Tag: AMCON
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AMCON releases names of Nigeria’s non-paying debtors; Ubah, Jimoh Ibrahim, Babalakin, others top list
The Asset Management Corporation of Nigeria (AMCON) on Monday released the list of debtors it claimed have failed to negotiate successfully with the corporation. The list, which contains about 105 names, came months after the asset management company said it would need the support of other relevant agencies to ensure that obligors pay up their…
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Senate suspends CBN deputy gov, AMCON chair’s confirmation
The Senate on Tuesday proceeded on an eight-week annual recess, suspending the confirmation of Mr Folasodun Adebisi Shonubi as Deputy Governor of the Central Bank of Nigeria. Also listed on the Order Paper of Tuesday was the confirmation of the appointment of Dr Muiz Adeyemi Banire as Chairman of the Board of Assets Management Corporation…
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Buhari appoints Banire as AMCON chairman
President Muhammadu Buhari has appointed Muiz Banire, a senior advocate of Nigeria (SAN), as chairman of the governing board of the Assets Management Corporation of Nigeria (AMCON). Banire is the former legal adviser of the ruling All Progressives Congress (APC). On Tuesday, Senate President Bukola Saraki read a letter from Buhari, seeking the confirmation of…
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N5.4tn debts: AMCON threatens to seize, sell assets of defaulters
The Asset Management Corporation of Nigeria (AMCON) has said that there will be no more room for negotiation with debtors as it is now set for a new stage of complete asset takeover. The Managing Director and Chief Executive Officer, AMCON, Mr Ahmed Kuru, who stated this in an interview with newsmen in Abuja on…
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AMCON takes over Sen Oduah’s companies, other assets over unpaid debts
The Asset Management Corporation of Nigeria (AMCON) has taken over Sea Petroleum Oil & Gas Ltd. and other assets belonging to Sen. Stella Oduah-Ogiemwonyi over an unpaid debt of about N20 billion. AMCON said the takeover followed an injunction granted by Justice M.S. Hassan of the Federal High Court, Lagos against Sea Petroleum Oil &…
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Unpaid Debt: AMCON takes over Sen. Oduah’s assets
The Asset Management Corporation of Nigeria (AMCON) has taken over Sea Petroleum Oil & Gas Ltd. and other assets belonging to Sen. Stella Oduah-Ogiemwonyi over an unpaid debt of about N20 billion. AMCON said the takeover followed an injunction granted by Justice M.S. Hassan of the Federal High Court, Lagos against Sea Petroleum Oil &…
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Access Bank gets commendation for saving Etisalat
Shareholders of Access Bank Plc have commended the bank and other members of the consortium of banks that provided the $1.2bn loan that saved Etisalat (now 9mobile) from collapsing. The shareholders stated this at the bank’s 29th Annual General Meeting (AGM) in Lagos on Wednesday. Mr Bayo Adeleke, immediate past Secretary, the Independent Shareholders Association…
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N1.bn debt: AMCON takes ownership of Daily Times Plc
Asset Management Corporation of Nigeria yesterday intensified its loan recovery proces as it took ownership of one of Nigeria’s oldest newspaper, Daily Times Nigeria Limited. AMCON, through Mr. Gbenga Fakoya, took over Daily Times over a debt that is in excess of N1.2 billion which it bought from the defunct Afribank Plc. Recall that the…
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AMCON seeks Appeal Court’s intervention to recover N5trn debt from loan defaulters
The Asset Management Corporation of Nigeria (AMCON) is seeking the collaboration of the Justices of the Appeal Court to recover about N5trillion owed the corporation by loan defaulters nationwide. The Managing Director and Chief Executive Officer (CEO) of the Corporation, Ahmed Kuru explained that despite the overwhelming powers granted AMCON by the law setting it…
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AMCON, EFCC collaborate on recovery of N4.6bn debt nationwide
The Asset Management Corporation of Nigeria (AMCON) says it is collaborating with the Economic and Financial Crimes Commission (EFCC) as strategy to recover N4.6 billion from debtors across the country. The corporation said this in a statement issued after a meeting with the management of the EFCC on Thursday in Lagos. It said the decision…