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AMCON Takes Over Jimoh Ibrahim’s Assets, Freezes Account Over N69 Billion Debts

The Asset Management Corporation of Nigeria (AMCON) has seized some of the assets as well as frozen the bank accounts of businessman and politician, Jimoh Ibrahim over N69 billion debts.

The agency on Wednesday took over the asset following an order granted by Justice R.M. Aikawa of the Federal High Court in Lagos.

The order for the seizures was given in respect of a suit filed by AMCON in 2016, with file number No FHL/L/CL/776/2016.

The court had earlier ordered the seizure of some asset from Ibrahim in 2016 over his debts to AMCON but he obtained a court injunction a month later discharging the interim order granted to AMCON.

Altogether, AMCON seized 12 property from Mr Ibrahim. They include the building housing 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.

The others are the building of Abuja International Hotels Limited 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 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.

In addition, the court granted AMCON possession overall 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.

See Photos Below Of Some Properties Below: