Following the Group Managing Director of Energy Group, Jimoh
Ibrahim’s indebtedness to the tune of N50 billion, a Federal High Court in
Lagos has granted an interim injunction to the Assets Management Corporation of
Nigeria to take over some assets belonging to the Billionaire Businessman.
Justice Saliu Saidu made the order following an application
to that effect by AMCON’s lawyer, Yusuf Ali (SAN).
Saidu said the order would subsist until a suit filed by
AMCON against Ibrahim and his companies was
fully determined.
Justice Saidu also restrained Ibrahim and the companies from
making any withdrawal from all their known banks accounts pending the
determination of the suit by AMCON.
The corporation claimed it is being owed over N4.5 trillion
by about 400 obligors, which it said had become “recalcitrant despite obvious
efforts of the corporation”, adding: “To deal with the situation, however,
AMCON recently increased the tempo of its recovery activities using firmer
negotiation strategies as well as utilising the special enforcement powers
vested by the AMCON Act to compel some of its debtors, especially those that
are politically exposed and business heavyweights, to repay their debts.”
The companies affected by the seizure order are 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
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