AMCON seizes Jimoh Ibrahim’s prime assets over N69.4bn debt
The Asset Management Corporation of Nigeria (AMCON) said it has taken possession of twelve prime assets
belonging to Barrister Jimoh Ibrahim, the chief promoter of Global Fleet Oil & Gas Limited and NICON
Investment Limited in Lagos and Abuja over-indebtedness of nearly N70billion.
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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.
Besides, the court granted AMCON possession overall 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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