The Senator-elect for Ondo South Senatorial District and Chairman of Global Fleet Group, Jimoh Ibrahim, has slammed the Asset Management Corporation of Nigeria (AMCON) for allegedly twisting the judgment of an Appeal Court in a suit where he challenged the seizure of 12 of his assets over his alleged N69.4bn debt.
AMCON, on Thursday, announced that a Lagos State Court of Appeal dismissed an appeal brought before it by Ibrahim. It said the billionaire businessman was challenging the seizure of 12 of his assets by AMCON, and freezing of all his accounts.
Reacting to the statement by AMCON titled ‘Senator-Elect, Jimoh Ibrahim loses appeal to recover assets seized by AMCON, unfreeze bank accounts over N69.4bn debt owed’, Ibrahim described the statement as fake news.
“Fake release, we actually won at the court of appeal. It was AMCON that appealed to Supreme Court,” he said after sending a court order.
According to the statement by AMCON, ”The judges upheld the arguments of AMCON’s lead counsel Mr Kemi Pinheiro, a Senior Advocate of Nigeria. Pinheiro had prayed the court to dismiss Ibrahim’s application. Ibrahim who is now a senator-elect the (first defendant) who will be serving in the 10th Senate of the Federal Republic of Nigeria, and his company (second defendant) were also represented by two Senior Adcocates of Nigeria SANs, Mr Niyi Akintola and Mr Bolaji Ayorinde, respectively.
“In response to the order of Justice Rilwan Aikawa of the Federal High Court in Lagos, which was issued on November 18, 2020, AMCON took possession of all 12 properties through its Debt Recovery Agent – Pinheiro Legal Partners.
“These assets include 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.”
