Businessman chief promoter of Global Fleet Oil & Gas Limited and NICON Investment Limited in Lagos and Abuja Jimoh Ibrahim has lost 12 choice assets to the Asset Management Corporation of Nigeria (AMCON) over a N69.4 billion debt.

The assets takeover followed an order by Justice R.M. Aikawa of the Federal High Court, Lagos Division.

In addition to the takeover of the listed properties, the court also ordered the freezing of all accounts belonging to Ibrahim and his companies, including Global Fleet Oil & Gas Limited and NICON Investment Limited all of who are defendants in the Suit No. FHL/L/CL/776/2016 presided over by Justice Aikawa on November 4.

The court also granted AMCON possession right over all shares belonging to the lawyer and his two companies that are domiciled in Nigerian Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited (NSL) and NICON Trustees Limited.