AMCON seizes Jimoh Ibrahim’s properties and freezes his accounts over N69.4bn debt

12 assets belonging to Chairman of Global Fleet Group, Jimoh Ibrahim has been taken over by the Asset Management Corporation of Nigeria (AMCON) who also froze his accounts.

AMCON on Wednesday November 18, took effective possession of all the 12 properties through its Debt Recovery Agent, Pinheiro Legal Partners, pursuant to an order issued by Justice R.M. Aikawa of a Federal High Court, in Lagos over the N69.4bn debt Jimoh reportedly owes.

The 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 No. 5, Customs Street, Lagos.

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 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.

Accounts belonging to Ibrahim and his companies including Global Fleet Oil & Gas Limited and NICON Investment Limited were also frozen.

Commenting on the debt recovery process, AMCON’s spokesperson Jude Nwauzor said they successfully took over the properties with the help of court bailiffs, officers and men of the Nigerian police as mandated by the court.

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