The Asset Management Corporation of Nigeria has stated that sequel to a High Court order, it remains in control of assets owned by Jimoh Ibrahim.
In a statement by the Head of Corporate Communications at AMCON, Jude Nwauzor on Thursday, Ibrahim’s recent debts to AMCON is nearly N70bn.
The statement said Justice A. R. Mohammed of the Federal High Court Abuja Division, had ordered on Monday that AMCON, NICON Insurance Limited, Nigeria Reinsurance and Ibrahim to maintain the status-quo-ante until 8th of September 2021, when the court would hear all awaiting applications on the issue.
Jude revealed that the issue between Ibrahim and AMCON had been unending as the loan was taken by the government debt recovery agency during the initial stage of Eligible Bank Asset purchases from Union Bank in the start of AMCON.
“AMCON and BPE, on July 21, received approval from the National Insurance Commission to constitute a new board and management of NICON Insurance Limited and Nigeria Re.
“The change was to enhance the smooth running, efficient and effective management of the two firms previously owned by the recalcitrant debtor and businessman.
“The reason for the changes in the board and management of the two insurance firms was sequel to the takeover of the major investor’s interests in the two organisations, and the Bureau for Public Enterprises who worked in partnership with AMCON to bring the much-needed stability in the operation of the organisations,” the statement said.