• SAYS EVICTION OF OLATONE ABDULSALAM VENTURES LTD IS “ILLEGAL ENFORCEMENT”

House of Representatives Directs AMCON to Restore Olatone Abdulsalam Ventures Ltd to Complete Lease Term on Property, Tells IGP to Discipline Officers for Illegal Enforcement

The House of Representatives has directed the Asset Management Corporation of Nigeria (AMCON) to restore Olatone Abdulsalam Ventures Limited to the leased property at 18A Ladipo Oluwole Street, Apapa GRA, Lagos, to enable the company complete the remainder of its lease.

The lower chamber also directed the Inspector-General of Police (IGP) to “investigate and discipline officers who participated in the illegal enforcement.”

The resolution followed a petition filed at the The petition was heard by the House of Representatives Committee on Public Petitions by Funmi Adeogun & Co. on behalf of Olatone Abdulsalam Ventures Limited.

The petitioner alleged that AMCON, in collaboration with some of its officials, forcefully evicted the company from the property despite pending court proceedings. The petitioner claimed that the eviction was carried out without due process and resulted in extensive destruction of the property and business losses.

According to the petitioner, the relationship between the company and AMCON began in 2019 when both parties entered into a three-year lease agreement over the property. The petitioner stated that it invested over ₦89 million in renovating the premises after taking possession, based on an understanding that it would enjoy a right of first refusal should AMCON decide to sell the property.

The company alleged that after hearing that AMCON intended to dispose of the property, it formally expressed interest in purchasing it and later sought an extension of its lease by forwarding a ₦5 million manager’s cheque to AMCON. However, it claimed that the request was rejected and that some officials allegedly attempted to persuade its Chief Executive Officer to pay the purchase price into a private account instead of AMCON’s official account, an arrangement the petitioner said it declined.

The petitioner further alleged that several meetings held with AMCON officials did not resolve the dispute. Instead, the petitioner claimed it was later served with letters relating to the expiration of its right of first refusal and notification of the property’s sale to another individual. It questioned the basis upon which its right of first refusal was deemed to have expired, maintaining that it was never given a proper opportunity to exercise that right.

The dispute eventually led to a series of court proceedings. According to the petitioner, while one case was struck out for lack of jurisdiction, another resulted in a judgment ordering the company to vacate the property. The company stated that it promptly appealed the decision and also filed an application for a stay of execution, which it said was still pending when enforcement actions were allegedly carried out.

In its petition, Olatone Abdulsalam Ventures alleged that AMCON and its agents made repeated attempts to take possession of the property in March and May 2023. It claimed that the first attempt was unsuccessful, while subsequent operations involved armed police officers and other individuals who allegedly removed roofing sheets, damaged parts of the building, threw out occupants’ belongings, and carried away or auctioned several personal and business items.

The petitioner also queried the legality of the enforcement process, contending that AMCON was not a party to the suit, hence, it has no legal title to retain possession, neither does AMCON possess a valid Warrant of Possession authorising the execution. It argued that the procedures required under the Sheriffs and Civil Process Act for enforcing court judgments were not followed and challenged AMCON to produce the necessary court documents authorising the eviction.

According to the petition, the company lost properties valued at over ₦200 million, including household appliances, office equipment, generators, furniture, electronic devices, jewellery, official documents, business inventory, and other valuables. It also claimed that the forceful eviction rendered its Chief Executive Officer and family homeless, disrupted its business operations, and caused significant emotional and psychological trauma to members of the family.

Among the reliefs sought from the National Assembly committee were an investigation into the alleged illegal eviction, restoration of possession of the property, payment of ₦1 billion as compensation for losses, review of AMCON’s enforcement procedures, and production of documents relating to the sale of the property and the execution process. The petitioner also prayed for measures to prevent similar incidents in the future.

Following consideration of the petition, the House of Representatives resolved that Olatone Abdulsalam Ventures Limited should be restored to the property to enable it complete its lease period.

The lower chamber also called on the Inspector-General of Police to investigate and discipline police officers who allegedly participated in the enforcement exercise if found to have acted outside the law.

According to a letter to the law firm signed by the Clerk of the National Assembly, Mr. Kamoru Ogunlana, “This letter conveys the above House Resolutions to you for your information, records and further necessary action.

“A copy of the Votes and Proceedings of Tuesday, 2 June, 2026, containing the text of the Resolutions is attached to this letter for your guidance.”

The decision highlights the National Assembly’s oversight role in addressing complaints involving public institutions and ensuring that the rights of individuals and corporate entities are protected in accordance with the law.

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