AMCON to Sell Abuja Silverbird to Recover N10 Billion Loan

The Asset Management Corporation of Nigeria (AMCON) has listed the Silverbird Entertainment Centre in Abuja for sale to recover a N10 billion debt linked to former Senator Ben Murray-Bruce’s entertainment empire.

The debt, accumulated by companies owned by the Murray-Bruce family, including Silverbird Productions Limited, Silverbird Showtime Limited, and Silverbird Galleria Limited, has remained unresolved since a 2016 court order authorized AMCON to take over their assets.

The Abuja mall, a flagship property of the Silverbird Group, features cinemas, retail stores, restaurants, and office spaces, with a gross lettable area of 15,050.91 square meters. The property is being sold on an “as is” basis, and bids are due by July 11.

This move is part of AMCON’s broader asset recovery drive targeting high-profile debtors. As of 2017, over 400 individuals and entities were responsible for N4.5 trillion, nearly 80% of AMCON’s outstanding debt portfolio.

The court order, issued in June 2016, appointed M.A. Banire as receiver and barred Ben Murray-Bruce, his brothers Guy and Roy Murray-Bruce, and other relatives from interfering with the recovery process.

The order also covered mortgaged properties in Abuja, Lagos, and Port Harcourt.

Ben Murray-Bruce, who served as senator for Bayelsa East from 2015 to 2019, is the founder of Silverbird Group, which operates TV and radio stations across Nigeria and Ghana and organizes the Most Beautiful Girl in Nigeria (MBGN) pageant.

As of the time of reporting, Ben Murray-Bruce had not commented on the sale.