Late Property Merchant, Olajide Awosedo’s Crumbling Estate

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Olajide-Awosedo

In life, Rev. Olajide Awosedo was a successful businessman. He lived life to the hilt. He was loved by many, just the same way he was envied by many for his achievements

As a businessman, he tried to expand his business empire even beyond the shores of the country, to the admiration of his far-flung fans.

At some point, he eyed the ‘business of politics’ in Nigeria and in an effort to realise his dream, he pitched his tenth with the Labour Party, LP, in Ogun State. Luckily, he emerged the governorship candidate of the party in the state. But that was the farthest he could go, as the party lost in the guber race.

Like all mortals, death came calling, and the Ogun State-born politician died on Tuesday, June 18, 2019 in the United States after a protracted illness, amidst tears and gnashing of teeth by friends and family members.

Sadly, almost as soon as he passed on, some distasteful news began to filter in about the secret of his supposed successful business life. Unknown to many, the details point to the fact that Awosedo was not truly worth all that he claimed to be. How? A few weeks after he died, his multi-billion Naira Victory Park Estate, Lekki, Lagos was taken over by the Asset Management Corporation of Nigeria, AMCON over an unpaid loan he and his companies – Knight Rook Limited and Grant Properties Ltd, Olawunmi Olajide-Awosedo, Abimbola Olajide-Awosedo and Fibigboye Estates Ltd- had obtained.

It was gathered that the AMCON’s takeover followed the October 3, 2017 judgment of a Federal High Court in a suit marked FHC/L/CS/744/17 – Asset Management Corporation of Nigeria v. Knight Rook Limited & Ors.

It was also revealed that the Court of Appeal also awarded a cumulative sum of N12, 966,510,191 in favour of AMCON against the firm.
A reliable source disclosed that the luxury estate was used as collateral by the late property merchant years ago.

Before his death, Awosedo had been allegedly described as a serial debtor; he was said to be indebted to not fewer than nine banks in the sum of N22 billion.