Tag: AMCON
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Muiz Banire out as Buhari appoints Adamu new AMCON chairman
President Muhammadu Buhari has sacked Muiz Banire as the Chairman of the Governing Board of the Assets Management Corporation of Nigeria, appointing Edward Lametek Adamu as new chairman of the Corporation. This was contained in a letter read on the floor of the Senate by the Senate President, Senator Ahmad Lawan. The letter, dated December…
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Convert Arik to National Carrier, AMCON MD urges Nigerian government
The Managing Director and Chief Executive Officer of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has called on the Nigerian government to convert Arik air into a national carrier. Mr Kuru said his agency has retrieved Arik from the brink of collapse and restructured and positioned it on the path of growth and…
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Osinbajo inaugurates inter-agency committee to recover N5trillion AMCON debt
The Federal Government has inaugurated an inter-agency committee to speedily resolve the challenges in recovering over N5 trillion Asset Management Corporation of Nigeria(AMCON) debts. Vice President Yemi Osinbajo, who inaugurated the committee at the Presidential Villa, Abuja, tasked its members to deploy their expertise in the assignment. The committee is headed by the Chairman, Independent…
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Osinbajo inaugurates committee to recover N5tr AMCON debts
Vice President Yemi Osinbajo on Tuesday inaugurated an inter-agency committee to recover the N5 trillion debts owed the Asset Management Corporation of Nigeria (AMCON). A statement by the Senior Special Assistant on Media and Publicity to the Vice President, Laolu Akande, disclosed this on Tuesday. The statement said that members of the committee include heads…
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Osinbajo directs ‘next steps’ in recovery of N5trn AMCON debts
The Vice-President, Prof. Yemi Osinbajo, has directed that new approaches to be adopted in the recovery of debts owed the Assets Management Corporation of Nigeria (AMCON). Osinbajo’s spokeman, Mr Laolu Akande, in a statement on Tuesday in Abuja said the directive was part of the Federal Government’s renewed effort to ensure the effective recovery of…
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Photo: AMCON takes possession of luxury homes in Lekki over N12.9b debt
The Asset Management Corporation of Nigeria (AMCON) on Tuesday took over several multi-billion naira properties in Victory Park Estate, Lekki, Lagos, following a N12,966,510,191 judgment debt it won at the Court of Appeal in Lagos. The properties included assets of Knight Rook Limited situated within Victory Park Estate, among other assets. AMCON’s move followed the…
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N5.4tr debt: AMCON seeks alternative recovery plan
The Asset Management Corporation of Nigeria (AMCON) is seeking better ways to recover the over N5 trillion debts. The corporation will be exploring the Alternative Dispute Resolution (ADR) option that involves out-of-court settlement. About 80 per cent of the debts is owed by 350 individuals. Leading jurists have also urged AMCON to embrace the opportunities…
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AMCON takes over Micmerah International over N1bn debt
The business and assets of Micmerah International Agency Limited have been taken over by the Asset Management Corporation of Nigeria (AMCON). The company was seized by AMCON over its alleged inability to pay a debt worth N1 billion it owes, a statement from AMCON stated. AMCOM took over operations of the Onitsha, Anambra State-based firm…
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Kanu Nwankwo broken as AMCON allegedly takeover his hotel, medals
Former Super Eagles’ captain, Nwankwo Kanu is currently a sad man. Yesterday in Victoria Island, Lagos, the former Arsenal of England striker almost broke down in tears following the realisation that some people are bent on taking over his hotel. The hotel, Hardley Apartment, is subject of a court case over an alleged unrepaid bank…
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AMCON set to release another debtors’ list
Indications emerged on Tuesday that the Asset Management Corporation of Nigeria (AMCON) is preparing to release another list of debtors. The corporation’s Head of Corporate Communications Department, Jude Nwauzo confirmed the development. According to information obtained, the corporation has decided to expose the debtors following their failure to meet their debt obligations after several peaceful…