AMCON takes over Jimoh Ibrahim’s assets over N69.4bn debt

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.