News have reached us here that the assets owned by Senator Ben Murray Bruce have been seized by AMCON.
The Asset Management Corporation of Nigeria (AMCON) took over Silverbird Galleria early this morning. This is following a court order allowing AMCON to take over the three branches of Silverbird Galleria (the politician’s assets) due to failure to settle an N11 billion Loan. The properties include those at 133 Ahmadu Bello Way, Victoria Island Lagos, Plot no 1161, the plaza at central area Cadastral Zone, Abuja and the branch at Port-Harcourt.
It was revealed to us that Ben Murray Bruce and his brothers Guy Murray Bruce, Michael Murray Bruce, Roy Murray Bruce and his son Jonathan Murray Bruce are listed as defendants in a suit over the loan default. They secured a loan from Union Bank between 2005 and 2007, and after they defaulted in paying back, AMCON purchased the loan in 2011 to save the bank from collapsing. AMCON is now seizing the assets as the loans are still unpaid 5 years later.