The seizure of the assets is pursuant to an order by Justice R.M. Aikawa of a Federal High Court, in Lagos.
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AMCON on Wednesday took effective possession of all 12 properties through its Debt Recovery Agent – Pinheiro Legal Partners, which include the following:
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AMCON on Wednesday took effective possession of all 12 properties through its Debt Recovery Agent – Pinheiro Legal Partners, which include the following:
-The building of NICON Investment Limited at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja;
-NICON Hotels Limited building at Plot 557, Port-Harcourt Crescent, off Gimbiya Street, Abuja and the building of NICON Lekki Limited also at No. 5, Customs Street, Lagos.
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Other properties include:
-The building of Abuja International Hotels Limited located at No. 3, Hospital Road, Lagos;
-Property at Plot 242, Muhammadu Buhari Way, Abuja;
-former Allied Bank Building on Mile 2, Oshodi Express Way, Apapa Road, Lagos;
-Energy House located on No. 94, Awolowo Road, Ikoyi, Lagos;
-NICON Building at No. 40, Madeira Street, Maitama, Abuja;
-Residential Apartment at Road 2, House A14, Victoria Garden City, Lagos;
-NICON Hotels Building at Plot 3, Road 3, Victoria Garden City,
-NICON Luxury Hotel’s Building, Garki I, FCT, Abuja.
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In addition to the takeover of the listed properties, the court also ordered the freezing of all accounts belonging to Ibrahim and his companies including Global Fleet Oil & Gas Limited and NICON Investment Limited all of who are defendants in the suit No. FHL/L/CL/776/2016 presided over by Justice Aikawa on Wednesday November 4, 2020.
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The court also granted AMCON possession over all shares belonging to the embattled Ibrahim and his two companies that are domiciled in Nigerian Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited and NICON Trustees Limited.
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In addition to the takeover of the listed properties, the court also ordered the freezing of all accounts belonging to Ibrahim and his companies including Global Fleet Oil & Gas Limited and NICON Investment Limited all of who are defendants in the suit No. FHL/L/CL/776/2016 presided over by Justice Aikawa on Wednesday November 4, 2020.
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The court also granted AMCON possession over all shares belonging to the embattled Ibrahim and his two companies that are domiciled in Nigerian Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited and NICON Trustees Limited.
from @punchnewspapers on Instagram.
Everyday for the thief, one day for the owner. This is what happens when you purposely take ownership of what is not yours.
ReplyDeleteNa wa
ReplyDeleteMy prayers are with you Jimoh.
ReplyDeleteAnything he touches dies. That is a known fact in the Nigerian business world. Does he do it intentionally or he is just a terrible business man?
ReplyDeleteBig man lifestyle is what is killing him ,taking out money and nothing to take in,under paid staffs that will kuku say let it go to ruins no be my Papa company as he's not a nice nigga..tone com borrow papi money o st least you enjoyed some proceeds.. Na people eleda catch the wereh
DeleteSo na bank loan this mumu dey chop since🤓🤓🙈🙈🙈🙈🙈🙈🙈
ReplyDeleteNa bank loan many so called billionaires for Naija dey carry flex. U no know before?
DeleteOga ju!
ReplyDeleteWhy could he not sell off one, two, three of the properties in Abuja and offset the debt? This must be humiliating to his personality. Or did he borrow with intention not to pay? Or with the mindset of "nothing go happen"
ReplyDeletea lot of big men borrow and divert the funds to other matters unrelated to the purpose of the loan. And yes there is the mindset of nothing go happen as I can bribe and blackmail my way out
DeleteMay God see him through. Living lavishly on borrowed money isn’t advisable. He lost so much money trying to contest elections that never yielded any fruit in the hope he could make money in Govt and keep the companies afloat.
ReplyDeleteThat is always their plan B.To enter politics and embezzle after taking huge loans.
DeleteIf he has these amount of properties, what stops him from selling some to pay his debts? 😯😵
ReplyDeleteObioma nwannem, soro m jua ya.
DeleteBusiness will be moving but they will sit on people's money
He should have sold off Toke too
ReplyDeleteAs I was going home yesterday I saw how AMCON used red markers on Nicon Luxury Hotel and I told my sister this guy is in serious debt that's why they seized this property, didn't know other properties were among. This is not the first time his property is being seized as a result of debt but this one is too glaring even their clients will notice. The way he manages his debts is how he manages his staff with reckless abandon. Salary delay and all.
ReplyDeleteHow the mighty has fallen
ReplyDeleteAwon slay monies on internet!
ReplyDeleteJimoh Ibrahim. It will never be well with you. The God of the innocent will always torment you. People work for you without salary for years. You force them to sign undertaking yearly to forfeit salaries owned. In your company there is no promotion or salary increment. You deduct payee pension from your staff monthly without remitting it to their pension administrators for 10 years now. Almost all your staff look unkept due to non payment of salaries. Why will an employer ask all his staff to submit their full photograph?. What did you do with those pictures.
