Jimoh Ibrahim files motion to reverse AMCON seizure of property

Jimoh Ibrahim

Businessman Jimoh Ibrahim has filed a motion of notice before a Federal High Court in Lagos seeking to lift the interim order that authorised the Asset Management Corporation of Nigeria (AMCON) to take over his property over an alleged N69.4 billion debt.

Justice Rilwan Aikawa fixed the date on Monday after taking arguments from Mr Ibrahim’s counsel Niyi Akintola.

The judge had ordered the seizure on November 4 and 18 following AMCON’s application.

The asset company seized 12 property belonging to the businessman and his firms NICON Investment Limited and Global Fleet Oil and Gas Limited.

The property include the NICON Investment Limited’s building at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Limited’s building at Plot 557, Port-Harcourt Crescent, off Gimbiya Street, Abuja and the building of NICON Lekki Limited also at 5, Customs Street, Lagos.

Ibrahim and his firms are contending that the court made the seizure order in error because AMCON allegedly concealed material facts in its ex-parte application leading to the seizure order.