Travel/Tourism
N13.4b Debt: AMCON Takes Over Kashamu’s Best Western Hotel
By Modupe Gbadeyanka
The Assets Management Corporation of Nigerian (AMCON) has taken over Best Western Hotel in Lagos believed to be owned by Senator Buruji Kashamu.
Officials of AMCON, accompanied by some police officers and officials of the Federal High Court in Lagos storm premises of the hospitality centre to take over its management.
It was gathered that the move was made because it allegedly owes Oceanic Bank (now Ecobank) the sum of N13.4 billion.
Best Western Hotel is said to be operated by Suru Worldwide Ventures Nigeria Limited and the Group Managing Director of the parent firm, Mr Edward Akinlade, confirmed that this was not the first time officials of AMCON were storming the hotel.
According to the Head of Communication at AMCON, Mr Jude Nwaisor, Best Western Hotel owed Oceanic Bank N27 billion and only paid just N1.7 billion.
AMCON said it was working according to a court order, dated August 4, 2017 granted by Justice M.B Idris, which confirmed that the corporation had sued the Inspector General of Police, Commandant General of the Nigeria Security and civil defence corps and the Lagos State Commandant of the Corps as defendants and AMCON which gave it as a government agency, the mandate to take over possession of a non performing loan.
The judgment stated that due to the default of the debtor to liquidate its indebtedness to the plaintiff (AMCON) the powers and rights of the plaintiff as a secured creditor under the three Deeds of Legal Mortgage registered as 32/32/2033, 88/88/2032 and 89/89/2028 in respect of the properties earlier listed have arisen and therefore become exercisable.
But Mr Akinlade explained that in 2011, AMCON took over the company’s performing loan in Oceanic Bank and the lender was sued for selling the loan, saying in accordance with the Law, AMCON can only takes over a non performing loan.
“We sued Oceanic Bank for N39 billion for mismanaging our account, AMCON now took us to court before Justice Idris who dismissed the case on the basis that it was a performing loan, AMCON now needs to go on appeal but it did not, instead joined the case with Oceanic Bank, and the case has been going on for six years we have sued Oceanic Bank since 2011, so we are still on the matter.
“AMCON decided to join the case as co-defendants, the last time that case came up in court was about a month ago.
“They have been sitting on this Judgment since last Wednesday and we were not invited as defendants.
“This AMCON take-over is illegal, we were still waiting to go back to court on October 3, 2017 for a case we filed against AMCON at the Federal High Court.”
By Adedapo Adesanya
The Federal Airports Authority of Nigeria (FAAN) has announced plans to introduce V-Pass, a biometric facial recognition system designed to make passenger processing faster, safer and more seamless across its domestic airports.
According to FAAN, the new technology will allow passengers to verify their identities through facial recognition after a one-time enrolment, reducing reliance on physical identification documents and shortening queues through automated electronic gates.
The authority said the system is expected to enhance airport security while improving the overall travel experience for domestic passengers.
FAAN added that V-Pass has been developed with data privacy at its core and is compliant with the Nigeria Data Protection Regulation (NDPR).
The agency described the initiative as part of its commitment to delivering smarter, technology-driven airport services and said nationwide sensitisation and rollout updates would be announced in due course.
Airports in countries including the United States, the United Kingdom, Singapore and the United Arab Emirates already deploy facial recognition technology for processes such as check-in, security screening, immigration and boarding, so the move also aligns Nigeria’s aviation sector with a growing global trend towards contactless travel.
These systems have been adopted to improve operational efficiency, strengthen security and enhance the overall passenger experience.
For FAAN, the deployment of V-Pass forms part of its broader digital transformation agenda aimed at modernising airport operations and accommodating rising passenger traffic.
Experts say that beyond improving convenience, the authority expects the biometric platform to strengthen identity verification, reduce the risk of impersonation and support more efficient airport security, while maintaining compliance with data protection.
By Aduragbemi Omiyale
About 14.12 per cent stake in Ikeja Hotel Plc has been acquired by Honeywell Group Limited, a notice on the Nigerian Exchange (NGX) Limited has revealed.
Honeywell Group took up the part of the hospitality firm through one of its affiliates known as HGL Real Estate Limited.
Ikeja Hotel, in the disclosure filed with the NGX on July 2, 2026, said the stake comprised 305,323,525 units of its equities.
“Ikeja Hotel hereby notifies the Nigerian Exchange Limited and the general public that it has received notification from HGL Real Estate Limited, an affiliate of Honeywell Group Limited, that it has acquired 305,323,525 units of Ikeja Hotel Plc’s shares, representing 14.12 per cent shareholding in the company,” the notice stated.
Ikeja Hotel is one of Nigeria’s leading hospitality investment and hotel management companies with premium hospitality assets.
It operates two leading hospitality organisations in Lagos, the Sheraton Lagos Hotel and Balmoral Convention Centre.
By Aduragbemi Omiyale
About 10 hospitality establishments, including hotels and restaurants, were sealed on Wednesday by officials of the Lagos State Environmental Protection Agency (LASEPA).
The affected businesses are located in different locations in the Alimosho Local Government Area of the metropolis, Business Post learned from a statement from the agency.
It was stated that they were sealed by LASEPA for persistent violations of environmental regulations despite repeated warnings, abatement notices, and several opportunities to comply with the agency’s directives.
According to the notice, the enforcement exercise was carried out in line with the directives of the Lagos State government to ensure strict compliance with environmental laws and to safeguard public health.
The affected facilities were said to have breached various environmental regulations, including noise pollution, air pollution, unlawful discharge of untreated effluent, obstruction of official duties, among others.
LASEPA closed the premises of Granduer Meridian at Obasa Akiniyi Street, Oluwaga, Ipaja for non-compliance with the agency’s directives; Lasola (Spazio Bar), located on Ipaja Road, Fatolu Bus Stop, Ipaja, was sealed for noise pollution and non-compliance with directives; Millennium Restaurant, located at Gate Bus Stop, Ipaja, Ayobo, was shut down for non-compliance with directives; O2 Exquisite Suites & Tower on Jimoh Akinremi Street, Jimoh Bus Stop, Akowonjo, was sealed for non-compliance with directives; and Chirozz Hotel & Suites, located on Samuel Street, Akowonjo, by Vulcanizer Bus Stop, Egbeda, was closed for noise pollution and non-compliance with directives.
In addition, House 7 Hotel, located at Remi Akande Street, Egbeda, was sealed for non-compliance with LASEPA’s directives; House 48 on Isiba Oluwo Street, Egbeda, was sealed for non-compliance with directives; Exclusive Hotel, located at Ishan Kimishe, Akesan Bus Stop, was shut down by non-compliance with directives; Sabola Ventures Limited, Iocated at Km 11, LASU–Isheri Road, Igando, was shut down for operating without evidence of an Effluent Treatment Plant (ETP), and discharging untreated effluent into public drains; and City Int’l Motel, located at Chief Olu-Adegbite Street, off Oladun Street, Council Bus Stop, Idimu, was sealed for non-compliance with directives.
