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N6.8 Billion Tax Fraud: Jimoh Ibrahim Arrested By FIRS For Defrauding Federal Government

jimoh ibrahim arrested

Nov 18, 2013 – N6.8 Billion Tax Fraud: Jimoh Ibrahim Arrested FIRS For Defrauding Federal Government

Saharareporters just learned that the Special Enforcement Unit of Federal Inland Revenue Service has arrested shady businessman, Jimoh Ibrahim, over a tax fraud that runs into N6.8 billion.

Sources within the unit told Saharareporters that Mr. Ibrahim was picked up today and is currently under detention at the offices of the agency.

According to one source, “We are investigating a case where Chief Ibrahim, defrauded the federal government to the tune of N6.8 billion.

He is in our custody, we take intend to take a statement from the suspect under caution”, he added.

One of our sources said Mr. Mr. Ibrahim have been evading agents of the unit for some time but disclosed that the eventually caught up with him in his hotel room in NICON Luxury Hotel where he was arrested this afternoon in Abuja.

Mr. Ibrahim emerged into national prominence under former President Olusegun Obasanjo, where he was frequently described as an insurance magnate after a questionable sale of the state owned NICON insurance company to Mr. Ibrahim.

He subsequently became a player in the media industry through the controversial purchase of Newswatch magazine and also as a proprietor of Air Nigeria. An airline closed down last year due to safety concerns and Ibrahim’s inability to meet financial obligations to staff, lessors and maintenance engineers and aircraft parts suppliers.

After Mr. Ibrahim’s purchase of Newswatch, the original directors, including Ray Ekpu, accused Mr. Ibrahim of hijacking Newswatch without meeting the terms of acquisition as a majority stakeholder.

His troubles in aviation sector came to light when one of his top level employee, John Nnorom turned into a whistleblower and disclosed to Saharareporters of the airline’s extensive violation of maintenance standards and financial fraud.

Also, Aersale an aircraft lease company sued him in New York court seeking a huge payment representing Air Nigeria unpaid obligations under the term of the lease.

Mr.Ibrahim is known to have extensive political connection with former President Obasanjo as well top members of the Goodluck Jonathan regime.

[Sahara Reporter]



  1. Ednut O

    November 18, 2013 at 3:32 PM

    Is this the first of it’s case in Nigeria

  2. Wahala

    November 18, 2013 at 3:33 PM

    This man is big time fraudster please investigate him properly
    He refused to pay workers salary now he is into fraud


    November 18, 2013 at 4:13 PM

    Barrister Jimoh Ibrahim is no more the chairman of NICON Insurance Limited. you may wish to confirm through our regulators NAICOM.


    November 18, 2013 at 4:26 PM

    it is well

  5. Danti

    November 18, 2013 at 4:33 PM

    Good one, this dude is loaded with shit. Hope this will sufficiently dab his animalistic tendencies.

  6. Omo Baba

    November 18, 2013 at 5:07 PM

    The chicken has now come home to roost. He collected over N35b as aviation subsidy and closed diown the airline just like that. Its a shame really.

  7. greg

    November 18, 2013 at 7:01 PM

    This is a minor issue, those who are swallowing public money in gulps are allowed to go on unhindered, we leave bigger criminals in this country and start pursuing their errand boys while the truth remains that he might not even be the owner of these companies, me think they should leave the guy alone and tackle the bull by the horn.

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