Ali Baba Evicted from Victoria Island Mansion in ₦500m Debt Row
Abayomi Bolatito
Comedian Ali Baba has been evicted from his multi-million naira mansion in Victoria Island, Lagos, following a Federal High Court ruling. The court ordered that the house be returned to its original owners, Harold Expansion Industries, and awarded ₦500 million in damages against the Asset Management Corporation of Nigeria (AMCON). This ruling has sent shockwaves through the real estate sector, raising concerns about the legitimacy of property transactions involving AMCON.
The property dispute began when Ali Baba purchased the mansion in 2021 for ₦220 million from AMCON, which had seized the property to recover debts allegedly owed by Harold Expansion Industries Nigeria Limited. However, the court ruled in favor of Harold Expansion Industries, stating that AMCON failed to provide evidence of the alleged debt and wrongfully sold the property. This decision highlights the importance of thorough due diligence in property transactions, especially when dealing with assets seized by corporations like AMCON.
On August 15, 2025, court bailiffs executed a writ of possession, removing Ali Baba and his company, XQZMOI TV, from the property located at 324A Akin Ogunlewe Street, Victoria Island. The eviction has sparked widespread reactions, with many Nigerians expressing sympathy for Ali Baba. Some have blamed AMCON for the embarrassment, questioning the corporation’s handling of asset sales. Others have argued that celebrities should exercise caution when purchasing properties tied to debt cases, emphasizing the need for thorough due diligence in property transactions.
The case has highlighted the complexities and risks involved in buying properties with disputed ownership or debt histories. It also raises questions about the effectiveness of AMCON’s processes and the potential consequences for buyers who unknowingly purchase properties with legal issues. Many are calling for greater transparency and accountability in AMCON’s asset sales to prevent similar situations in the future.
As the situation unfolds, many are watching to see how Ali Baba will navigate this challenging situation and what implications this case may have for future property transactions in Nigeria. The outcome of this case could set a precedent for how similar disputes are handled, potentially leading to changes in how AMCON and other corporations manage and sell seized assets. With the real estate sector closely monitoring the developments, the final resolution of this case will likely have far-reaching consequences.
