Jimoh Ibrahim, NICON to challenge AMCON takeover of assets - Newstrends
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Jimoh Ibrahim, NICON to challenge AMCON takeover of assets

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NICON Investment and billionaire businessman Jimoh lbrahim are set to approach the court for an order quashing the interim injunction obtained by AMCON against them.
AMCON had in a statement last week said it had taken over Ibrahim’s assets over an unsettled N70 billion loans obtained from Union Bank.
AMCON listed the assets as the building of NICON Investment Ltd at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Ltd on Plot 557, Port-Harcourt Crescent, Off Gimbiya Street, Abuja and the building of NICON Lekki Ltd also on No. 5, Customs Street, Lagos.
Others are the building of Abuja International Hotels Ltd located on No. 3, Hospital Road, Lagos; another Property on 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 as well as the NICON Luxury Hotel’s Building, Garki I, FCT, Abuja.”
A report by The Nation said both NICON Investment and Ibrahim would plead before the court that the order granting AMCON possession of the assets was not properly obtained.
They are set to contend that AMCON did not avail the court of all the facts of the dispute between them.
Some of the questions they would want the court to answer are:
• How did AMCON secure a second interim injunction when the first injunction it obtained some years ago had allegedly been discharged?
• Did AMCON inform the court that on October 2, 2019 Justice Oguntoyinbo of the Federal High Court, Lagos, in a suit it instituted against NICON Investment and others, held that in view of the facts contained in the affidavit before the court, the court was minded to stay proceeding in the suit pending the outcome of the suit before a Lagos high court presided over by Justice Oyefeso?
NICON Investment and Ibrahim are wondering if judicial notice was taken of Justice Oguntoyinbo’s ruling in which he said “the lone issue formulated for determination by the court is hereby resolved against the plaintiff (AMCON) and in favour of the defendants (NICON INVESTMENT).”
A NICON Investment executive, in an interview with The Nation, wondered whether Justice Aikawa’s attention was drawn to Justice Oguntoyinbo’s order before the temporary order granting AMCON the possession of the assets was given.
He said, “In the High Court of Lagos before Justice Oyefeso, Union Bank, in her statement of defence filed in court, admitted that Jimoh had a deposit of over £137 million.
“The bank prayed the court as follows: ‘an order for the sale of the funds standing to the credit of the pound sterling fixed deposit account maintained by the 1st defendant to the counter claimant; the proceed of which shall be applied in liquidation or part liquidation of the judgment sum as may be awarded against 1st and 2nd defendant counter claimants.”
According to him, the £137 million with Union Bank is three times higher than the amount he and his companies borrowed from the bank.
Besides, he claimed the bank acknowledged another deposit of £125 million from another company of his, Global Fleet Oil and Gas Limited, making a total deposit of £250 million with it 10 years ago at five per cent interest.
“Out of the total deposit of £250 million with Union Bank, £137million was used to secure the loan, he said adding, who is owing who?” he asked.
Ibrahim and his company, the executive said, are upbeat that AMCON cannot sustain the interim order against him and his companies “because there is no returnable date on the court file.”
He also claimed that AMCON “did not sign an undertaking for a temporary injunction in the event that facts were misrepresented to the court as requested by the rules of the Federal High Court.”
According to him, Mr. Kemi Pinheiro (SAN), AMCON counsel in the new case had represented Union Bank in the suit before Justice Oguntoyinbo while Mr. Yusuf Alli (SAN), represented AMCON. Union bank, according to him, opposed AMCON joining the case at the Lagos High Court.

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Agege Council Announces Free 3kg Cooking Gas Refill for 4,000 Residents

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Chairman of Agege Local Government Area, Abdulganiyu Obasa

Agege Council Announces Free 3kg Cooking Gas Refill for 4,000 Residents

The Chairman of Agege Local Government Area, Abdulganiyu Obasa, has announced a free 3kg cooking gas refill programme for 4,000 residents of the council area.

Obasa made the announcement via a post on X on Friday, stating that the initiative is aimed at reducing household energy costs and providing immediate relief at the grassroots amid rising prices of Liquefied Petroleum Gas (LPG).

According to the council chairman, beneficiaries will be selected from the seven wards in Agege, with equal allocation across all wards to ensure fairness, accessibility, and inclusiveness.

“As part of our continued commitment to easing the daily burdens faced by our people, I am pleased to announce a free cooking gas refill programme for 4,000 residents across the seven wards in Agege,” Obasa said.

He explained that designated gas refill stations have been assigned to each ward, adding that the distribution would run on a first-come, first-served basis. Residents are required to bring their personal gas cylinders, as only refill services will be provided.

