My debt servicing ratio lowest ever at 9% ― Jimoh Ibrahim

•cautions AMCON

Billionaire businessman, Barr. Jimoh Ibrahim, the owner of NICON Insurance and Nigeria Re., has described his debt servicing ratio, put at 9per cent, as the lowest among strong business moguls in the country.
Ibrahim made this disclosure in a statement made available to newsmen on Saturday, noting that the debt servicing ratio of Nigeria stands at 98 per cent, while those of United States (US) and United Kingdom (UK) stood at 105 per cent and 85 per cent respectively.
The First Doctoral Candidate of the University of Cambridge Business Management Science, therefore, challenged Asset Management Corporation Of Nigeria (AMCON) to name who is considered a businessman with a first-class score.
According to him, the Google rating of his net asset is over $1billion, declaring that the data showed excellent asset specificity.
He said: “I collateralized a loan of N26 billion with £130.7 million British pound sterling (at 5% interest rate, now £245m or N178 billion). So, if you buy my loan, where is my cash collateral is the question?” he said.
The 54-year-old business mogul cautioned AMCON not to drag Federal Government’s economic policy into self-interest, saying he was sure that President Muhammadu Buhari would not support economic injustice as, according to him, “an unjust order is an invitation to Anarchy.”
“AMCON should not drag Federal Government’s economic policy into self-interest and I am sure that President Buhari will not support economic injustice because ‘an unjust order is an invitation to Anarchy,”  he said.


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