Steer Clear Of Jimoh Ibrahim Assets AMCON Warns

The Asset Management Corporation of Nigeria (AMCON) has issued a strong warning to interested parties against the sale or lease of any NICON assets previously belonging to Jimoh Ibrahim. The government agency said it is in rightful possession of the assets. 

In a notice, the company on Tuesday said, “The orders of the Federal High Court Interim Possessory Orders were granted in favour of Asset Management Corporation of Nigeria (AMCON) against the properties of Barrister Jimoh Ibrahim and his companies together with all movable properties and all their shares.

“Further Order made in favour of AMCON was freezing of all bank accounts of barrister Jimoh Ibrahim and his companies in all the banks in Nigeria.”

AMCON listed the assets to include all the properties of NICON Investment Limited, NICON Insurance Limited, NICON Re-insurance Corporation, NICON Asset Management Company Limited, Global Fleet Oil and Gas Limited and Barrister Jimoh Ibrahim, which it said, “are not for sale nor for lease. Any dealings in the properties are therefore invalid, illegal and of no effect.

“Any person (corporate or individual) who wants to deal or acquire an interest in any of the properties must do so through the Receiver manager.”

AMCON had in November 2020, seized all Jimoh Ibrahim’s assets over a N70 billion debt following the implementation of a court order. The Bureau of Public Enterprise (BPE) had in July appointed an interim board of the NICON Insurance, led by Alhaji Lamis S. Dikko, following the takeover of the asset by AMCON.

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