AMCONGlobal Fleet Group Chairman, Barr. Jimoh Ibrahim is said to have forfeited about twelve properties to the Asset Management Corporation of Nigeria AMCON on Wednesday, November 4,2020 in excess of debt amounting to 69.4bn.

The seizure of the assets is pursuant to an order by Justice R.M. Aikawa of a Federal High Court, in Lagos.

AMCON, few weeks ago, took effective possession of all twelve (12) properties through its Debt Recovery Agent, Pinheiro Legal Partners.

Properties seized by AMCON 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, NICON Lekki Limited at No. 5, Customs Street, Lagos, Abuja International Hotels Limited located at No. 3, Hospital Road, Lagos, the former Allied Bank Building on Mile 2, Oshodi Express Way, Apapa Road, Lagos, Energy House located on No. 94, Awolowo Road, Ikoyi, Lagos.

Other assets AMCON seized include, 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 to the takeover of the listed properties, the court also ordered the freezing of all accounts belonging to Ibrahim and his companies including Global Fleet Oil & Gas Limited and NICON Investment Limited all of who are defendants in the suit no. FHL/L/CL/776/2016 presided over by Justice Aikawa.

The court also granted AMCON possession over all shares belonging to Jimoh Ibrahim and his two companies that are domiciled in Nigerian; Re-Insurance Company Plc and NICON Insurance Company Plc, Nigeria Stock broker.

AMCON’s Spokesman, Jude Nwauzor said all the assets that are listed by the court and scattered around Abuja and Lagos have been successfully taken over by AMCON with the help of court bailiffs and officers and men of the Nigerian police force as mandated by the court

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