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Obasa warned that once the allocated slots for any ward are exhausted, the exercise would be concluded in that location.

The council boss said the intervention is part of measures to cushion the impact of rising gas prices, support vulnerable households, and promote the use of cleaner and safer cooking energy.

“This is one of several people-focused programmes we are implementing to improve quality of life, encourage clean energy adoption, and demonstrate that governance must be felt where it matters most — in our homes and communities,” he stated.

Obasa is the son of the Speaker of the Lagos State House of Assembly, though the council stressed that the initiative is part of its local social intervention programmes.

The announcement has attracted mixed reactions on social media, with many residents welcoming the scheme as timely relief amid economic pressure.

However, some critics questioned the sustainability of the intervention, arguing that job creation, empowerment programmes, and small business support would provide more long-term economic solutions.

As of the time of filing this report, no official response had been issued by Obasa to the criticisms, though council officials said further details on distribution dates and locations would be communicated through official channels.

Agege Council Announces Free 3kg Cooking Gas Refill for 4,000 Residents

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UniAbuja Student Sadiya Usman Found Safe After Two Days Missing

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Sadiya Usman

UniAbuja Student Sadiya Usman Found Safe After Two Days Missing

The University of Abuja (UniAbuja) has confirmed that 100-level student Sadiya Usman has been found safe after being reported missing earlier this week. The university expressed relief and gratitude to the public and security agencies for their assistance in locating the student.

Sadiya Usman, who is enrolled in the Department of Accounting, was last seen leaving her residence at Kontagora Estate, Gwagwalada, Abuja, on Tuesday, 18 February 2026, at around 8:00 a.m. She was on her way to the university’s Main Campus to sit for her Computer-Based Test (GST 111) but did not arrive for the exam.

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After her disappearance, her guardian reported her missing when all attempts to reach her by phone were unsuccessful. The university promptly activated internal safety protocols and collaborated with security agencies, campus authorities, and the public to ensure her safe recovery.

The student was eventually located late on Thursday, 20 February 2026, around 11:49 p.m., and is reported to be safe, unhurt, and in stable condition. Authorities confirmed that coordinated efforts between the university, law enforcement, and concerned members of the public were instrumental in her recovery.

The university reaffirmed its commitment to student safety and welfare, promising continuous updates as necessary. It also thanked those who responded to the public appeal for information and urged students and parents to remain vigilant about safety.

This incident highlights the importance of campus security measures, timely reporting of missing persons, and the role of community involvement in safeguarding students.

UniAbuja Student Sadiya Usman Found Safe After Two Days Missing

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Police to Arrest TikToker Mirabel After She Recants False Rape Claim

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TikToker and aesthetic vendor, Mirabel

Police to Arrest TikToker Mirabel After She Recants False Rape Claim

The Ogun State Police Command has confirmed plans to arrest and prosecute TikTok user Mirabel after she admitted that her viral rape allegation was false, authorities and investigative reports indicate.

Mirabel, a social media influencer, first sparked national attention after posting videos alleging she had been sexually assaulted in her home in Ogijo, Ogun State. The posts quickly went viral, drawing widespread outrage, calls for justice, and prompting the police to launch an immediate investigation.

An audio recording of a phone conversation, shared online by social media personality VeryDarkMan (VDM), reportedly captures Mirabel acknowledging that parts of her story were fabricated. In the recording, she apologises and admits creating a threatening TikTok account to support her narrative, claiming she had been taking drugs at the time and “was not thinking clearly” when posting the videos.

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A police source said senior officers, including the Divisional Police Officer, were at the hospital where Mirabel was receiving medical care. Once she is discharged, she will be taken into custody and formally charged under provisions of Nigeria’s Criminal Code relating to false reporting of sexual offenses. “The essence is to serve as a deterrent to others,” the source added.

The Ogun State Police had earlier ensured that Mirabel received medical treatment and support, following procedures to protect her health while the investigation continued. The Lagos State Domestic and Sexual Violence Agency (DSVA) confirmed that the incident fell outside its jurisdiction and forwarded all relevant information to the Ogun authorities.

This development has sparked public debate about the responsible use of social media, the impact of false allegations, and the importance of evidence-based reporting. Legal experts warn that fabricating sexual assault claims can carry serious criminal penalties and may undermine the credibility of genuine victims.

Authorities continue to urge the public to avoid spreading unverified claims and to cooperate with law enforcement in ongoing investigations. Updates on the case will be issued by the Ogun State Police Command as formal legal proceedings begin.

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