News
Jimoh Ibrahim Losses Assets To AMCON Over ₦69.4bn Debt
NOVEMBER 19, 2020
The Asset Management Corporation of Nigeria (AMCON) has taken over 12 “prime assets” belonging to the Chairman of Global Fleet Group, Jimoh Ibrahim, and had his accounts frozen over a ₦69.4 billion debt.
This followed an order by Justice R.M. Aikawa of the Federal High Court in Lagos, according to a statement by the Head of Corporate Communication at AMCON, Jude Nwauzor.
Based on the order of the court, AMCON took possession of top properties belonging to the businessman on Wednesday, through its debt recovery agent – Pinheiro Legal Partners.
Nwauzor said AMCON took over all the assets listed by the court and scattered around Abuja and Lagos on Wednesday with the help of court bailiffs and officers and men of the Nigerian police as mandated by the court.
Read also: I Will Poison PDP, Business Mogul Jimoh Ibrahim Says As He Defects To APC
The properties include the NICON Investment Limited building at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Limited building at Plot 557, Port-Harcourt Crescent, off Gimbiya Street, Abuja; and the NICON Lekki Limited building at No. 5, Customs Street, Lagos among others.
Apart from the buildings, the court also ordered the freezing of all accounts belonging to Barrister Jimoh Ibrahim and his companies including Global Fleet Oil & Gas Limited and NICON Investment Limited all of who are defendants in Suit No. FHL/L/CL/776/2016 presided over by Justice Aikawa on Wednesday, November 4, 2020.
In addition, the court granted AMCON possession over all shares belonging to Ibrahim and his two companies that are domiciled in Nigerian Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited (NSL), and NICON Trustees Limited.
Nwauzor said the assets were taken over without incident.
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