AMCON strips Jimoh Ibrahim of prime assets, bank accounts

Mr. Jimoh Ibrahim

Mr. Jimoh Ibrahim: loses assets and bank accounts to AMCON

Mr. Jimoh Ibrahim: loses assets and bank accounts to AMCON

Twelve prime assets belonging to the Chairman of Global Fleet Group, Jimoh Ibrahim, have been seized by Asset Management Corporation of Nigeria (AMCON) over a debt of N69.4 billion

Ibrahim and his compaines’ bank accounts, including Global Fleet Oil & Gas Limited and NICON Investment Limited all have also been taken over by the bank.

This followed an order by Justice R.M. Aikawa of the Federal High Court in Lagos, a statement by the Head of Corporate Communication at AMCON, Jude Nwauzor.

The assets seized are 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.

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The seize and freeze order was given 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.

With the help of court bailiffs and police, AMCON took possession of the properties on Wednesday, through its debt recovery agent – Pinheiro Legal Partners.

Nwauzor said the assets were taken over without incident.

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