The Asset Management Corporation of Nigeria has taken over some prime assets of the Chairman of Global Fleet Group, Jimoh Ibrahim.
It has also frozen all his accounts over his debts totalling N69.4bn.
AMCON’s action on Wednesday was based on order of a Federal High Court in Lagos granted by Justice R.M. Aikawa.
The commission through its debt recovery agent, Pinheiro Lagal Partners seized 12 properties belonging to Ibrahim.
The court also granted AMCON the right to seize all shares belonging to him and his two companies domiciled in Nigerian Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited and NICON Trustees Limited.
spokesman for AMCON, Jude Nwauzor, said all the listed assets in Abuja and Lagos had been successfully taken over as mandated by the court.
The listed assets are 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; a property at Plot 242, Muhammadu Buhari Way, Abuja; the former Allied Bank Building on Mile 2, Oshodi Express Way, Apapa Road, Lagos; Energy House at 94, Awolowo Road, Ikoyi, Lagos; NICON Building at 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.
State governors responsible for rising poverty, not FG, says minister
The Federal Government has blamed state governors for the rising rate of poverty in the country.
Minister of State for Budget and National Planning, Clement Agba, gave this position at a press briefing in Abuja on Wednesday after this week’s Federal Executive Council meeting.
He said the governors prioritised the construction of heavy infrastructure such as bridges and airports in cities rather than improving the lives of the rural poor.
According to him, about 72 per cent of Nigeria’s poor live in neglected rural communities.
Agba said the governors had abandoned the critical demography, preferring to spend state resources on the capital cities instead.
He said, “The governors are basically functioning in their state capitals. And democracy that we preach about is delivering the greatest goods to the greatest number of people. And from our demography, it shows that the greatest number of our people live in rural areas, but the governors are not working in the rural areas.
“Right now, 70 per cent of our people live in rural areas. They produce 90 per cent of what we eat. And unfortunately 60 per cent of what they produce is lost due to post harvest loss and it does not get to the market.
“I think from the Federal Government’s side, we are doing our best. But we need to say that rather than governors continuing to compete to take loans to build airports that are not necessary, where they have other airports so close to them, or governors now competing to build flyovers all over the place, we appeal that they should concentrate on building rural roads so that the farmers can at least get their products to the market.”
Citing the findings of a recent survey he conducted across the 109 senatorial districts nationwide, the minister said Sokoto State ranked the highest on the poverty scale, followed by the oil-rich state of Bayelsa.
“The result clearly show that 72 per cent of poverty is in the rural areas. It also showed clearly that Sokoto State is leading in poverty with 91 per cent.
“But the surprising thing is Bayelsa being the second in terms of poverty rating in the country. So, you see the issue is not about availability of money. But it has to do with the application of money,” he said.
Agba lamented that despite the Federal Government’s intervention to alleviate poverty, the results did not reflect the amount of investment made in the area.
He said, “In the course of working on the national development plan, we looked at previous plans and asked why they didn’t do as much as expected. We also looked at the issues of the National Social Investment Programme.
“At the federal level, the government is putting out so much money but not seeing so much reflection in terms of money that has been put into alleviating poverty, which is one of the reasons the government also put in place the national poverty reduction with growth strategy.
“But if the Federal Government puts the entire income that it earns into all of this without some form of complementarity from the state governments in playing their part, it will seem as if we are throwing money in the pond.”
JAC woos customers, slashes car prices in Yuletide promo
JAC Motors Nigeria has commenced a price slash special end-of-year promo for its numerous existing customers as well as potential customers across the country.
The company says it wants its customers to celebrate holidays and the festive season in a grand style through its latest sales promotion tagged, ‘JAC Motors End of Year Promo’.
It says in a statement that it will offer a discount of N1 million on any of the JAC models purchased during the promo period, which will run till the January 10, 2023.
This, according to the auto firm, is to enable the buyers to use the N1 million for other essential items needed for the family during the festive period.
Already, the auto firm says players in both the public and private sectors are already taking advantage of the promo to acquire quality vehicles this season and enjoy the mouth-watering discount.
It says, “Festive periods are synonymous with the act of giving. JAC Motors will, as part of the End of Year Promo, give its customers not just the N1 million discount on every car purchased but also ample value-added services that come with after-sale support to strengthen the durability and performances of all vehicles purchased. Now is your chance to drive your dream JAC car in this season of giving.”
