November 28, 2020

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Ibrahim: I’m not indebted to Union Bank

2 min read

By Collins Nweze

Billionaire businessman and founder, Global Fleet Oil & Gas Limited, Jimoh Ibrahim, has denied owing Union Bank of Nigeria Plc N69.4 billion. Ibrahim is insisting that the lender is actually indebted to his group of companies to the tune of N140 billion.

In an emailed statement released yesterday, he said his group of companies also has £220 million deposit with Union Bank adding that the matter has been on since 2016.

The businessman further said that a similar order was obtained in 2016 which he got the court to discharge.

Ibrahim said AMCON had filed an ex parte in March and wondered how that order was obtained this month, “eight clear months after when an exparte motion should be heard speedily in a matter of hours or days”.

According to Ibrahim, the order granting AMCON power to take over the assets was not properly obtained.

Read Also; AMCON seizes hotel’s assets over N600m debt

He said AMCON was pursuing nothing because some of the assets linked to him were not his.

Ibrahim added that AMCON got an interim order on November 5 and that an interim order lasts for 14 days, meaning that by tomorrow, the order will lapse.

Ibrahim also made available a 2016 suit No: FHC/L/CS/776/16 at the Federal High Court, Lagos between the Asset Management Corporation of Nigeria (Plaintiff) and NICON Investment Limited, Global Fleet Oil And Gas and Barrister Jimoh Ibrahim (Defendants).

Yusuf Ali (SAN), with K.K Elena (SAN) Prof What Egbewale, Dr. M.T. Adekilekun, Oluyede Oyediran Esq, Council for the plaintiff had informed the court that the nature of the dispute between the parties is commercial in nature and parties already have had agreement to nominate a firm of Chartered Accountant to conduct a forensic auditing on the accounts and meets at Union Bank headquarters.

Adeniji Akintola (SAN) with Dr. Jimoh Ibrahim, Chijioke Ndubisi, Olaide Sadiq, O.O Samuel, J.O. Oriloye, Isa Adedokun Esq and Rotayo Ogundana Esq Counsel for the defendants confirming the position and applied that the ex-parte order of 4th day of June 2016 be discharged.

The position was also confirmed by Chief Bolaji Ayorinde (SAN) with Ade Adesina (SAN), Adebisi Iyaniwura, Adewole Adesina, Adedoyin Ologbenla, Asuzu Evaristus, Kayode Adaramewa, Dr. Damola Aderemi and Bolaga Ajayi, counsel to the applicant also confirming the position.