₦airaland Forum

Court Evicts Ali Baba from Victoria Island Mansion After AMCON’s Sale Declared Illegal

Popular comedian, Atunyota Alleluya Akpobome, better known as Ali Baba, has been evicted from a luxury property in Victoria Island, Lagos, following a Federal High Court ruling reversing its sale by the Asset Management Corporation of Nigeria (AMCON).

On Thursday, August 28, 2025, bailiffs stormed No. 324A Akin Ogunlewe Street, Victoria Island, enforcing a writ of possession signed by Justice Ambrose Lewis-Allagoa on August 15, 2025.

The property, which had housed Ali Baba’s company XQZMOI TV studios, was handed back to the family of its late owner and his firm, Harold Expansion Industries Nigeria Limited.

The disputed property had been sold by AMCON in 2021 for ₦220 million to Ali Baba while litigation was still pending in court.

It was gathered that the comedian was originally a tenant before the corporation forcefully evicted the owner and family, allegedly giving them less than five hours to vacate.

The late businessman, was said to have passed on shortly after the traumatic eviction.

The estate, consisting of two duplexes overlooking the Atlantic Ocean, later became the operational base for XQZMOI TV until last week’s court-ordered eviction.

The dispute traces back to a loan allegedly owed to the defunct Bank PHB (now Keystone Bank).

AMCON claimed that Harold Expansion Industries had accumulated debts amounting to ₦617 million, which it had acquired.

According to AMCON, the loans included ₦60 million (May 2008), ₦20 million (January 2008), and ₦30 million (August 2008).

AMCON argued that despite selling the property for ₦220 million to offset part of the debt, the company remained indebted to the tune of ₦616.1 million.

However, Harold Expansion Industries, represented by its counsel, Benjamin Olayiwola Sadibo, denied the alleged indebtedness.

The company maintained that the ₦129 million facility had been restructured in 2009 and that repayments were being deducted directly by the bank.

The firm subsequently counterclaimed, seeking a declaration that it was not indebted, the reversal of AMCON’s sale, possession of the property, and ₦500 million damages.

In a July 31, 2015 judgment, Justice Lewis-Allagoa dismissed AMCON’s claims, faulting the agency’s failure to provide critical evidence such as the defendant’s statement of account.

He held that the plaintiff carried a “heavy burden of proof,” which it failed to discharge.

Quoting Section 131(1) of the Evidence Act 2011, the judge stressed that AMCON failed to substantiate how it arrived at the claimed debt figure.

He declared that, “The plaintiff, being an alleged creditor, has a duty not only to parade loan documents but also to demonstrate how it arrived at the alleged debt. Its failure to produce the statement of account is fatal to its case.”

On the counterclaim, the court ruled entirely in favour of Harold Expansion Industries, ordering AMCON to return the property, release all title documents, and pay ₦500 million in damages.

Following the writ of possession, bailiffs moved in last Thursday, compelling Ali Baba and his company to vacate.

Court Evicts Ali Baba from Victoria Island Mansion After AMCON’s Sale Declared Illegal | https://www.thenewsacceleratornetwork.com/2025/09/court-evicts-ali-baba-from-victoria.html

What should we call this type of problem?



A-family feud
B-village people feud
C-personal problem

He can still appeal the judgement, and he can still win the case. He has a valid good case, they should look into the lawyer handling the case. Since no prove of indebtedness.

Alibaba should not worry the gods will refund him back his 220 million

But shey no change of ownership??

Kwamecron:
He can still appeal the judgement, and he can still win the case. He has a valid good case, they should look into the lawyer handling the case. Since no prove of indebtedness.

He bought Lis pendens.

He can NEVER win that suit.

Amcon knew they had a bad case, that was why they rushed to sell to an unsuspecting third party.

Alibaba too knew. That's why he bought it cheaply.

Hotfreezer:
He bought Lis pendens.

He can NEVER win that suit.

Amcon knew they had a bad case, that was why they rushed to sell to an unsuspecting third party.

Alibaba too knew. That's why he bought it cheaply.

Serious conundrum........is there anyway for him to seek recompense?
He can sue AMCON and plead damages right?

Ali baba should sue also to get his money back.

Oracle411:
Ali baba should sue also to get his money back.

That is possible. He may successfully sue AMCON and get his money back, or he may lose the case and thus lose even more money.

However, prevention is certainly better than cure.

Due diligence and objectivity would have saved him from buying a property that was clearly "Lis Pendens" (literally, with a "lawsuit pending" ).

This is also an object lesson for all of us: Never ever buy anything that has the even the slightest hint of uncertainty in its ownership.

Why would Ali baba buy a property that was still under litigation? Now bone don hook am for throat.

The disputed property had been sold by AMCON in 2021 for ₦220 million to Ali Baba while litigation was still pending in court.

NaijaphiliaBlog:
That is possible. He may successfully sue AMCON and get his money back, or he may lose the case and thus lose even more money.

However, prevention is certainly better than cure.

Due diligence and objectivity would have saved him from buying a property that was clearly "Lis Pendens" (literally, with a "lawsuit pending" ).

This is also an object lesson for all of us: Never ever buy anything that has the even the slightest hint of uncertainty in its ownership.

What diligence can u do when u are buying something from a big govt agency like AMCON
What could u think could go wrong. This is a Federal government agency. Feared and respected