Explaining why JAC Motors is offering the unique end-of-year promo, the Head of Brand and Marketing Communication of the company, Mr Franklyn Okotie, stated that the year had its fair share of challenges on everyone.
“There is no better way and time than now to thank all our customers who go the extra mile to make the JAC brand stronger and continually promote us. For this reason and more, we will always support and positively impact our customers as we steadfastly meet the vehicular and transportation needs in Nigeria.”
He advised that their existing and potential customers to log onto this website – https://jacnigeria.com/end-of-year-promo/ to get their dream car today, even as he promised that a JAC car would be a remarkable gift to a friend this season.
The firm said the JAC vehicles are of best quality, durable, beautifully designed with modern-day aesthetics, optimum performance and highly fuel efficient.
“JAC vehicles are tropicalized, made tough to withstand all the challenging terrains on Nigerian roads. Elizade Autoland offers JAC passenger cars, commercial vehicles and light duty trucks,” it added.
Kia offers football fans fun, prizes, drive in latest EV in Qatar
As the ongoing 2022 FIFA World Cup moves into the round of 16, high flying Korean automaker, Kia Motors, says it is providing more exciting moments for spectators in the Qatar stadiums where matches are being played.
The auto company is activating what it calls two must-see activations along with a host of exciting prizes for football fans visiting the match centres.
The activations will be hosted at Al Bayt Stadium, Al Thumama Stadium, and Khalifa International Stadium, where Kia’s latest generation EV6 GT, Sportage, K5, Telluride, K8, Sorento will all be on display, Kia says in a statement.
According to the firm, the first activation offers a thrilling simulator experience “where spectators can drive a Kia vehicle of their choice from the automaker’s latest line up.”
The second activation invites football fans to win big by participating in a football challenge, where successful participants can walk away with a Kia branded cap, towel or wristband.
It says, “Visitors can check out Kia’s spot at the FIFA Fan Festival™ zone, which is the perfect place to experience the World Cup, as it is the central destination where fans from all over the world can come together to share their love of football and celebrate the electrifying atmosphere of the global event.
“At the FIFA Fan Festival™, Kia’s Ground of Inspiration will offer audiences a chance to check out the Kia EV9 Concept, which embodies an adventurous and recreational form with its rugged and upright stance.
“Fitted with a solar panel built into the car bonnet and an interior made from sustainable materials, this electric car reimagines what an all-electric vehicle can be.”
It also says alongside the activations, the automaker will support 64 Official Match Ball Carriers (OMBC) across the tournament.
The statement says, “Children from about 20 different nations globally will enjoy the once-in-a-lifetime experience of carrying the official match ball to the pitch at the start of all matches.
“As a partner of the FIFA World Cup™, the automotive brand will support the operation of the world’s greatest sporting event by providing an official event vehicle fleet that will include Kia passenger cars to facilitate the safe and convenient mobility of players, referees, VIPs and staff, as well as Kia-branded buses specifically dedicated to transport national teams and referees.”
Some public servants earn more salary than the president – RMAFC boss
Court orders arrest, imprisonment of COAS
We’ll recover semester, session lost to strike – ASUU
CCECC completes Apapa port link to Lagos-Ibadan railway
Customs: Vehicle tariff reduction to begin next week
Biden, Treasury Secretary say Republicans COVID-19 aid too small
metro4 days ago
How Osun AG avoided Gov Oyetola over payment of salaries till last day
Opinion6 days ago
Reflections on Sūratu Yūsuf: Lessons For Everyday Life (I)
metro4 days ago
APC Candidate to Be Tried for ‘Defrauding Kuwait Citizen of $1.3m’
News3 days ago
24 hours after swearing-in, Adeleke dethrones three Osun monarchs
News3 days ago
Senate uncovers N200m fraud in Labour ministry payments
Uncategorized3 days ago
Lagos Fourth Mainland Bridge to have three tollgates, three bidders shortlisted
Entertainment6 days ago
Just in: Gospel musician, Sammie Okposo, slumps, dies at 51
Politics4 days ago
2023: I’ll Name, Shame Oil Thieves If Elected – Atiku