Tag Archives: AMCON

The senate has confirmed Muiz Banire as chairman of the governing board of the Assets Management Corporation of Nigeria (AMCON). Banire, a senior advocate of Nigeria (SAN), was nominated for the position by President Muhammadu Buhari in July. The former legal adviser of the ruling All Progressives Congress (APC) was confirmed after a report was presented by Rafiu Ibrahim, chairman …

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The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Adebayo Ibrahim, has said that Nigeria can be made great again, if the legislature as a matter of urgency empowers the Asset Management Corporation of Nigeria (AMCON) to go after recalcitrant obligors. He said that is the only way AMCON can meet its mandate of achieving the …

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The Asset Management Corporation of Nigeria (AMCON) has said there will be no more room for negotiation with its debtors, declaring that it  is set for a new stage. This new stage, according to AMCON, would involve complete take-over of the assets of its chronic debtors. The Managing Director and Chief Executive Officer of AMCON, Mr. Ahmed Kuru, who disclosed in …

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In a bid to settle out of court the debt of N42billion,Asset management Corporation of Nigeria AMCON and MRS Holding limited has filed terms of settlement before a Federal High court in Lagos south west Nigeria. MRS Oil and Gas Company limited and its subsidiaries are primary obligors under a syndicated loan facility in the sum of $40million availed to …

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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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