Jimoh Ibrahim in N69.4bn debt mess, as AMCON seizes prime assets



Twelve prime assets belonging to the Chairman of Global Fleet Group, Barrister Jimoh Ibrahim, have been taken over by the Asset Management Corporation of Nigeria (AMCON), over a whopping N69.4 billion debt. This is in addition to freezing the business mogul’s various accounts.

The AMCON’s action was pursuant to an order by Justice R.M. Aikawa of the Federal High Court in Lagos, according to a statement by the corporation’s Head of Corporate Communication, Jude Nwauzor, Wednesday.

Jimoh Ibrahim is the Chairman and Group Managing Director/CEO of Global Fleet Group, a diversified conglomerate based in Nigeria, with business interests and subsidiaries in neighboring West African countries and beyond.

Mr. Nwauzor said the court order equally directed AMCON to take over the businessman’s Nigeria Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited and NICON Trustees Limited.

”The court 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 whom 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.

“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.

  • Tag: Jimoh Ibrahim, AMCON

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