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Jimoh Ibrahim: AMCON heads to Appeal Court over N69.4bn debt

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Nike Popoola
The Asset Management Corporation of Nigeria said it has filed a notice of appeal at the Court of Appeal, Abuja judicial division, following Justice Okon Abang’s ruling of Tuesday, February 22, 2021, which was unsatisfactory to it.
In a statement on Wednesday titled ‘N69.4bn debt case between AMCON & Jimoh Ibrahim heads to court of appeal’, it said this was in a bid to recover a debt of nearly N70bn owed it by businessman, Jimoh Ibrahim.
Abang presided over the case involving AMCON; NICON Investment Limited (in receivership); Global Fleet Oil & Gas Limited (in receivership); Taiwo Lakanu (appointed receiver of NICON Investment Limited & Global Fleet Oil & Gas Limited and Jimoh Ibrahim; NICON Insurance Limited; Nigeria Re-Insurance Hotels Limited; Abuja International Hotels Limited and NICON Hotels Limited. ....

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Court rejects Jimoh Ibrahim's request to vacate AMCON's order on seized assets

Court rejects Jimoh Ibrahim's request to vacate AMCON's order on seized assets
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Banks' loan defaulters almost wrecked Nigerian economy – AMCON – Punch Newspapers

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Okechukwu Nnodim, Abuja
The Asset Management Corporation of Nigeria has said that loan defaulters of Deposit Money Banks who are on its books almost crashed the Nigerian economy if not for its intervention.
AMCON, an agency of the Federal Government, also stated that its intervention in the country’s aviation sector was what made Nigeria to have a semblance of an aviation industry.
AMCON has been intervening in diverse sectors of the economy by buying off the bad debts of businesses at the verge of collapse, as often times the corporation had taken over some of these ventures. ....

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