Court Grants AMCON Permission To Seize Jimoh Ibrahim’s Assets

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A Federal High Court sitting in Lagos presided by Justice Saliu Saidu yesterday granted an interim injunction to the Asset Management Corporation of Nigeria (AMCON) to restrained Group Managing Director, Energy Group, Mr. Jimoh Ibrahim from dealing with any assets or funds belonging to NICON Investment, Global Fleet Oil and other assets over his indebtedness to the tune of N50bn.

The order was granted following an application by AMCON’s lawyer, Yusuf Ali (SAN), where he alleged that NICON Investment Limited, Global Fleet Oil and Gas Limited and Ibrahim were indebted to AMCON.

The affected assets include NICON Investment Limited, Global Fleet Oil and Gas Limited, Nigeria Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited and NICON Trustees Limited.

The court also order freezing of all the bank accounts of the above-named companies and their promoter, Mr. Jimoh Ibrahim until the matter is finally determined.

The court order covers the assets of NICON Investment Limited, Global Fleet Oil & Gas Limited and Barrister Jimoh Ibrahim in Abuja, Lagos, Dubai and London. The freezing order also affects all bank accounts held and/or maintained by NICON Investment Limited, Global Fleet Oil & Gas Limited and Barrister Jimoh Ibrahim in First Bank Plc, Guaranty Trust Bank Plc, Diamond Bank Plc, United Bank of Africa Plc, Access Bank Plc, Citibank Nigeria Limited and Sterling Bank Plc.

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