By Udeme Akpan

As the Asset Management Company of Nigeria, AMCON freezes the bank accounts of a controversial businessman, Jimoh Ibrahim, and seized some assets over his N69 billion debts, Ladico Industrial Company Limited and International Energy Services Limited have declared that the building, popularly known as Energy House, located at 90, Awolowo Road, Ikoyi, Lagos, does not belong to him.

In a statement obtained by Vanguard, AMCON, which attributed the action to a recent court order given by Justice R.M. Aikawa of the Federal High Court, Lagos Division, had stated:    “In compliance with the enforcement order of the court, AMCON on Wednesday, November 18, 2020, took effective possession of all twelve properties through its Debt Recovery Agent – Pinheiro Legal Partners, which include the following: the building of NICON Investment Limited at 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.

It had also added: “The rest include the building of Abuja International Hotels Limited located at No. 3, Hospital Road, Lagos; another Property at Plot 242, Muhammadu Buhari Way, Abuja; the former Allied Bank Building on Mile 2, Oshodi Express Way, Apapa Road, Lagos; Energy House located on No. 94, Awolowo Road, Ikoyi, Lagos; NICON Building at No. 40, Madeira Street, Maitama, Abuja; a Residential Apartment at Road 2, House A14, Victoria Garden City, Lagos; NICON Hotels Building at Plot 3, Road 3, Victoria Garden City, Lagos as well as the NICON Luxury Hotel’s Building, Garki I, FCT, Abuja.”

However, in a statement obtained by Vanguard over the weekend, Seyi Ayandele, Company Secretary, Ladico Industrial Company Limited and International Energy Services Limited, stated: “Our attention has been drawn to publications in several national newspapers, stating that the Asset Management Company of Nigeria (AMCON) on 18th November, 2020 lawfully took possession of an office building known as Energy House, 94, Awolowo Road, Ikoyi, Lagos belonging to Ladico Industrial Company Limited, an affiliate of International Energy Services Limited pursuant to an Order of the Federal High Court dated 4th November, 2020 issued Suit No: FHC/L/CS/776/2016 in the matter between AMCON, CLAIMANT versus NICON Investment Limited, Global Fleet Oil and Gas Limited, DEFENDANTS, Barrister Jimoh Ibrahim.

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“By this statement, we wish to inform our clients, partners and the general public that the building known as Energy House, 94, Awolowo Road, Ikoyi, Lagos does not belong to NICON Investment Limited, nor Barrister Jimoh Ibrahim nor any person or entity connected to him or to the lawsuit in question.”

He stressed that, “Ladico Industrial Company Limited and International Energy Services Limited are not in any way indebted to AMCON. The Court Order dated 4th November, 2020 obtained by AMCON was based on a misrepresentation and misstatement of facts by which the Court was misled to issue the said Order. AMCON had in fact earlier obtained an Order of the Court on 8th June, 2016 alleging that the building known as Energy House, 94, Awolowo Road, Ikoyi, Lagos belonged to the Defendants in the lawsuit and granting AMCON interim possession of the building.”

He also added: “Upon our application to the Court pointing out AMCON’s gross error, the Court by an Order dated 11th July 2016 vacated its earlier Order of 8th June 2016. The Order dated 4th November 2020 obtained by AMCON is in direct contravention of the subsisting order of the Court dated 11th July 2016 in the same lawsuit. We, therefore, urge our clients, partners, and the general public to kindly disregard the said news publications.”

Vanguard News Nigeria


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