The Asset Management Corporation of Nigeria (AMCON) has taken over 12 “prime assets” belonging to the Chairman of Global Fleet Group, Jimoh Ibrahim, and had his accounts frozen over a N69.4 billion debt.

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.


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.

Nwauzor said the assets were taken over without incident.

Baawaa:
70 billions naira debts that is three much

TooMuchStuff:
Used and dumped by BuhariApc as usual. There's no end in sight for Southern useful idiots who are ready to do the bidding of Fulanis in power.
Jimoh was used to frustrate Jegede PDP ticket in Ondo2016. Used again last month and dumped this month November because he's of no political value anymore.
Enter David Umahi of Ebonyi today. He too will end in tears like Oshiomole is currently doing in Edo.
Until the whole South unite to face Fulanis trick to tricks, brutality to brutality, gun to gun and men to men.... We would continue to be slaves in our own resources and land down south

Golan007:
[s][/s]

Too much rubbish.

TooMuchStuff:
Used and dumped by BuhariApc as usual. There's no end in sight for Southern useful idiots who are ready to do the bidding of Fulanis in power.
Jimoh was used to frustrate Jegede PDP ticket in Ondo2016. Used again last month and dumped this month November because he's of no political value anymore.
Enter David Umahi of Ebonyi today. He too will end in tears like Oshiomole is currently doing in Edo.
Until the whole South unite to face Fulanis trick to tricks, brutality to brutality, gun to gun and men to men.... We would continue to be slaves in our own resources and land down south

AndroBlaze:


Yes, it must be true, it must have been Buhari's APC that sold this penniless nobody all those government assets almost 20 years ago!!

Probably more useful southern idiots here on nairaland.