Tag: AMCON
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CBN sells Polaris Bank to new investor, Strategic Capital Investment
The Central Bank of Nigeria (CBN) and the has announced the sale of Polaris Bank to a new core investor, Strategic Capital Investment Ltd. (SCIL). A statement signed by Mr Osita Nwanisobi, Director, Corporate Communications and posted on CBN website on Thursday, said the sale was
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Alleged N69.4bn Debt: Court dismisses Jimoh Ibrahim, NICON’s appeals against AMCON
The Court of Appeal, Lagos Division
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AMCON submits list of 1,000 debtors ‘holding Nigeria to ransom’to National Assembly
In a spirited move to recover debts owed it, the Asset Management Corporation of Nigeria (AMCON) on Friday submitted a list of its top 1,000 debtors to the National Assembly. The names were submitted to the House of Representatives Committee on Banking and Currency at the just concluded retreat of the committee in Lagos. This…
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4 banks complied with order on freezing Benue govt accounts – AMCON tells court
Four commercial banks in the country have complied with the order of a Federal Hig Court, Abuja, directing the freezing of all bank accounts of Benue Government. The four banks include First City Monument Bank Plc, Standard Charterred Bank Ngeria, Suntrust Bank Nigeria Ltd, and Wema Bank Plc. Counsel to the Asset Management Corporation of…
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AMCON takes over former governor’s mansion over ₦5 billion debt
The Asset Management Corporation of Nigeria (AMCON) on Wednesday said it took over the palatial mansion of Abdulfatah Ahmed, the former two-time governor of Kwara State, over an alleged staggering indebtedness of nearly ₦5 billion. AMCON said in a statement Wednesday that the action followed the order of Justice A.M. Liman of the Federal High…
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Just in: AMCON speaks on Dangote refinery debt
The Assets Management Corporation of Nigeria (AMCON) has trashed viral reports that it is about to seize the Dangote Refinery over an alleged $7 billion debts owed to Nigerian banks. Several online news platforms orchestrated a report that the 650,000 barrels a day Dangote refinery, which is yet to start production. is already prostate with…
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Police raid MMS news office, harass workers over report on Dangote refinery’s ‘indebtedness’
Four armed policemen on Tuesday raided the headquarters of Kings Communications Limited, publisher of Money Management Series (MMS) Plus newspaper in Lagos. According to reports, the incident came a few days after the newspaper turned down Dangote Group’s demand to pull down a story about a possible take over of the Dangote Refinery by the…
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AMCON takes over Buhari’s properties for N600m loan default
The Asset Management Corporation of Nigeria (AMCON) have taken over some assets belonging to senator representing Oyo North Senatorial district on the platform of the ruling All Progressives Congress (APC), Abdulfatai Buhari. The agency accused the lawmaker of unwillingness to defray a N600 million loan. The corporation said it took the action after securing a…
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Debtors in fresh trouble as Senate passes AMCON amendment bill
The Senate has passed the Asset Management Corporation of Nigeria (AMCON) Amendment Bill. This followed the adoption of the report of Senate Committee on Banking, Insurance and Other Financial Institutions at plenary on Wednesday. Presenting the report, Sen. Uba Sani, Chairman of the Committee, said the committee engaged stakeholders including AMCON, Ministries of Finance, Budget…