A Federal High Court in Lagos will on Tuesday resume hearing on an application filed by businessman Jimoh Ibrahim for the lifting of an interim order that authorised the Asset Management Corporation of Nigeria (AMCON) to take over his properties over an alleged N69.4 billion debt.
Justice Rilwan Aikawa fixed the date on Monday after taking arguments from Ibrahim’s counsel, Chief Niyi Akintola (SAN).
The judge made the seizure order on November 4, and November 18, as AMCON announced that it effectively took over 12 properties belonging to the businessman and his firms.
The properties include the NICON Investment Limited’s building at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Limited’s building at Plot 557, Port-Harcourt Crescent, off Gimbiya Street, Abuja and the building of NICON Lekki Limited also at 5, Customs Street, Lagos.
AMCON’s action is against Ibrahim, NICON Investment Limited and Global Fleet Oil and Gas Limited.
Displeased with the assets seizure, Ibrahim and his firms, through Akintola, approached the court yesterday with a Motion on Notice seeking to discharge the interim seizure order.
They contended that the court made the seizure order in error because AMCON allegedly concealed material facts in its ex parte application leading to the seizure order.
