N69.4bn debt: AMCON takes over Jimoh Ibrahim’s assets, freezes accounts

The Asset Management Corporation of Nigeria (AMCON) has taken over 12 assets belonging to Chairman of Global Fleet Group, Jimoh Ibrahim, over N69.4billion debt.

AMCON’s Spokesman, Jude Nwauzor, who disclosed this in a statement on Wednesday, said the businessman’s accounts were also frozen by the corporation.

He said the seizure of the assets was pursuant to an order by Justice R.M. Aikawa of the Federal High Court, Lagos.

Nwauzor added that the assets which are located in Abuja and Lagos had been successfully taken over by AMCON with the help of court bailiffs and police officers as directed by the court.

The statement read: “AMCON on Wednesday took effective possession of all 12 properties through its Debt Recovery Agent – Pinheiro Legal Partners, which include the following: the building of NICON Investment Limited 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 building of NICON Lekki Limited also at No. 5, Customs Street, Lagos.

“Others are – the building of Abuja International Hotels Limited 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 ExpressWay, 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, and the NICON Luxury Hotel’s Building, Garki I, FCT, Abuja.

“In addition to the takeover of the listed properties, the court also ordered the freezing of all accounts belonging to Ibrahim and his companies including Global Fleet Oil and 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.”

The court also granted AMCON possession of shares owned by Ibrahim and his two companies domiciled in Nigerian Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited and NICON Trustees Limited.