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Ugandan multimillionaire Mohammed Hamid faces loss of five-star hotel over $160-million debt

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Mohammed Hamid, the influential Ugandan multimillionaire, is at the precipice of forfeiting his iconic Aya Hotel due to a mounting $160-million debt. Nestled atop the scenic Nakasero Hill in Kampala, the five-star property boasts unparalleled 360-degree views of the capital, owing to its elevation of 1,240 meters above sea level.

The expansive hotel stretches over 32,000 square meters, consisting of 23 floors, 296 rooms, a choice of 37 luxury suites, alongside a mix of high-end restaurants, bars, and an assortment of business-focused amenities.

On Sept. 25, a public notice, circulated by Armstrong Limited – court-appointed bailiffs and debt collectors, under instructions from M/S MMAKS Advocates and ENSafrica Advocates (representing the Industrial Development Corporation of South Africa Ltd.), declared that unless all outstanding dues were cleared ahead of Oct. 26, 2023, the hotel would be presented at a public auction.

The auction is aimed at recouping a hefty Shs 611-billion ($160 million) debt, which roots back to a financing agreement inked in 2007 between Aya Investments and the South African financial institution for the hotel’s construction. Hamid’s Aya Investments has contested the arrangement, claiming that delayed funds impeded the completion of the hotel. The tycoon further pointed to tax disputes with the Uganda Revenue Authority and logistical challenges tied to Uganda’s geographical constraints.

Legal tussles have enveloped the property. Recent judgements by the Court of Appeal have upheld the legitimacy of arbitration processes, thwarting Aya Investment Limited’s attempts to appeal against the payment decree of Shs 611 billion ($162.1 million) to IDC of South Africa Limited. This follows the Bruce Collins QC Tribunal’s order last year that mandated the payout.

Records indicate that a decade ago, a substantial Shs 305 billion ($80.9 million) was handed over by the South African lender to the businessman, an amount which remains unpaid. This debt has been a source of contention, and Justice Stephen Mubiru approved IDC’s motion to solidify the award as a High Court decree in Uganda, further complicating matters for Hamid.

The business magnate’s endeavors to seek reprieve through the local judicial system have so far been unfruitful. The hotel’s management history has been equally tumultuous. Initially partnering with Belgium’s Carlson Rezidor Hotel Group in 2017, the alliance dissolved within six months, replaced briefly by South Africa’s Sovereign Hotels. By 2018, the American giant Wyndham Hotels and Resorts took charge, but this too was short-lived. The hotel, previously christened ‘Pearl of Africa’, has been operating as WIN 5 Hotel & Spa from early this year, with whispers suggesting a potential majority takeover by Libyan firm LAICO.

Hamid, 47, is the founder of Aya Group, a $200-million (annual revenues) Ugandan conglomerate with interests in milling, food manufacturing, commodity trading and hospitality.

 

Society

Otunba Segun Runsewe’s Earlier Warning Against Bobrisky Has Finally Been Vindicated…

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“If my child ever turned out like Bobrisky, I would feel I failed.” This is the kind of mean remark that some individuals have made upon encountering Idris Okuneye, better known as Bobrisky.

 

 

The young man’s controversial lifestyle has sparked debates nationwide, with many worrying about the influence he might have on impressionable youths.

 

Given his current case with the Economic and Financial Crimes Commission (EFCC), his fame is at an all-time high—so is the worry of the older generation.

 

In April 2024, Bobrisky was convicted for mutilating the naira, and given a six-month jail sentence. There were claims, however, that Bobrisky lived comfortably in a private apartment during this time, which he denied. Officials later confirmed that while he was held in the facility, his special treatment was for security reasons, due to his appearance and identity.

 

 

Bobrisky’s life has indeed been a series of scandals, from the recent legal troubles to social media drama. But these have only helped to him at the centre of public scrutiny. Moreover, his bold defiance of norms has made him a focal point for criticism, especially from parents and community leaders who worry about his influence on young Nigerians.

