AMCON loses out as court revokes order placing GHL under receivership
Justice Adetayo Aluko of the Federal High Court in Lagos on Friday revoked the preliminary order which placed General Hydrocarbons Limited (GHL) and its assets under the purported Receiver Manager appointed by the Asset Management Corporation of Nigeria (AMCON), Sevi Akinwunmi.
AMCON releases Enugu female students after 6 days in detention
By Chinedu Adonu – Enugu Detained 344 Enugu students and staff of Providence High School on Tuesday regained freedom after six days of being held hostage by Assets Management Corporation of Nigeria, AMCON, who sealed the entrance gate to their school. The padlock with which the school was locked had been removed when visited by […]
Enugu female students still under confinement by AMCON, five days after
By Chinedu Adonu No fewer than 344 students of Providence High School Enugu are still under confinement by the Asset Management Company of Nigeria, AMCON, as at Monday, January 25, 2021, five days after they locked up the entrances to the school with students and staff inside the premises. The management of the School, has […]
AMCON detains 344 Enugu female students, seals school
By Chinedu Adonu No fewer than 344 female students and staff of Providence High School, Independence layout, Enugu were Thursday, detained in the school premises by officials of Assets Management Corporation of Nigeria, AMCON. The AMCON personnel were said to have invaded the school premises and reportedly took possession of the institution and barred all […]
AMCON: The Case Of Suru Worldwide Limited
By Jonathan Owobu There is no doubt that those who proffered the concept of Asset Management Corporation of Nigeria (AMCON), had a noble vision of not only stabilizing the financial sector but also the economy in general. Hence, the institution was created to be a key stabilizing and revitalizing tool aimed at reviving the financial […]
AMCON takes over Jimoh Ibrahim’s prime assets over N69.4bn debt
By Babajide Komolafe The Asset Management Corporation of Nigeria (AMCON) said it has taken possession of twelve prime assets belonging to Barrister Jimoh Ibrahim, the chief promoter of Global Fleet Oil & Gas Limited and NICON Investment Limited in Lagos and Abuja over-indebtedness of nearly N70billion. The Corporation in a statement said the action was […]
Talks still ongoing over Pan Ocean’s N240bn debt, AMCON clarifies
By Prince Okafor The Asset Management Corporation of Nigeria, AMCON, has explained that it is yet to finalise an ‘out-of-court settlement’ with the management of Pan Ocean Group, over the latter’s N240 indebtedness. In a statement in Lagos, the Head, Corporate Communications, AMCON, Jude Nwauzor, explained that “Justice A.M. Liman in suit No. FHC/L/CS/722/20 ordered […]
Talks still ongoing over Pan Ocean’s N240bn debt, AMCON clarifies
The Asset Management Corporation of Nigeria, AMCON, yesterday, said that it is yet to finalise an ‘out-of-court settlement’ with the management of Pan Ocean Group, over the latter’s N240 indebtedness.
AMCON, Pan Ocean in settlement agreement
By Prince Okafor The Asset Management Corporation of Nigeria, AMCON and Pan Ocean Oil Corporation Nigeria Limited alongside Newcross Petroleum Limited have agreed to a settlement agreement, wherein both parties have agreed to an out-of-court-settlement pending the consent of a Federal High court. This settlement is in line with AMCON’s role as a resolution vehicle […]
Senate, AMCON adopt measures against Saboteurs – Uba Sani
…says assets recovery will improve economy By Ibrahim HassanWuyo The Chairman Senate Committee on Banking Insurance and other Financial Institutions, Uba Sani has said that his committee and the Asset Management Corporation of Nigeria (AMCON) have identified the strategies being employed by debtors to stall the repayment of loans, including the dragging of court cases […]
AMCON takes over assets of Northrich over N500m debt
The Asset Management Corporation of Nigeria (AMCON) has taken over the assets of Northrich Technologies Limited over alleged failure of the company to repay N500 million debt.
AMCON takes over assets of Northrich Technologies over N500m debt
The Asset Management Corporation of Nigeria (AMCON) has taken over the assets of Northrich Technologies Limited over failure of the company to repay N500 million debt.
AMCON vs POON N58bn loan dispute: We’re yet to settle, parties tell court
By Onozure Dania The parties in N58.9billion loan dispute between Pan Ocean Oil Corporation Nigeria Limited (POON), its affiliate companies and Asset Management Company of Nigeria (AMCON) have told a Federal High Court sitting in Lagos that they have not been able to agree on terms of settling out of court. Lead counsel for the […]
Maritime Debt: AMCON takes over vessels, shipping firms, tank farms, others
THE Asset Management Company of Nigeria, AMCON, has commenced moves to take over some maritime assets which include tank farms and ships owned by indigenous shipping firms.
AMCON remains focused and strategic
The recent announcement by the Asset Management Corporation of Nigeria (AMCON) that, as at first quarter of this year, it had recovered N1.1 trillion from bad loans is a significant development. This figure which represents the total sum the “bad bank” has recovered since its establishment in 2008 is a clear improvement on the N1 […]
N9.8bn debt: AMCON takes over mechanic village, lands at Lekki
By Innocent Anaba Asset Management Corporation of Nigeria, AMCON, has moved against debtors owing the Federal Government over N9.8billion by seizing their properties and lands in the Lekki area of Lagos State. The properties include a large expanse of lands occupied by squatters and mechanic village at Goshen Beach Estate and environs. The debtors, in […]
