(AMCON) seized property belonging to a businessman, Jimoh Ibrahim, for an alleged N69.4 billion debt

The Federal High Court, Abuja, on Monday, 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.

The News Agency of Nigeria (NAN) reports 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.”