AMCON Replies NICON Investment, Says Hotel for Sale

By Olawale Ajimotokan

Asset Management Corporation of Nigeria (AMCON) has debunked what it described as the false advertorial, which was published in some leading newspapers on Monday, which claimed that NICON is not for sale.

In a statement issued yesterday, the Receivership/Manager for NICON Investment Limited, Global Fleet Oil Gas Limited, DIG Taiwo Lakanu (rtd), urged the public to disregard this misleading advertorial because NICON Hotel is for sale.

According to him, the hotel is under a Receivership/Manager appointed by AMCON following a protracted court battle between AMCON (Plaintiff/Applicant) and the trio of NICON Investment Limited, Global Fleet Oil & Gas Limited and Mr. Jimoh Ibrahim all of whom are defendants in suit No: FHC/L/CS/776/2016 for the recovery of N69.4billion debt owed AMCON.

He recalled that Justice R.M. Aikawa of the Federal High Court, Lagos Division who presided over the matter on November 4, 2020, ordered AMCON to take possession of the following properties belonging to NICON Investment Limited, Global Fleet Oil & Gas Limited

and Mr. Jimoh Ibrahim together with appurtenances thereto and all moveable properties contained therein.

Lakanu listed the properties, which AMCON was ordered to take over to include: NICON Investment Limited’s building at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Limited’s building, Plot 557, Port-Harcourt Crescent, off Gimbiya Street, Abuja; NICON Lekki Limited’s building, No. 5, Customs Street, Lagos; Property at No. 25B and 25C, Kayode Abraham Street, Victoria Island, Lagos; Abuja

International Hotels Limited’s building – No. 3, Hospital Road, Lagos as well as NICON building No. 40, Madeira Street, Maitama, Abuja and a host of other assets.

He noted that it was also on record that attempts made by Jimoh Ibrahim and others to set aside the order of the court, which gave AMCON possessory order over the assets of the three defendants in the matter was summarily dismissed as Justice R.M. Aikawa

made by the court on November 4, 2020, subsists.

“Therefore, AMCON reserves the right to sell the assets as provided in the AMCON Act as amended,” Lakanu added.