Tag Archives: AMCON

Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has said the sale of Keystone Bank to new investors at N41 billion helped to boost the corporation’s performance in the last financial year. He said AMCON had acquired 12,537 Non-Performing Loans (NPLs) worth N1.7 trillion from 22 financial institutions, following the 2009 banking crisis. “Gross earnings also …

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The Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, has called on Nigerians to join forces with the present leadership in the country especially now that the government is paying improved attention to human capital development, science & technology as a way of moving the Nigerian economy away from a resource-based economy to knowledge-based …

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Justice M.S. Hassan of the Federal High Court Lagos Division has granted an injunction against Sea Petroleum Oil & Gas Limited, whose chief promoter is former Minister of Aviation, Senator Princess Stella Oduah-Ogiemwonyi on the application of Asset Management Corporation of Nigeria (AMCON). Princess Oduah-Ogiemwonyi, a serving member of the 8th Senate of the Federal Republic of Nigeria has been having a running battle with …

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Hon. Justice Saliu Saidu of the Federal High Court Lagos Division has granted an injunction against Osigwe Foods and Agro Industrial Company Limited, owned by Chief Anselm Kayode Mohammed on the application of Asset Management Corporation of Nigeria (AMCON). The obligor owes AMCON nearly N5billion. AMCON purchased the huge debt during the first, second and third phases of purchase of …

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The Asset Management Corporation of Nigeria (AMCON) has disowns media stories on Grant Properties Limited. According to a statement from the corporate head of corporate communication Jude Nwauzor, the attention of Asset Management Corporation of Nigeria (AMCON) has been drawn to some sponsored and inaccurate stories on some online publications regarding a pending debt-related issue between one Mr. Olajide Awosedo, …

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…As sacked workers press for severance pay The receiver/manager appointed by the Assets Management Corporation of Nigeria (AMCON) to turn around the fortunes of distressed Aero Contractors Airline appears to have met brick wall in his effort to revive the firm as its functional aircraft fleet dropped further from three to two over the weekend. This is coming as agitation …

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The Deputy Governor of Yobe State, His Excellency, Engineer Abubakar Aliyu has said a lot still needs to be done in the areas of rehabilitation, reconstruction, resettlement and reintegration of thousands of Internally Displaced Persons (IDPs) in Yobe and other northeastern states that were ravaged by the activities of the Boko Haram activities in the northeast. Aliyu, who spoke in …

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Asset Management Corporation of Nigeria (AMCON) yesterday in Biu Local Government Area of Borno State commenced the second tranche of the distribution of educational materials for children; foods and other support items for families of Internally Displaced Persons (IDPs). The programme is part of ongoing AMCON intervention exercise to three northeastern state that were worst hit by the activities of …

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Former Nigerian President, Chief Olusegun Obasanjo, GCFR, at the weekend presented Asset Management Corporation of Nigeria (AMCON) with the Special Recognition and Commendation Award for Excellence in Banking, at the BusinessDay Banking Awards 2017, which held in Lagos. The management of Businessday newspapers, led by the Publisher, Mr. Frank Aigbogun said that agencies, regulators, microfinance banks, deposit money banks, investment …

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The Asset Management Corporation of Nigeria (AMCON) has said at least 350 individuals in the country currently owe banks N2.5 trillion. Managing Director/Chief Executive Officer of AMCON, Mr. Ahmed Kuru, disclosed this at a Retreat for House of Representatives Committee on Banking and Currency in Enugu yesterday. He told the committee members that the corporation’s recent assessment of obligors as at …

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