Head Topics

N69bn Debt: AMCON Secures Appeal Court Victory Over Jimoh Ibrahim

  • 📰 LeadershipNGA
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 77%

Nigeria Headlines News

Nigeria Latest News,Nigeria Headlines

The Court of Appeal Lagos Division has dismissed an appeal by the Chairman of Global Fleet Group, Barrister Jimoh Ibrahim, challenging the Asset The Court of Appeal Lagos Division has dismissed an appeal by the Chairman of Global Fleet Group, Barrister Jimoh Ibrahim, challenging the Asset Management Corporation of Nigeria (AMCON)’s seizure of his 12 assets and freezing of all his accounts over his alleged N69.4billion debt.

In addition to the takeover of the 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 whom are defendants in the suit No. FHL/L/CL/776/2016. AMCON in November 2020 following a court order seized the properties of the barrister Jimoh Ibrahim over an alleged debt of N69.

Following the execution of the order, NICON Investment Limited, Global Fleet Oil & Gas Limited and Jimoh Ibrahim through their lawyers Chief Adeniyi Akintola SAN filed a motion dated November 19, 2020, seeking to discharge/set aside the order, which was made by Justice R.M. Aikawa of the Federal High Court sitting in Lagos.

As a follow up to that decision, both sets of Applicants filed independent appeals in the Court of Appeal, Lagos division. AMCON was represented in the appeals by Kemi Pinheiro SAN, while the first set of Appellants were represented by Chief Adeniyi Akintola SAN and the second set by Chief Bolaji Ayorinde SAN.

Source: Law Daily Report (lawdailyreport.net)

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

N69.4bn debt: Jimoh Ibrahim loses appeal against AMCONThe appellate court upheld the November 18, 2020 order of Justice Rilwan Aikawa of the Federal High Court, Lagos which authorised AMCON to take over Ibrahim’s assets.
Source: Daily Trust - 🏆 13. / 51 Read more »

Zamfara: We'll appeal court ruling against us - Yari's APC factionThe spokesman of former Governor Abdul Aziz Yari's All Progressives Congress (APC) faction, Hon. Ibrahim Danmadami Birinin Magaji, has said that the APC have killed Nigeria
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Zamfara APC crisis: Yari's faction rejects court judgment, ready for appealThe All Progressives Congress faction in Zamfara State led by former governor Abdulaziz Yari has kicked against the recent judgement by the Federal High Court
Source: MobilePunch - 🏆 8. / 63 Read more »

US wins British court appeal to allow for Assange extraditionThe US government won an appeal Friday against a UK court ruling that had blocked extraditing Julian Assange, paving the way for the WikiLeaks founder
Source: MobilePunch - 🏆 8. / 63 Read more »

5,669 cases, 10,798 motions dispensed in 2021 – Appeal Court president - Punch NewspapersThe most widely read newspaper in Nigeria
Source: MobilePunch - 🏆 8. / 63 Read more »

US wins British court appeal paving way for Assange extradition | The Guardian Nigeria News - Nigeria and World NewsThe US government won an appeal Friday against a UK court ruling that had blocked extraditing Julian Assange, paving the way for the WikiLeaks founder to be sent from Britain.
Source: GuardianNigeria - 🏆 1. / 94 Read more »