Long embattled Nigerian businessman, Jimoh Ibrahim was temporarily vindicated in court on Monday when the Asset Management Corporation of Nigeria (AMCON) was ordered to return possession of the companies seized from him over an alleged N50 billion debt.
A Lagos Federal High Court presided over by Justice Abdulazeez Anka discharged an interim injunction giving AMCON the power to confiscate Jimoh’s Ibrahim’s assets over the said debt.
Justice Anka, who sat as a vacation judge, also ordered all the bank accounts of the businessman and that of his companies, which were frozen since June 14, 2016 by Justice Saliu Saidu of the same court, be defreezed.
Justice Saidu had ordered AMCON to take over Jimoh’s assets pending the outcome of the debt recovery suit against him.
The companies involved are NICON Investment Limited and Global Fleet Oil and Gas Limited, Nigeria Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited and NICON Trustees Limited.