N50bn debt: No one in Nigeria can seize my property – Jimoh Ibrahim dares AMCON


The Group Chairman of NICON Investment Limited, Jimoh Ibrahim, boasted yesterday that nobody in Nigeria was capable of seizing his properties. ‎He was reacting to a report that a Federal High Court sitting in Lagos, had given Assets Management Company of Nigeria, AMCON, an interim judgment to take over his firms over N50 billion debt.

Ibrahim in a statement said, “My attention has been directed to lies being spread around by an institution called AMCON over an interim order of injunction she lied to have collected before an innocent Federal High Court in Lagos.

“AMCON is aware that we keep a deposit of Eighty-Six billion Naira or 172 million pounds with Union Bank and AMCON is aware that application to collect the money from Union Bank is pending before an Ikeja High Court. All of these facts, it has not disclosed to an innocent Federal High Court.

“AMCON deceived Nigerians to believe that they got judgment against me when there was nothing like that. An interim order of any court lasts for 14 days. AMCON is executing the interim order even when the Judge has not signed the execution writ.

“We have since filed an application to discharge the interim order. I’m not in the category of people that AMCON or anybody can intimidate. It is laughable and a wide ambition to say anyone in Nigeria can seize my property! What a day dream!!

‘’We shall abide with the law and any interim order of court even when they are made in error as we are not far away from justice.’’


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