Mrs Ibrahim was pronounced dead at the scene after the arrival of fire fighters.
Her corpse has been deposited at the morgue.
Madam Ibrahim moved to VGC to be close to her billionaire son after she was released by kidnappers in 2011.
She was kidnapped in Igbotako, Ondo State and released in Sapele, Delta State after her family paid millions of naira as ransom.
Jimoh Ibrahim has confirmed the incident.
A source close to him told us that Ibrahim was “very sad” about the development.
Ibrahim, who is currently in London, was said to have been informed earlier in the day.
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