NO CAVEAT EMPTOR: NICON Hotels Is For Sale – AMCON

The attention of Asset Management Corporation of Nigeria (AMCON) has been drawn to the false advertorial, which was published in some leading newspapers in Nigeria on Monday June 28, 2021. The advertorial WAS captioned, “Caveat Emptor: This Hotel is not for sale.”

The public should disregard this misleading advertorial because NICON Hotel IS for sale. The hotel is under a Receivership/Manager appointed by AMCON following a protracted court battle between AMCON (Plaintiff/Applicant) and the trio of NICON Investment Limited, Global Fleet Oil & Gas Limited and Barrister Jimoh Ibrahim all of whom are defendants in suit No: FHC/L/CS/776/2016 for the recovery of N69.4billion debt owed AMCON.

Recall that Honourable Justice R.M. Aikawa of the Federal High Court, Lagos Division who presided over the matter on November 4, 2020, ordered AMCON to take possession of the following properties belonging to NICON Investment Limited, Global Fleet Oil & Gas Limited and Barrister Jimoh Ibrahim together with appurtenances thereto and all moveable properties contained therein.

The listed properties by the court, which AMCON was ordered to take over include: NICON Investment Limited’s building at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Limited’s building, Plot 557, Port-Harcourt Crescent, off Gimbiya Street, Abuja; NICON Lekki Limited’s building, No. 5, Customs Street, Lagos; Property at No. 25B and 25C, Kayode Abraham Street, Victoria Island, Lagos; Abuja International Hotels Limited’s building – No. 3, Hospital Road, Lagos as well as NICON building No. 40, Madeira Street, Maitama, Abuja and a host of other assets.

It is also on record that attempts made by Barrister Jimoh Ibrahim and others to set aside the order of the court, which gave AMCON possessory order over the assets of the three defendants in the matter was summarily dismissed as Honourable Justice R.M. Aikawa made by the court on November 4, 2020, subsists.

Therefore, AMCON reserves the right to sell the assets as provided in the AMCON Act as amended. 

Signed: DIG Taiwo Lakanu (Rtd.) fdc, Receivership/Manager NICON Investment Limited, Global Fleet Oil & Gas Limited

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