Wednesday, Sep 23rd 2020 1:46 PM
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Market Digest Nigeria

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Toke Makinwa’s Banana Island house allegedly taken over by AMCON

Toke Makinwa

Media personality, Toke Makinwa has allegedly lost her Banana Island house to Asset Management Corporation of Nigeria (AMCON).

Toke Makinwa

According to a gist from Gistmerchant blog on Instagram, Toke’s house was given to her by her “sugar daddy”, Lagos-based oil and gas businessman, Dr. Festus Fadeyi, whose total indebtedness to AMCON is over N240 billion.

Earlier this month, AMCON took possession of Fadeyi’s Pan Ocean Oil Corporation Nigeria Limited, its affiliate companies and other properties, over an unpaid N240 billion loan debt.

Recall that about a month ago, Toke revealed that she bought her dream house (the Banana Island house), at the age of 35.

It could be recalled that in 2017, billionaire Fadeyi’s children warned Toke to leave their father alone. They were angry with the way he splurges on her. They also believed he was squandering too much money on her even though he is heavily indebted to Skye Bank.

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