By Sar Terver
The power play behind the proposed auction of the Silverbird Entertainment Centre in Abuja by the Asset Management Corporation of Nigeria (AMCON) has kindled a public debate, not only about the legality and necessity of the action, but also about the timing, the personalities involved, and what the move could mean for ordinary workers and businesses housed in the iconic complex.
Originally reported by Premium Times, AMCON listed the Silverbird Centre for sale to recover a debt of over ₦10 billion owed by companies owned by former Senator and media mogul, Ben Murray-Bruce.
The property, including the Abuja mall, were taken over by AMCON in 2016 following a court order and have remained under receivership. Nearly a decade later, the federal agency is now pushing ahead with a full auction of the facility on the ground of failure to repay the debt despite several negotiations.
But the news has been received with mixed emotions by Nigerians, especially on social media. On platforms like X (formerly Twitter), WhatsApp groups, Facebook, and forums like Nairaland, many users questioned whether Bruce’s case is part of a genuine debt recovery drive, or if it carries undertones of political payback.
Some netizens mocked the former senator, known for his “Common Sense” campaign, for not applying the same logic to his business dealings. A blogger stated sarcastically in a video, “My friend, Mr. Common Sense, I am disappointed in you. You didn’t apply the common sense you teach us to save your businesses from debts.”
Others accused Bruce of hypocrisy for commending President Bola Tinubu’s economic policies in a video, while being unable to prevent the financial collapse of one of Nigeria’s most iconic entertainment facilities.
In the viral CT Naija video, Bruce lauded President Tinubu’s swift economic reforms like deregulation and currency floatation, saying the president is “doing a good job” despite the pain of current policies. “We have a stable currency today. It’s expensive, but stable… Production leads to freedom. We must produce to be free,” Bruce said, praising Tinubu’s focus on productivity and economic structure.
But many Nigerians are now asking: if Bruce is such an ardent supporter of the current government’s economic direction, why is his own business empire drowning in debt?
AMCON’s move has also raised significant concerns over job security and the fate of the numerous businesses operating within the Silverbird Centre. The mall, which houses Cinemas, retail outlets, restaurants, and office spaces, supports an ecosystem of tenants and employees who now face an uncertain future.
If the property is sold to a new buyer, workers may be laid off, leases terminated, and business operations disrupted. For many of them, the issue is not about Bruce’s debt but the potential loss of their livelihoods.
The legal framework appears to be in AMCON’s favour. The agency obtained a court order in 2016 to take over properties owned by Silverbird Productions, Silverbird Showtime, and Silverbird Galleria.
The order barred Ben Murray-Bruce and his associates from interfering with the listed assets. According to Premium Times, the planned auction is in line with that legal mandate, and AMCON has made it clear that it is moving to liquidate assets in order to fulfill its statutory obligations.
But, some critics believe the decision may be politically motivated. Bruce, a prominent media owner and former senator, has often used his platforms to criticize the ruling All Progressives Congress (APC).
Murray-Bruce, a critics of federal government fondly known as ‘Mr common sense’, has recently toned down his rhetoric, particularly after Tinubu assumed office, but some observers say the timing of the auction and the renewed media attention could be designed to humble a once-outspoken political figure.
The bigger question lies in how this story fits into the broader conversation about debt, privilege, and accountability in Nigeria.
Many Nigerians view the case as a test of whether AMCON can enforce debt repayment among powerful elites in the same way it does with ordinary Citizens.
It is not uncommon for high-profile individuals to owe billions in non-performing loans while living lavishly and enjoying political protection.
If AMCON is consistent and transparent in this case, it could signal a turning point in how Nigeria handles elite financial irresponsibility.
The silence from Bruce himself has only deepened the mystery. At the time of the original takeover in 2016, he posted a tweet from an international flight saying the situation was being handled.
But since the renewed announcement of the sale, he has not made any public statement. For a man known for tweeting daily political advice and economic commentary, his silence on a matter so personal and consequential has left many wondering what really went wrong.
This hopla is more than a real estate headline. It presents the ongoing struggle between institutional enforcement and elite privilege, the fragility of Nigerian businesses in the face of poor corporate governance, and the human cost of financial mismanagement.
There are arguments that if the auction proceeds, it could displace hundreds of workers and business owners who had no say in the events that led to this debt.
More importantly, it could serve as a public litmus test of AMCON’s neutrality and efficiency. Will the auction be executed transparently and fairly? Or will it become another example of selective enforcement, harsh on the weak, but soft on the powerful?
Whatever the outcome, the story of Silverbird is no longer just about Ben Bruce or his debts. It is now a national conversation about justice, accountability, and whether “common sense” still has a place in Nigerian public life.
