The Asset Management Corporation of Nigeria, AMCON, has revealed the confiscation of assets belonging to Jimoh Ibrahim over 69.4 billion in debt.
This was announced in a statement released by Head of Corporate Communication at AMCON, Jude Nwauzor, and Channels TV reported it on Wednesday, November 20, 2020.
It was also disclosed that some of Mr. Ibrahim’s account has been frozen.
The AMCON revealed that the order to freeze Ibrahim’s account was granted by the Federal Government .
The AMCON’s debt recovery partner, Pinheiro Legal Partners, was in charge of confiscating Mr Jimoh’s properties after a court order was granted.
The AMCON seized his Lagos and Abuja properties including NICON Hotels Limited building in Abuja, Abuja International Hotels Limited building, NICON Lekki Limited building, and many more.
The court also granted the AMCON ability to freeze accounts of businesses linked to Ibrahim like NICON Investment Limited, Nigerian Re-Insurance Company Plc, and others.