AMCON seizes assets and freezes accounts of Global Fleet Group chairman, Jimoh Ibrahim

Asset Management Corporation of Nigeria (AMCON) has announced it has seized assets and frozen accounts belonging to Jimoh Ibrahim, the chairman of Global Fleet Group, over N69.4 billion debts.

In a statement published on Wednesday 19th November 2020, by Jude Nwauzor, head of Corporate Communication at AMCON, the body moved against the interests of Nigerian businessman and lawyer, Barrister Jimoh Ibrahim.

According to Channels TV report, Justice R.M. Aikawa of the Federal High Court in Lagos had given the seizure orders. AMCON acted through Pinheiro Legal Partners, its legal debt recovery agent.

Most of the properties that the court listed for seizure were located in Lagos and Abuja. They include NICON Investment Limited building 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 NICON Lekki Limited building at No. 5, Customs Street, Lagos.

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Other properties seized are Abuja International Hotels Limited building 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.

Also, the court order covered freezing the accounts of Jimoh Ibrahim and his companies, Global Fleet Oil & Gas Limited and NICON Investment Limited. AMCON also took over the businessman and his companies’ shares in Nigerian Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited (NSL) and NICON Trustees Limited.

Jimoh Ibrahim has banks in Ghana and São Tomé. He had run for the gubernatorial election in Ondo State in 2003. As of when this article was published, there are no further details available on the N69.4 billion debts Jimoh Ibrahim allegedly owes.