Categories: HeadlinesLocal

N69.4bn Debt: AMCON Takes Over Jimoh Ibrahim’s Assets

A building taken over by AMCON said to belong to Jimoh Ibrahim. Credit: AMCON

 

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 N69.4 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.

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.

Others are Abuja International Hotels Limited building located at No. 3, Hospital Road, Lagos; another property at Plot 242, Muhammadu Buhari Way, Abuja; the former Allied Bank building on Mile 2, Oshodi Express Way, Apapa Road, Lagos; Energy House located on No. 94, Awolowo Road, Ikoyi, Lagos; NICON Building at No. 40, Madeira Street, Maitama, Abuja; a Residential Apartment at Road 2, House A14, Victoria Garden City, Lagos; NICON Hotels building at Plot 3, Road 3, Victoria Garden City, Lagos; as well as the NICON Luxury Hotel’s building, Garki I, FCT, Abuja.

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.

See Photos Below Of Some Properties Below:

 

Ignatius Igwe

An energetic journalist with an amazing sense of responsibility.

Disqus Comments Loading...
Share
Published by
Ignatius Igwe

Recent Posts

Katsina Govt. Trains 722 Co-Opted Agric Staff

This is to give farmers across the state, solutions to their lingering problem of low…

19 mins ago

Gov Eno Gives N1.5bn Interest-Free Loan, Launches Free Food Programme

This is as he also launched the free food voucher programme for the vulnerable and…

26 mins ago

Security Agencies After Firms Involved In Forex Racketeering, Says CBN

The CBN boss, however, stated that if findings later show some of the transactions can…

32 mins ago

Super Eagles Suffer 2-0 Defeat To Mali In International Friendly

It was not the very best of nights at the Stade de Marrakech for Nigeria's…

58 mins ago

Two Suspects Arrested For Alleged Forgery Of Sokoto District Head’s Signature

The suspects were arrested by the Zamfara State Command of the Nigeria Security and Civil…

2 hours ago

Okuama: Tinubu To Attend Burial Of Slain Soldiers Today

The Commanding Officer of the 181 Amphibious Battalion, two majors, one captain, and 13 soldiers…

2 hours ago