AMCON Goes After Jimoh Ibrahim, Seizes Properties, Freezes Accounts Over N69.4 Billion Debt

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The Asset Administration Company of Nigeria (AMCON) on Wednesday took over twelve belongings and all financial institution accounts belonging to Jimoh Ibrahim, the Chairman of World Fleet Group, over N69.4 billion debt.

The motion was in pursuant to an order issued by Justice R.M. Aikawa of a Federal Excessive Courtroom, in Lagos.

The asset administration by means of its debt restoration agent, Pinheiro Authorized Companions, took possession of all 12 properties, together with the constructing of NICON Funding Restricted at Plot 242, Muhammadu Buhari Approach, Central Enterprise District, Abuja; NICON Inns Restricted constructing at plot 557, Port-Harcourt Crescent, Off Gimbiya Avenue, Abuja and the constructing of NICON Lekki Restricted additionally at No. 5, Customs Avenue, Lagos.

Different properties seized by AMCON embody the constructing of Abuja Worldwide Inns Restricted positioned at No. 3, Hospital Highway, Lagos; one other Property at Plot 242, Muhammadu Buhari Approach, Abuja; the previous Allied Financial institution Constructing on Mile 2, Oshodi Categorical Approach, Apapa Highway, Lagos; Power Home positioned on No. 94, Awolowo Highway, Ikoyi, Lagos; NICON Constructing at No. 40, Madeira Avenue, Maitama, Abuja; a Residential House at Highway 2, Home A14, Victoria Backyard Metropolis, Lagos; NICON Inns Constructing at Plot 3, Highway 3, Victoria Backyard Metropolis, Lagos in addition to the NICON Luxurious Lodge’s Constructing, Garki I, FCT, Abuja.

Additionally, the courtroom ordered the freezing of all financial institution accounts belonging to Ibrahim’s corporations together with World Fleet Oil & Fuel Restricted and NICON Funding Restricted. All of the accounts are defendants within the go well with No. FHL/L/CL/776/2016 presided over by Justice Aikawa on Wednesday November 4, 2020.

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