BEVERLY HILLS, June 20, (THEWILL) – Justice Saliu Saidu of a Federal High Court in Lagos has granted an interim injunction to the Asset Management Corporation of Nigeria (AMCON) to seize some assets belonging to Jimoh Ibrahim over his indebtedness to the tune of N50bn.
The order was given 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 to the tune of over N50bn.
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.
Saidu also restrained Ibrahim and the companies from making any withdrawal from all their known bank accounts pending the determination of the suit by AMCON against Ibrahim and his companies was fully determined.
THEWILL recalls that AMCON had declared that it was being owed over N4.5tn by about 400 obligors which it said had become recalcitrant despite obvious efforts of the corporation to recover the debts.
