Senator Ben Bruce in ₦11 billion naira scandal

The Asset Management Corporation of Nigeria (AMCON) today took control of three companies belonging to “Common sense Senator,” Senator Ben Murray Bruce.

AMCON appointment Muiz Banire on 18th April as Receiver/Manager over Ben Bruce’s company in Victoria Island, Lagos; Central Area Cadastral Zone, Abuja; and Abonnema Wharf Road Port Harcourt.

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AMCON took over the companies following a court order issued by Justice Cecilia Olatoregun-Ishola of the Federal High Court, Lagos, on June 17.

The order granted the Receiver/Manager to take possession of the three properties.

The order was issued because Ben Bruce’s companies are owing AMCON a total amount of N11 billion. The companies have refused to pay.

Legal adviser to the Receiver/Manager, Kunle Adegoke, said the takeover meets all legal standards.

“Aside from the fact that the receivership was done pursuant to deeds of legal mortgages duly executed by the three companies and guaranteed by Ben Murray Bruce and four of his brothers, there is a court order backing same up.

“It must be borne in mind that innocent depositors’ money is what the Common sense propagator and his brothers have been living large and feeding fat upon without recourse to the interest of the real laborers who own the money.”

Ben Bruce tool several loans from Union Bank between 2005 and 2007. He has refused to pay back the loans, hence the action.

“The said loan was purchased by AMCON in 2011 after the capital base of Union Bank was terribly shaky.

“And the Commonsense senator has persistently failed to pay the loans and yet has been pretending to be concerned with the welfare of Nigerians.

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Since Ben Bruce, who says he has never flown on first class, refused to pay back the bailout funds given him by the Federal Government through AMCON, the later took possession of the companies.

Police men and AMCON officials ensured the takeover.