Anxiety is mounting over the future of hundreds of workers and businesses operating within the Silverbird Entertainment Centre, Abuja, as the Asset Management Corporation of Nigeria (AMCON) moves to auction the property in a bid to recover over ₦10 billion in unpaid loans linked to former senator and media entrepreneur, Ben Murray-Bruce.
The property, a cultural and commercial landmark housing cinemas, restaurants, shops, and offices, was seized by AMCON in 2016 under a court order and has remained under receivership since. Now, nearly a decade later, the federal agency is pushing for a full liquidation after what it described as years of unsuccessful negotiations to recover the debt.
The decision has sparked national debate, especially on social media, with some Nigerians questioning the timing and political undertones of the auction. Critics argue the move may be aimed at silencing Bruce, a one-time vocal critic of the ruling All Progressives Congress (APC), who has recently adopted a more conciliatory tone towards President Bola Tinubu’s administration.
Bruce, popularly known as “Mr Common Sense” for his public advocacy campaigns, has come under fire for what many see as a failure to apply his own economic advice to his personal business dealings. One viral post on X (formerly Twitter) read: “Mr Common Sense, your own business is collapsing and you’re praising economic reforms?”
The criticism intensified after a video resurfaced showing Bruce applauding Tinubu’s economic policies, including the deregulation of the oil sector and the unification of the exchange rate. “We have a stable currency today… Production leads to freedom. We must produce to be free,” he said in the clip, which has since been widely shared.
Despite Bruce’s defence of the current government’s economic direction, his silence on the imminent sale of Silverbird has baffled many. Known for his near-daily posts on political and economic matters, Bruce has not publicly addressed the renewed sale plan.
While AMCON maintains it is acting within its legal mandate, concerns persist over the potential social fallout. A change in ownership could lead to widespread layoffs and dislocation for businesses renting space within the complex. “We are not part of the debt, but we are now being punished for it,” said one employee at the mall, speaking on condition of anonymity.
The auction is expected to go ahead in line with a 2016 Federal High Court order, which barred Bruce and his companies — including Silverbird Productions, Silverbird Showtime, and Silverbird Galleria — from interfering with the listed properties.
Yet questions remain about whether the enforcement of debt collection will be uniformly applied. Some commentators say the Silverbird case offers a rare opportunity to test AMCON’s credibility. “Will AMCON pursue other billionaire debtors with the same vigour?” one financial analyst asked.
For now, uncertainty hangs over the fate of those whose livelihoods depend on the Silverbird Centre. Beyond the glamour and politics, the saga underscores deeper issues of elite accountability, corporate governance, and the fragile future of many Nigerian businesses.
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