N70billion AMCON Debt: Court Stops Jimoh Ibrahim, NICON Insurance from Forum Shopping

The last may not have been heard about the high-profile debt case involving businessman Barrister Jimoh Ibrahim and his companies and the Asset Management Corporation of Nigeria (AMCON) as a Federal High Court Lagos Division on Thursday cautioned NICON Insurance Limited against what it called ‘forum shopping.’  Recall that AMCON in November 2020 following a court order seized the properties of the barrister Jimoh Ibrahim over an alleged debt of nearly N70billion, which was sold to AMCON by Union Bank as a non-performing loan in the early days of AMCON.…

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AMCON vs Jimoh Ibrahim & others: AMCON still in charge 

…As case adjourned till September 8 The Asset Management Corporation of Nigeria (AMCON), has explained that irrespective of the false narrative spreading on social media, Hon. Justice A. R. Mohammed of Federal High Court Abuja Division on Monday ordered the Corporation; NICON Insurance Limited, Nigeria Reinsurance (Nigeria Re) and Barrister Jimoh Ibrahim to maintain the status-quo-ante until September 8, 2021, when the court will hear all pending applications in the matter.  Jimoh Ibrahim’s current indebtedness to AMCON stands at nearly N70billion. The matter between Barrister Jimoh Ibrahim and AMCON has…

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N69.4bn debt: Possessory Order on Jimoh Ibrahim’s seized assets stays- AMCON

Justice Okon Abang of the Federal High Court, Abuja who presided over the case between the Asset Management Corporation of Nigeria (AMCON) and Barrister Jimoh Ibrahim on Monday February 22, 2021 reviewed the order of January 4, 2021 without prejudice to the power of AMCON to appoint a Receiver. In the same vein, Justice Abang did not challenge the powers of AMCON under Section 48 of the AMCON Act as amended to appoint a Receiver to manage the assets of Jimoh Ibrahim who is also the Chief promoter of Global…

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