Nigeria: Ibrahim's Fight to Save Multi-Billion Naira Estates

Lagos — At the moment, the vibrant multibillionaire businessman, Jimoh Ibrahim, seems to be in trouble water. The distress is as a result of Union Bank of Nigeria's effort to cut him out of all his endeavours following the bank's order of interlocutory injunction at the Federal High Court in Lagos to restrain NICON Investment Limited, Global Fleet Oil & Gas and their promoter, Ibrahim from parading himself as owner of the businesses until substantive suit filed in regard of the N22.5billion debt owed it is determined.

The court had two weeks ago ordered Global Fleet and Ibrahim, to stop dealing with its 51 per cent shares or any part thereof held in Nigeria Reinsurance Corporation Plc and NICON Insurance Limited.

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