MORE NIGERIANS EXPECTED TO FALL INTO POVERTY BY 2027 – WORLD BANK. (PHOTO).

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 More Nigerians expected to fall into poverty by 2027 – World Bank Despite Nigeria’s resources-rich status, more of the county’s citizens are expected to sink into poverty by 2027, the World Bank Group has said. This is contained in the World Bank’s Africa Pulse report released at the ongoing Spring Meetings of the International Monetary Fund (IMF) and the World Bank in Washington DC, the United States. The report noted that sub-Saharan Africa has the highest extreme poverty rate globally, with a large share of the poor concentrated in a few countries. According to the Bretton Woods institution, about 80 percent of the world’s estimated 695 million extreme poor resided in the region in 2024, compared to 8 percent in South Asia, 2 percent in East Asia and the Pacific, 5 percent in the Middle East and North Africa, and 3 percent in Latin America and the Caribbean. “Within Sub-Saharan Africa, half of the 560 million extreme poor in 2024 resided in four countries,” the report highlight...
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N69.4BN DEBT: AMCON SEIZES JIMOH IBRAHIM'S PROPERTIES,FREEZES ACCOUNTS.{PHOTO}.

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N69.4bn debt: AMCON seizes Jimoh Ibrahim’s properties, freezes accounts
Published November 18, 2020
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Eniola Akinkuotu, Abuja
The Asset Management Corporation of Nigeria has taken over 12 assets belonging to Chairman of Global Fleet Group, Jimoh Ibrahim, and frozen all his accounts over his debt which amounts to N69.4bn.
The seizure of the assets is pursuant to an order by Justice R.M. Aikawa of a Federal High Court, in Lagos.
AMCON on Wednesday took effective possession of all 12 properties through its Debt Recovery Agent – Pinheiro Legal Partners, which include the following: the building of NICON Investment Limited at Plot 242, Muhammadu Buhari Way, Central Business District, Abuja; NICON Hotels Limited building at Plot 557, Port-Harcourt Crescent, off Gimbiya Street, Abuja and the building of NICON Lekki Limited also at No. 5, Customs Street, Lagos.
Other properties include: The building of Abuja International Hotels Limited located at No. 3, Hospital Road, Lagos; another Property at Plot 242, Muhammadu Buhari Way, Abuja; the former Allied Bank Building on Mile 2, Oshodi Express Way, Apapa Road, Lagos; Energy House located on No. 94, Awolowo Road, Ikoyi, Lagos; NICON Building at No. 40, Madeira Street, Maitama, Abuja; a Residential Apartment at Road 2, House A14, Victoria Garden City, Lagos; NICON Hotels Building at Plot 3, Road 3, Victoria Garden City, Lagos as well as the NICON Luxury Hotel’s Building, Garki I, FCT, Abuja.
In addition to the takeover of the listed properties, the court also ordered the freezing of all accounts belonging to Ibrahim and his companies including Global Fleet Oil & Gas Limited and NICON Investment Limited all of who are defendants in the suit No. FHL/L/CL/776/2016 presided over by Justice Aikawa on Wednesday November 4, 2020.
The court also granted AMCON possession over all shares belonging to the embattled Ibrahim and his two companies that are domiciled in Nigerian Re-Insurance Company Plc, NICON Insurance Company Plc, Nigeria Stockbrokers Limited and NICON Trustees Limited.
AMCON’s Spokesman, Jude Nwauzor, said all the assets that are listed by the court and scattered around Abuja and Lagos had been successfully taken over by AMCON with the help of court bailiffs and officers and men of the Nigerian police as mandated by the court.
Punch
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