cape Town Convention 
Aviation

AMCON vows to recover N227 billion debt from Arik Air amid liquidation plans 

January 18, 2025
Adrian Wood
Appointments

Ntel appoints former MTN boss, Adrian Woods, as CEO, plans $550 million fundraising  

June 18, 2024
Next Post
Nigeria’s 13-year deficit financing is yet to yield positives

Presidency says it won’t extend tenure beyond May 29 2023

Comments 1

  1. Friday confidence says:
    May 11, 2022 at 6:32 am

    l real need a job

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 
  • South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG
  • 15 things you don’t need to start a business in Nigeria 

Follow us on social media:

Recent News

Sterling Bank concludes core application migration, leads the way for African Banking

Sterling Bank to raise $400 million via debt and equity instruments to strengthen growth capacity and balance sheet 

July 15, 2025
Doctors

South-West doctors threaten strike over unfavorable allowances, issue 21-day ultimatum to FG

July 15, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics