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Bank Take Over Properties Of Ondo APC Guber Aspirant, Over Debt - Politics - Nairaland

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Bank Take Over Properties Of Ondo APC Guber Aspirant, Over Debt by Oluwamarc(m): 1:04am On Jun 29, 2020
The Assets Management Company of Nigeria (AMCON) has seized the Akure private residence of the pioneer State Chairman of APC in Ondo State and also a governorship aspirant of the party, Hon. Isaac Kekemeke.
A reliable source revealed that the

huge debt owed a leading commercial bank by Kekemeke became a non-performing loan when it was not serviced for a number of years. According to the source, non-performance of the hugely accumulated debt had necessitated the transfer of the debt to AMCON by the concerned commercial bank.

Moreso, the source added that AMCON is also considering the take over of more than 100 plots of land belonging to Kekemeke along Oba-Ile road, beside Jojein Hotel in Akure. It was also revealed that the immediate take over of the land by AMCON appears the only way out for the former Ondo State APC Chairman in view of the enormity of the total accrued debt.

However, different legal opinions have been given on the recent move of AMCON against Kekemeke; who is also contesting for the governorship position of Ondo State on the platform of APC. An Akure based lawyer who pleaded anonymity said Kekemeke could still not be considered bankrupt in the eye of the law. Although, he emphasized that Kekemeke could as well be considered a technically insolvent person for now.

Meanwhile, the lawyer reiterated that the Nigerian constitution did clarify that a bankrupt person cannot contest any elective position. He also added that anyone that is pronounced bankrupt by a court of competent jurisdiction could no longer occupy any position of trust. He was however quick to add that being insolvent was not the same as bankruptcy.

The lawyer however opined that it was not morally improper for any individual who appeared to have failed in the management of his personal finance to still aspire to preside over the management of the finance and resource of an entire state.

https://citadelng.com.ng/2020/06/29/exclusive-bank-take-over-properties-of-ondo-apc-guber-aspirant-kekemeke-over-debt/

Re: Bank Take Over Properties Of Ondo APC Guber Aspirant, Over Debt by Oluwamarc(m): 1:05am On Jun 29, 2020
A
Re: Bank Take Over Properties Of Ondo APC Guber Aspirant, Over Debt by Sammy07: 1:09am On Jun 29, 2020
And this man is a bit popular

Populary known as D1

He's a Law graduate, he's the Founding / Principal Partner of D.I Kekemeke & Co legal practitioners and the Executive Director, Legal & Strategy International Strategic Management Institute.

He was honourable member/minority leader, Ondo State House of Assembly (1992-1993). He was the pioneer Chairman, Board of National Examinations Council (NECO) for 3 years (2001-2004). He was the Attorney –general and Commissioner for Justice, Ondo state for 2 years (2003-2005) and Ondo State Commissioner for Works, lands, and housing between 2005-2007. He was also Secretary to Ondo state government (SSG) 2007-2009 all during Olusegun Agagu administration.

He was also a Member –Niger delta technical committee 2008. Aside from this Hon. Kekemeke had also held party office positions, he was Member PDP Constitution Drafting Committee in 1998. He was the Pioneer PDP Secretary Ondo State chapter in 2007-2009 and the Pioneer Chairman APC, Ondo State (2014-2018).
Re: Bank Take Over Properties Of Ondo APC Guber Aspirant, Over Debt by zakim(m): 1:12am On Jun 29, 2020
g
Re: Bank Take Over Properties Of Ondo APC Guber Aspirant, Over Debt by budaatum: 1:15am On Jun 29, 2020
Amazing! We are finally implementing bankruptcy laws in Nigeria.

Next would be all those companies with unserviced debt thereby freeing up funds for more productive ventures.

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