A Lagos Division of the Federal High Court has declined an application to vacate an interim order used by the Asset Management Corporation of Nigeria (AMCON) to seize properties belonging to billionaire businessman, Jimoh Ibrahim, for an alleged N69.4 billion debt.
Ibrahim, NICON Investment Ltd and Global Fleet Oil and Gas Ltd, had contended that the court granted the order in error, alleging that AMCON concealed material facts in its ex parte application leading to the seizure order.