Glamtush
No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
No Result
View All Result
Glamtush
No Result
View All Result
Home News

N69.4bn Debt: Jimoh Ibrahim Seeks Reversal Of Assets Seizure

byeditor
December 1, 2020
in News, Nigeria News
Reading Time: 2 mins read
Jimoh Ibrahim
Share on FacebookShare on TwitterShare on PinterestShare on WhatsappShare on LinkedinShare on Telegram

N69.4bn Debt: Jimoh Ibrahim Seeks Reversal Of Assets Seizure

 

READ ALSO

Sunday Igboho Appeals To FG: Remove My Name From Wanted List

I Never Received ₦4bn Monthly From NDDC – Amaechi’s Wife Replies Wike

 

 

The Federal High Court sitting in Lagos has fixed Tuesday to hear an application by businessman, Jimoh Ibrahim, seeking to set aside an interim order which authorised the Asset Management Corporation of Nigeria (AMCON) to take over his properties over an alleged N69.4 billion debt.

Justice Rilwan Aikawa adjourned the case on Monday after hearing arguments from Mr Ibrahim’s counsel and a Senior Advocate of Nigeria (SAN), Niyi Akintola.

The judge had made the seizure order in a ruling on November 4 while AMCON announced on November 18 that it had effectively taken over 12 properties belonging to the businessman and his firms.

The properties include the NICON Investment Limited building (Plot 242, Muhammadu Buhari Way, Central Business District, Abuja), NICON Hotels Limited building (Plot 557, Port-Harcourt Crescent, off Gimbiya Street, Abuja), and the building of NICON Lekki Limited (No 5, Customs Street, Lagos).

AMCON’s action is against Ibrahim, NICON Investment Limited, and Global Fleet Oil and Gas Limited.

Displeased with the seizure of his assets, Ibrahim and his firms, through Akintola, approached the court with a motion on notice, seeking to discharge the interim seizure order.

They contended that the court made the seizure order in error because AMCON allegedly concealed material facts in its ex-parte application leading to the seizure order.

The applicants urged the court to set aside the order for “non-disclosure and misrepresentation of material facts.”

They also prayed the court to order AMCON to pay them N50 billion indemnity for their alleged “failure to conduct due diligence before obtaining the said order sought to be set aside and for misrepresentation and concealment of fact.”

Ibrahim and others described the move by AMCON leading to the seizure order as an abuse of court processes.

But AMCON, through its lawyer and SAN, Kemi Pinheiro, vehemently opposed the defendants’ motion on notice and prayed the court to dismiss same.

A lawyer in AMCON’s legal department, Imelda Raheem, said, “The plaintiff, at the time of obtaining the orders on the 4th day of November, 2020, made full and substantial disclosure of all material facts in relation to the subject matter of this suit.”

 

 

Related Posts

Sunday Igboho
News

Sunday Igboho Appeals To FG: Remove My Name From Wanted List

July 22, 2025
NDDC
News

I Never Received ₦4bn Monthly From NDDC – Amaechi’s Wife Replies Wike

July 22, 2025
Abuja-Heathrow
News

Air Peace To Commence Abuja-Heathrow Flights

July 21, 2025
Citizenship
News

Presidential Aide Slams UK Opposition Leader Badenoch Over ‘False’ Citizenship Claim

July 21, 2025
UNIMAID
Education

UNIMAID Alumni, Students Reject Plans To Rename University After Buhari

July 20, 2025
Sleeping Prince
News

Saudi Arabia’s ‘Sleeping Prince’ Dies After 20 Years In Coma

July 20, 2025
Next Post

Zulum Asks FG To Engage Mercenaries, Suggests Other Ways To Clear Insurgents

LATEST COVER

Priscilla Ojo

GPBN Associates Member

Fidelity Bank

Zenith Bank

Sunday Igboho

Sunday Igboho Appeals To FG: Remove My Name From Wanted List

July 22, 2025
WAFCON

Super Falcons Beat South Africa 2-1 To qualify For WAFCON Final

July 22, 2025
Anto Lecky

BBNaija’s Anto Lecky Appointed Edo State SSA For Tourism & Creative Economy

July 22, 2025
President Samia Suluhu Hassan

Access Bank Tanzania Honours  President Samia Suluhu Hassan For Exceptional Leadership

July 22, 2025
NDDC

I Never Received ₦4bn Monthly From NDDC – Amaechi’s Wife Replies Wike

July 22, 2025
Polaris Bank

2025 Maracana Children’s Fest: Polaris Bank Empowers, Impact Over 3000 Youths In Ajegunle Community And Environs

July 22, 2025
Abuja-Heathrow

Air Peace To Commence Abuja-Heathrow Flights

July 21, 2025
Osimhen

Osimhen Set For Galatasaray Medical To Finalize €75m Move

July 21, 2025
Citizenship

Presidential Aide Slams UK Opposition Leader Badenoch Over ‘False’ Citizenship Claim

July 21, 2025
ExxonMobil

ExxonMobil Nigeria Appoints Jagir Baxi As Chairman/Managing Director

July 21, 2025

GLAMTUSH

 

Glamtush publishes the latest trends in fashion, beauty, and lifestyle, as well as those making the fashion world interesting and adorable.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us

REACH OUT

Do you have any news for us? Event Coverage, Press Releases or Adverts? Then reach out to us via glamtush@gmail.com or glamtush15@gmail.com

OFFICE ADDRESS

Lagos, Nigeria

Copyright © 2022 Glamtush

  • About Us
  • Advertise
  • Contact Us
  • Disclaimer
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events

© 2022 Glamtush