JUST IN: Billionaire businessman, Jimoh Ibrahim loses bid to recover seized assets
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Nigeria, Feb. 16 -- A Lagos Division of the Federal High Court has declined an application to vacate an interim order used by the Asset Management Corporation of Nigeria (AMCON) to seize properties belonging to billionaire businessman, Jimoh Ibrahim, for an alleged N69.4 billion debt.
Rilwan Aikawa, the judge, held that the order, which he granted in November last year, subsists.
Mr Ibrahim, a lawyer, and his companies, NICON Investment Ltd and Global Fleet Oil and Gas Ltd, had urged the court to set aside the order for "non-disclosure and misrepresentation of material facts".
They further urged the court "to order AMCON to pay N50 billion indemnity for its alleged failure to conduct due diligence before obtaining the said order and fo...
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