Jimoh Ibrahim, AMCON differ on court order

Businessman and lawyer,Jimoh Ibrahim, and the Asset Management Corporation of Nigeria (AMCON) have disagreed on the alleged sack of the agency’s receiver-manager, Taiwo Lakanu.

AMCON had appointed Lakanu as receiver-manager to NICON Investment Limited, Global Fleet Oil and Gas Limited and others in a bid to recover an alleged debt owed by Ibrahim and his companies.

But, Ibrahim, in an advertorial on Monday, insisted that the court had sacked Lakanu as the receiver-manager.

He said Justice Okon Abang of the Federal High Court in Abuja made the order sacking Lakanu on February 22 in a suit numbered FHC/ABJ/CS/001/2021.

AMCOM, NICON, Global Fleet and Lakanu are the claimants in the suit.

Ibrahim, Nicon Insurance Ltd, Nigeria Re-Insurance Hotels Ltd, Abuja International Hotels Ltd and Nicon Hotels Ltd are the defendants.

Ruling on a motion by Ibrahim and Nicon Insurance, the judge held: “The first and second applicants’ application dated 11/1/2021 deserves to succeed though in part…

“I hereby make the following orders – that the order made by this court differently constituted restraining the defendants, their directors, shareholders, officers, employees, agents or privies from interfering with or obstructing Taiwo Lakanu, the fourth plaintiff, in the course of exercising his powers, performing his duties as receiver/manager whether by himself and/or other persons employed by him over the second and third plaintiffs’ assets contained in the schedule to the application ex-parte pending the determination of the originating summons is hereby set aside and accordingly vacated…”

But, AMCON, in an advertorial, claimed the court did not sack or restrain Lakanu as the receiver-manager.

The agency said it duly obtained an order in a suit numbered FHC/L/CS/776/2016 against NICON Investment, Global Fleet and Ibrahim to take interim possession of properties belonging to them.

AMCON said based on the order, it exercised its special powers under Section 48 of the AMCON Act, 2019 (as amended) to appoint Lakanu to take over the assets and manage the affairs of the debtor companies.

The agency said Justice Abang rather recognised Lakanu as exercising his powers.

“All the orders of court made in FHC/ABJ/CS/001/2021 have been appealed against by AMCON in Appeal No: CA/ABJ/CV/377/2021 between AMCON Vs. Jimoh Ibrahim & four others, with a motion for stay of execution of the court order made in Suit No: FHC/ABJ/CS/001/2021.

“In view of the above, Nicon Investment Limited, Global Fleet Oil & Gas Ltd and Barrister Jimoh Ibrahim cannot take possession of the Res (subject-matter of the suit) through the back door,” AMCON said.