 

Public figures including former Director General of the National Council for Arts and Culture, Otunba Olusegun Runsewe have urged parents to teach their children strong values. They argue that Bobrisky’s lifestyle directly opposes traditional African norms of decency and respect. As Bobrisky pushes boundaries, reputable individuals like Otunba Runsewe have spoken out about how they feel these values are being tested.

 

 

Indeed, with a large social media following, Bobrisky’s influence is undeniable. Yet, his flamboyant persona and controversial behaviour leave many uneasy. In a society where cultural values run deep, it is only right for rational individuals to be vigilant against things that run against these values. Bobrisky tops this list.

 

“A man who tries to walk two roads will split his legs,” warns an old proverb. Bobrisky’s life, full of contradictions, reflects this truth. Especially now that he is playing Russian Roulette with bodies like the EFCC, who knows what a person like him could drag parents into in the name of defending their children.

 

 

 

It is important to recall that Otunba Segun Runsewe warned Nigerians about the character called BOBRISKY. Today the cultural icon, Otunba Segun Runsewe, has indeed been vindicated.

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Alleged N4billion Fraud: Court Adjourns Anambra Ex-Governor Willie Obiano’s Trial To November 13.

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A Federal High Court sitting in Abuja has adjourned the alleged money laundering charge filed by the Economic and Financial Crimes Commission (EFCC) against former Anambra Governor, Willie Obiano, to November 13 for the continuation of the trial.

 

 

The matter before Justice Inyang Ekwo could not proceed on Monday because the court did not sit. The judge was said to be attending a seminar at the National Judicial Institute (NJI) in Abuja.

 

 

 

Obiano who was Anambra governor between March 2014 and March 2022 is currently on trial, facing a nine-count charge of embezzlement and money laundering totaling N4billion, brought by the EFCC.

 

 

Obiano is accused of diverting public funds to personal use, and the prosecution is presenting evidence to support the charges.

 

 

Two prosecution witnesses, Tochukwu Aloysius Nnadi and Mrs. Chinwe Patricia Ebunam, had testified in the trial, before Justice Inyang Ekwo of the Federal High Court in Abuja, stating that N4billion security votes were diverted to private companies.

 

 

 

Nnadi, a bank manager in Awka, Anambra State, revealed that documents from his bank showed that funds from the state’s security votes account were transferred to various private entities, including Easy Diamond Integrated Links, C.I Patty Ventures Nigeria Limited, and Xpressive Consult Nig. Limited, among others, during Obiano’s tenure as governor.

 

 

These transactions were made under Obiano’s watch, suggesting potential misuse of public funds.

 

 

Led in evidence by prosecution counsel of the Economic and Financial Crimes Commission (EFCC) Sylvanus Tahir (SAN), the witness stated that the Anambra State Government under Obiano had several accounts with the bank that included: Statutory Revenue Account, Value Added Account, Consolidated Internal Generated Revenue Account, Security Votes Account and others.

 

 

According to him, “the mandate of the Security Votes Account was operated by the then Principal Secretary to the governor, Mr Willie Nwokoye and the Accountant at the government house, Theophilus Meize. The accounts are funded weekly from various accounts, especially from the Consolidated Internal Revenue account in which payments are usually made weekly based on the advice from the operators of the account to various entities, be it individual or corporate entities which I cannot mention here because the names are many but I recall that I made a statement in the Commission where I listed some of those names there.”

 

 

The witness, Tochukwu Aloysius Nnadi, testified that he provided various documents to the Commission, including statements of account, certified true copies, certificates of identification, and account opening packages. These documents, marked PW A1 to PW A794 and B1 to B432, were submitted as evidence by the prosecution counsel and accepted by the court.

