Home News Controversial Businessman, Jimoh Ibrahim In Anguish Over N69.4billion Debt Owed Nigerian Govt

Controversial Businessman, Jimoh Ibrahim In Anguish Over N69.4billion Debt Owed Nigerian Govt

by Good News

The Court docket of Enchantment sitting in Abuja has dominated that every complaints including the contempt complaints initiated by Nigerian businessman, Barrister Jimoh Ibrahim and Co wishes to be stayed pending the listening to, and resolution of the substantive allure.


In Enchantment No. CA/ABJ/CV/269/2022 in the case between the Asset Management Company of Nigeria (AMCON) vs Barrister Jimoh Ibrahim, the businessman used to be neutralised from executing the said contempt complaints give an explanation for, which he obtained below questionable circumstances.


The utility for preserve used to be argued on behalf of AMCON by its defence counsel A.U. Mustapha SAN & Co on March 30, 2022, and after listening to the arguments, the Court docket of Enchantment delivered its ruling on Friday April 22, 2022.



Take that Ibrahim, NICON Investment Limited, NICON Insurance protection Limited, Nigerian Reinsurance Company owe the Asset Management Company of Nigeria (AMCON) N69.4billion. The agency said he had proven no draw whatsoever to pay the money.


AMCON over the years had tried diverse ideas to get better the debt from Jimoh Ibrahim but to no avail.

The recovery agency of the Federal Govt of Nigeria, AMCON, had approached the Federal High Court docket (FHC) in Suit No. FHC/ABJ/CS/760/2021 to glance justice, and accordingly obtained an give an explanation for of the trial court docket to engage over the businesses of Jimoh Ibrahim. AMCON further obtained the backing of the trial court docket to appoint a Receiver/Manager to supervise the businesses on behalf of AMCON.


Following the trial court docket’s ruling, Jimoh Ibrahim claimed that he used to be directed by the court docket on March 9, 2022, to launch contempt complaints in opposition to the Govt Management of AMCON, which led AMCON to challenge the said ruling by submitting a Survey of Enchantment sooner than the Court docket of Enchantment on March 14, 2022.


“The topic between Ibrahim and AMCON has been interminable for the reason that mortgage used to be bought by the authorities debt recovery agency throughout the first allotment of Eligible Bank Assets (EBA) purchases from Union Bank in the early days of AMCON.


“AMCON is on the opposite hand not deterred to get better the famous N69.4billion debt owed it by Barrister Ibrahim and his corporations in the passion of the Nigerian economy and the final public in traditional,” Jude Chiedozie Nwauzor, spokesperson of the agency said.

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