Connect with us
X
Categories:

News

Jimoh Ibrahim: Court Vacates Order Against Assets Over Alleged N69.4bn Debt

All Naija Entertainment

Published

on

JImoh Ibrahim

JImoh Ibrahim

The Federal High Court, Abuja, on Monday, February 22, set aside the interim order through which the Asset Management Corporation of Nigeria (AMCON) seized property belonging to a businessman, Jimoh Ibrahim, for an alleged N69.4 billion debt.

Justice Okon Abang, in a ruling, also vacated all consequential orders earlier made by the court on Jan. 4 but differently constituted by Justice Rilwan Aikawa of a Federal High Court, Lagos.

Download & Install The New ANE Android App To Your Device
Hello!! Have you heard about the deadly virus called Coronavirus? No? See What It Is & How To Prevent It Here. Also Stay Connected & Get Latest Updates On Coronavirus Here. Please be safe! We LOVE You.


Ripples Nigeria reported that a Federal High Court, Lagos, had on, Feb. 17, declined to vacate an interim order through which AMCON seized property belonging to Ibrahim.

Ibrahim, NICON Investment Ltd, and Global Fleet Oil and Gas Ltd had prayed the court to set aside the order for “non-disclosure and misrepresentation of material facts.”

They further prayed the court to order AMCON to pay N50 billion indemnity for alleged failure to conduct due diligence before obtaining the said order and for misrepresentation and concealment of fact.

But Aikawa, in a nearly two-hour ruling, upheld the argument of AMCON’s counsel, Kemi Pinheiro, SAN, which insisted that AMCON made “full and substantial disclosure of all material facts” at the time of obtaining the orders on Nov. 4, 2020.


Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment
Reach us on WhatsApp via: +2348104471989

Click to comment
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Don’t Miss!

Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.




Latest Exchange Rate

Donate To ANE!


Mind buying a coffee to support us here at All Naija Entertainment?. Yes?

Donate Now
Baby Walkers
Lifestyle3 weeks ago

Buying Guide On Baby Walkers for 2021

Burna Boy
Entertainment2 months ago

2021 Grammy Awards: Burna Boy Promises An Unforgettable Performance Experience

Lionel Messi Barcelona Sevilla Copa Del Rey Semi Final
Sports2 months ago

Copa del Rey: Barcelona conquer Sevilla despite 2-0 down!!

PANDORA'S BOX Story
Stories2 months ago

[STORY] PANDORA’S BOX (Episode 06)

BITCOiN
Technology2 months ago

Best Time to Sell Your Bitcoin [EASY GUIDE]

BITCOiN
Technology2 months ago

Bitcoin Crashes, Loses $10,000 In Value

News2 months ago

30 Million Nigerians Will Be On Drugs By 2050 – NDLEA

Cristiano Ronaldo
Sports2 months ago

Serie A: Ronaldo’s Brace Set Juventus Free From Crotone

News2 months ago

Fulani Herdsmen Deserve Better Treatment From Nigerians – Bauchi Former Gov

Justin Trudeau
News2 months ago

Insecurity: Canada Issue Warning to Citizens Against Traveling to Nigeria

NCDC Chairman Chikwe Ihekweazu
News2 months ago

Nigeria Govt Confirms Discovery Of New Covid-19 Variant, 15 Others

Akwa Ibom Best Hotels ANE Travels
Lifestyle2 months ago

How To Detect Hidden Camera in a Hotel Room!!

WhatsApp
Technology2 months ago

WhatsApp To Deactivate Messages For Users Who Reject New Terms!!

Nissi
Entertainment2 months ago

Afro-Jazz/funk Singer, Nissi’s ‘Move X 2’ Is A Rare Delightful Visual

Kim Kardashian
Entertainment2 months ago

Kim Kardashian Officially Files For Divorce From Kanye West!!

Kanye West
Entertainment2 months ago

Kanye West Thinks Kim Kardashian Is Divorcing Him Because Of Presidential Run

Banky W and Adesua Pregnant
Entertainment2 months ago

Banky W, Adesua Etomi Welcome Baby Boy!!

JImoh Ibrahim
News2 months ago

Jimoh Ibrahim: Court Vacates Order Against Assets Over Alleged N69.4bn Debt

Business2 months ago

Nigeria To Supply Electricity To Togo From Calabar Power Plant

Victor Osimhen
Sports2 months ago

Napoli Confirm Victor Osimhen Head Injury, Say No ‘conclusive Result’ After Tests

ANE Billboard Hots!



Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.





Copyright © All Naija Entertainment.

css.php