Alleged N69bn debt: Court fixes Jan. 24 for AMCON’s suit against Jimoh Ibrahim | The Guardian Nigeria News - Nigeria and World News

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A Federal High Court, Abuja on Monday fixed Jan. 24, 2022 for a suit filed by the Asset Management Corporation of Nigeria (AMCON), seeking a stay of execution of orders it granted the businessman, Jimoh Ibrahim, over alleged N69 billion debt.

Justice Okon Abang fixed the date, following AMCON’s appeal filed against the order at the Court of Appeal.

Abang, who adjourned the matter at the instance of the parties, held that the sitting would be to await the decision of the appellant court. NAN observes that Justice Nkeonye Maha of a Federal High Court, Abuja, had, on Jan. 4, granted the AMCON exparte motion. But in a ruling, Justice Abang vacated the main order and the accompanying consequential orders made by Justice Maha on the grounds that AMCON withheld facts from the court and that the orders were made without jurisdiction.

The judge noted that the issue at stake was not about AMCON’s power to appoint a receiver/manager, but whether AMCON deposed to the court in Abuja, before obtaining the Jan. 4 orders, that there was a subsisting order made by the Lagos division on Oct. 2, 2019, staying proceedings.“This is a case of non-disclosure and suppression of material facts. AMCON cannot pretend that the order made on the Oct. 2,, 2019 does not exist, having not appealed.

 

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