Google my debt servicing ratio’s 9%, Jimoh Ibrahim challenges AMCON - SALIENT TIMES ONLINE


Sunday, 22 August 2021

Google my debt servicing ratio’s 9%, Jimoh Ibrahim challenges AMCON

By Our Correspondent

The owner of NICON Insurance and Nigeria Re., Barrister Jimoh Ibrahim, has described his debt servicing ratio as the lowest among strong business moguls in the country.


According to Ibrahim in a statement made available to newsmen at the weekend, his current debt servicing ratio is put at nine per cent.


The First Doctoral Candidate of the University of Cambridge Business Management Science said the debt servicing ratio of Nigeria stood at 98 per cent, while USA and UK’s stand at 105 per cent and 85 per cent, respectively.


He, therefore, challenged Asset Management Corporation of Nigeria (AMCON) to name who’s a businessman with a first-class score.


The 54-year-old business mogul said the Google rating of his net asset was over one billion dollars, adding that the data showed asset specificity.


“I collateralized a loan of excellent N26 billion with £130.7 million British pound sterling (at five per cent interest rate now £245million or N178 billion). So, if you buy my loan, where my cash collateral is is the question.


“AMCON should not drag Federal Government’s economic policy into self-interest and I am sure that President Muhammadu Buhari will not support economic injustice because ‘an unjust order is an invitation to anarchy”, he stated.