By Editor

•Re-files appeal against alleged N69.4bn debt The Court of Appeal, Lagos Division, last Friday struck out an appeal filed by businessman, Jimoh Ibrahim, and his companies, challenging the Asset Management Corporation of Nigeria’s seizure of their assets and freezing of their bank accounts over alleged N69.4bn debt.

This is contrary to some earlier reports that the Court of Appeal, Lagos Division, dismissed two appeals filed by the Chairman of Global Fleet Group, Ibrahim, challenging AMCON’s seizure of his assets and freezing of his bank accounts.

The appellate court, in a December 10, 2021 verdict, upheld the November 4, 2020 order of Justice Rilwan Aikawa of the Federal High Court, Lagos which authorised AMCON to take over Ibrahim’s assets and those of his firms – Nicon Investment Limited and Global Fleet Oil and Gas Limited.

The Court of Appeal, in a lead ruling by Justice Obande Ogbuinya, which was consented to by Justices Abubakar Umar and A.I. Banjoko, struck out the appeal filed by Ibrahim and his firms “for being incompetent.”

AMCON had on November 4, 2020, through its counsel, Dr Kemi Pinheiro (SAN), obtained an ex parte order against Ibrahim and the firms, freezing their accounts in various banks as well as attaching various properties of the companies.

Following the seizure order made by Justice Rilwan Aikawa on November 4, AMCON, on November 8, 2020, announced that it had taken over 12 properties belonging to Ibrahim and his firms.

The properties included the NICON Investment Limited building Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Limited building at Plot 557, Port-Harcourt Crescent, off Gimbiya Street, Abuja and the building of NICON Lekki Limited also at No. 5, Customs Street, Lagos.

However, the appellants were given 14 days to obtain Leave to Appeal, thus, an approval to re-file the appeal.

As a result, Jimoh Ibrahim and his Global Fleet Group have filed a fresh notice of appeal.

In the Notice of Appeal filed, dated December 13, 2021, and filed on December 14, 2021, the appellants complained about the entire decisions of the lower court.

The appeal is based on 11 grounds upon which the appellants are asking the Court of Appeal to set aside the decision of Justice Aikawa for erring in law when it made an order directing AMCON to take over the appellants’ assets and freezing of their bank accounts.