Jimoh Ibrahim to appear before police over pension scam

There appears to be no end in sight to the troubles of embattled billionaire and Group Managing Director of Nicon Group of companies, Jimoh Ibrahim, who has now been asked to appear at the office of the Inspector General of Police, on Thursday, over his roles in the pension fraud being investigated by the Nigerian Police, sources familiar with the matter have told PREMIUM TIMES.

Mr. Ibrahim, alongside his airline, Air Nigeria, is already being tried in court for tax evasion and forgery by the Federal Inland Revenue Service (FIRS) which accused the billionaire’s company of evading a N4.86 billion naira tax over five years; and of forging a Tax Clearance Certificate (TCC) to enable it to get the necessary expatriate quota of pilots for his airline.

The recent investigation by the Police, PREMIUM TIMES learnt, is to explain the roles Mr. Ibrahim’ s insurance companies, Nicon Insurance Plc, and Nigerian Reinsurace Corporation played in the N32billion police pension administration fraud  being investigated by the police.

“He will appear before the police today. He has to come and explain the role his companies played in the scam,” a source said.

Mr. Ibrahim, who is a top member of the ruling Peoples Democratic Party, and also a gubernatorial aspirant of the party in the forthcoming governorship elections in Ondo State, is a major financier of the party.

He benefitted immensely from the privatisation programme of the Federal Government under President Olusegun Obasanjo when he acquired, among others, the defunct Sofitel Hotel, Nicon Insurance, among others, from the Federal Government.

Though Mr. Ibrahim has explained that he has turned the companies he acquired into profitable ventures while creating more jobs, he has been widely criticized by many over the ways he acquired and managed the companies.


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