AMCON Takes Effective Possession of Jimoh Ibrahim’s Properties and Freezes Account.

Jimoh Ibrahim

AMCON Takes Effective Possession of Jimoh Ibrahim’s Properties and Freezes Account.

The Asset Management Cooperation of Nigeria, (AMCON) has confiscated twelve properties owned by Jimoh Ibrahim and also froze his account over a debt of 69.4bn.

Jimoh Ibrahim, the Chairman and Chief Executive officer of Global Fleet groups owes AMCON 69.4bn. However the cooperation sued him to court. On Wednesday the 18th of November, 2020 the court enjoined the freezing of his accounts and confiscation of his properties.

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The order was given by Justice R.W. Aikawa from the Federal High Court in Lagos state. With immediate effect the cooperation took over Ibrahim’s assets via its Debt Recovery Agent — Pinheiro Legal Partners.

According to reports, the sanctioned properties include, the building of 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 №5, Customs Street, Lagos.

Some other properties include: The building of Abuja International Hotels Limited located at №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 №94, Awolowo Road, Ikoyi, Lagos; NICON Building at №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.

The court equally ordered AMCON to confiscate Ibrahim’s personal and companies’ accounts.

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