 

 

Additionally, the second prosecution witness, Chinwe Patricia Ebunam, an Onitsha-based businesswoman, testified that she received a mysterious payment of N156,800,000 (One Hundred and Fifty-Six Million, Eight Hundred Thousand Naira) in 2022 from the Anambra State Government’s account, despite not having executed any contracts for the government. This payment was made without any clear justification or explanation.

 

 

According to her, “Sometime around 20th May 2022, I received a call from EFCC that they needed me in their office, regarding my company C.I Patty Ventures, about some money that passed through my account, which I told them I didn’t know anything about the money that passed through my account. All I knew was that I called my bank account officer, Ugochukwu Otibere to upgrade my account or post money into my account to enable me to pass the requirements of the embassy so that I can travel.

 

 

He accepted and collected the details of the company’s account and cheque. He promised me that he will upgrade the account. I don’t know anything about the NI56,800 million that passed through my account from the Anambra State Government.”

 

 

 

 

 

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Just In:  Lagos Assembly Suspends Alimosho Council Chairman, Jelili Sulaimon over non-compliance Attitude 

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The Lagos State House of Assembly on Monday handed down an indefinite suspension to the chairman of the Alimosho Local Government Area, Jelili Sulaimon. The suspension is with immediate effect.

 

Sitting at plenary, the lawmakers resolved that the vice chairman of the council, Mr. Akinpelu Johnson, should take over the running of its affairs.

 

The House further instructed the management of the council, including the manager and treasurer, to recognise the authority of the vice chairman and accord him all the support to make him work effectively.

Jelili Adewale Sulaiman

The chairman was suspended in a unanimous vote by the lawmakers over an alleged non-compliance, defiance and unyielding attitude to the legislative House.

 

Moving a motion for his suspension, the Chairman of the House Committee on Local Government Administration and Chieftaincy Affairs, Hon. Sanni Okanlawon, recalled that in April 2024, pandemonium broke out in the Iyana-Ipaja axis of Alimosho Local Government leading to the death of one Mr. Micheal Ajayi.

 

Hon. Okanlawon, whose committee was saddled with the responsibility to investigate the cause of the pandemonium, said that it was discovered that Jelili masterminded the chaos.

 

According to Okanlawon, all stakeholders involved in the issue were invited, but Jelili had continued to show acts of misconduct to the committee of the House.

 

He highlighted the council chairman’s failure to adhere to the Assembly’s directives and his mismanagement of public funds. He, therefore, called for Jelili’s immediate suspension in line with relevant sections of the 1999 Constitution as amended.

 

“He should be suspended immediately while the vice chairman, Akin Johnson, takes over with immediate effect,” he prayed.

 

Majority Leader of the House, Noheem Adams, while supporting the call for Jelili’s suspension, added that the action would make other local government chairmen sit well.

 

“The Alimosho council chairman does not follow procurement processes or the budget. There has been a lot of misconducts from him and I support that the chairman be suspended indefinitely,” he said.

 

In his contribution Hon. Nureni Akinsanya, Chairman of the House Committee on Public Accounts for Local Government, referred to the report submitted by the State Auditor-General concerning the activities of Jelili. The report underscored the council chairman’s consistent non-compliance with financial regulations, with significant irregularities in his records.

 

Akinsanya, emphasising these discrepancies, suported Okanlawon’s call for Jelili’s suspension.

 

Similarly, Hon. Ladi Ajomale expressed surprise that the council chairman had been recalcitrant despite previous reports detailing his alleged financial mismanagement.

 

Hon. Sa’ad Olumoh, while echoing his concerns, also prayed the House to invite Mr. Kolade Alabi and Mr. Rasak Ajala, chairmen of Bariga LCDA and Odi Olowo LCDA respectively, as heads of the Conference 57, to explain the widespread disregard by council chairmen for governance protocols.

 

The Speaker, Rt. Hon. (Dr) Mudashiru Obasa, who presided over the sitting, directed the Clerk of the House, Barr. Olalekan Onafeko, to communicate the Assembly’s resolution to all relevant authorities

 

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