Former Nigeria Director of Sports, Dr. Amos Adamu is not new to the societal and sports radar. For displaying sterling leadership qualities during his 10 years tenure as the Director General of Nigeria Sports Commission, in 2005, Adamu was selected as a member of the organizing committee for the first ever World Cup Finals to be hosted in South Africa in 2010. Adamu became an Executive Committee member of FIFA and the Confederation of African Football. After which in April 2007, He became the President of the West Africa Football Union.
At a point in time, The former University Lecturer; who holds a Ph.D in Physical and Health education was a man like God; if he sneezes, the whole soccer world catches the vibes. He was so influential that anything that has to do with soccer in Africa and Nigeria passes through his table.
His problems started On the 6th of November 2008, when Late President Umaru Yar’Adua ordered his immediate removal from the post of Director General of the National Sports Commission and redeployed him to the Ministry of Special Duties after the removal of erstwhile Minister for Sports and Chairman National Sports Commission; Abdulrahman Gimba, in a cabinet reshuffle. Adamu was later alleged for fraud, bribery and corruption, but no concrete evidence was provided to nail him.
The former billionaire through his Company Balmoral Halls and Events Centre, his son Ezekiel Adamu and Nigeria Leading Financial Institution Guarantee Trust Bank (GTB) has been enmeshed in a legal battle over unpaid credit facility granted to Bamoral Hall by GTB.
Consequent upon the inability or refusal of the defendants to repay the credit facility granted them by GTBank, the bank, and its Receiver Manager; Owolabi Usman, in a bid to enforce the terms of the loan agreement approached the court through an Originating Summons seeking an order for the enforcement of the Tripartite Deed of Legal Mortgage dated February 24, 2012, on a property at number 22AB, Cooper Road, Ikoyi, Eti-Osa Local Government Area, Lagos State vide a Certificate of Occupancy Registered at the Federal Land Registry, Ikoyi as number 14, at page 14 in volume 111.
However, while the matter was pending before Justice Hadizat Shagari of the Federal High Court, Lagos, South West Nigeria the parties reached an out of court settlement consequent upon which a term of the settlement was filed and adopted as a judgment of the court.
In the term of settlement filed before the court, the plaintiffs, GTB and its Receiver Manager, Owolabi Usman and the defendants, on the other hand, Balmoral Halls And Events Management Limited, Dr. Amos Adamu and his son Ezekiel Adamu agreed to the following terms:
” That the defendants have admitted owing the sum of N88, 272,350. 85 and equally agreed to pay the sum being the outstanding balance of the credit facility granted them by GTBank as at November 2017.
It was equally agreed that the defendants have paid the sum of N21,000,000.00 in November 2017 and agreed to spread the remaining balance of N67, 272,350.85 in four installments commencing on November 30, 2017.
It was further agreed in the term of settlement, that in the event of the defendants defaults in complying strictly with their repayment schedule, or the post-dated cheques issued by Balmoral Halls And Events Management Limited, did not clear on the due dates, the second plaintiff, being the Receiver Manager Mr. Owolabi Usman is entitled to exercise all the powers and perform all the functions of a Receiver Manager in accordance with the Tripartite Deed of Legal Mortgage without any interference, obstruction and or hindrance.