ReplyDeleteEverything you touch dies. NICON Luxury, NICON Energy, Newswatch magazine, Air Nigeria, Nigeria Re insurance, NICON Insurance, NICON property etc, You employ people as permanent staff but in the real sense they are contract staff. You only pay one month net salary in lieu of notice when you sack any staff which is a monthly occurrence in your company. When was the last time you paid your staff salary?.
My uncle worked in your insurance company for 14/years as a graduate. He was not promoted for one day or received any salary increment. He was always begging for money. We got to know the truth when he was sacked with NOTHING. Nothing is an understatement. His colleagues came to the house and were discussing their predicament as staff and l wept. We went to my uncle pension administrator and was told his pension has not been remitted for 10 years. He has less than 10k in his pension. The man is very depressed. He was paid only net of one month salary in lieu of notice for sacking him which came 4 months from the day he was sacked. Run for your life if you are working for this man
God must punish him.
Can you imagine 🙄 only in Nigeria,lawless country.
DeleteWtf! I take my prayers for him back!
DeletePray for yourself. He has houses abroad. I doubt Amcon will take those plus his wife supermarket at APVgc
DeleteHmm.. He looks like the late former governor of Oyo State. Ajumobi.
ReplyDeleteHis problems are any business he enters dies.
ReplyDeleteMaybe that is what the cult he belongs do. It dies and the man remains rich.
Shame on him for putting families in pains
This post reminds me of the movie bling lagosians.
ReplyDeleteJimoh Ibrahim. It will never be well with you. The God of the innocent will always torment you. People work for you without salary for years. You force them to sign undertaking yearly to forfeit salaries owned. In your company there is no promotion or salary increment. You deduct payee pension from your staff monthly without remitting it to their pension administrators for 10 years now. Almost all your staff look unkept due to non payment of salaries. Why will an employer ask all his staff to submit their full photograph?. What did you do with those pictures.
ReplyDeleteEverything you touch dies. NICON Luxury, NICON Energy, Newswatch magazine, Air Nigeria, Nigeria Re insurance, NICON Insurance, NICON property etc, You employ people as permanent staff but in the real sense they are contract staff. You only pay one month net salary in lieu of notice when you sack any staff which is a monthly occurrence in your company. When was the last time you paid your staff salary?.
My uncle worked in your insurance company for 14/years as a graduate. He was not promoted for one day or received any salary increment. He was always begging for money. We got to know the truth when he was sacked with NOTHING. Nothing is an understatement. His colleagues came to the house and were discussing their predicament as staff and l wept. We went to my uncle pension administrator and was told his pension has not been remitted for 10 years. He has less than 10k in his pension. The man is very depressed. He was paid only net of one month salary in lieu of notice for sacking him which came 4 months from the day he was sacked. Run for your life if you are working for this man
God must punish him.
WHAT!! WHAT!! WHAT DID I JUST READ OOOO! HUMANS ARE WICKED OO!
DeleteNawa ooo eviluuu man
DeleteEverything your uncle said about Jimoh are true and even more. I worked for Jimoh too and was also sacked with one month salary in lieu of notice. Sacking is a normal thing in his company. If he owns salary for like 7 months. He will instruct his management to sack 30% or 50% of he staff. You will just get to work and receive sack letter without query or committing any crime. All the regulatory bodies on staff matters know him as staff complains get to them daily yet they cant do anything. This is Nigeria where the rich is untouchable. In his company. Staff don't have access to medial so if you fall sick. You are on your own. If you die while in service nothing for you. I hate thinking about all the years l worked in his company. I don't blame him. I blame Nigeria. If there is employment in Nigeria. Who will work for Jimoh even for a day.please look after your uncle. I was depressed too not because l was sacked but but the sack brought reality that l have worked since 2008 without a kobo in my savings account more or less any investment. Thank God l am alive. I am hopeful.
DeleteAnd he will be giving motivational speech back then.
ReplyDeleteThe truth about the rich in this country is that they live on debt.
May God see you through.
Don't blame JI alone ,his godfathers OBJ and Papa DO encouraged him
ReplyDeleteThe Rich also cry
ReplyDeleteThey should also seize this man. He is a danger and problem to this country. Very wicked man
ReplyDeleteWho keeps giving him these national assets as a chronic debtor, loan defaulters and failed business man? I think banks who give loans to these sorts should be revealed so their shareholders can demand the sack of that management. Also those employees whom he stole their pension should see a lawyer to demand the money and other compensation. It’s best to strike now. He will settle it. Maybe the court can add the money on his debts.
ReplyDeleteJimoh nna ndo, next time do better by being wise and not foolish.
ReplyDeleteHmmmm this man reminds me of Air Nigeria
ReplyDelete