Ben Agande – Kaduna The Senate Committee on Banking, Insurance and other Financial Institutions has said that Assets Management Company of Nigeria which was set up by the government to buy back bad debts by banks has become a drain on the nation’s economy, adding something must be done to reverse the trend. In a […]

This piece has become necessary following the recent proposal by the CEO of the Asset Management Corporation of Nigeria (AMCON) to the National Assembly that the Minister of Aviation should merge Arik and Aero and use them to float a National Carrier rather than starting a brand new one, which has been on the works for the last four years.

The Asset Management Corporation of Nigeria (AMCON) has taken over two properties belonging, Hon. Ademola Seriki, in Lagos and Abuja over an outstanding indebtedness of nearly N1billion.

THE Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has proposed the formation of a Special Purpose Vehicle (SPV) to assume the outstanding debt assets of the Corporation at the expiration of its sunset period in 2024.

THE Asset Management Corporation of Nigeria, AMCON’s frequent pronouncements about debtors rarely seem to strike a chord with the public; many people do not seem to understand the effect of unpaid loans on the economy, its stability or even the consequences for their own jobs if and when companies destroyed and mismanaged by the same repeat offenders, shut down.

Asset Management Corporation of Nigeria (AMCON) has appealed to the National Assembly to reform the aviation sector for the emergence of Arik Airlines as the nation’s national carrier.

Reports reaching Vanguard has indicated that the Asset Management Corporation of Nigeria, AMCON, has on Monday appealed to the National Assembly to reform the aviation sector for the emergence of Arik Airlines as the nation’s national carrier.

By Levinus Nwabughiogu – Abuja Members of the House of Representatives at Wednesday’s plenary resolved to investigate the debt portfolio of N5.4 trillion to Asset Management Corporation of Nigeria (AMCON) and the alleged unwillingness of some of the debtors to pay. The House will also probe the insurance component of the debts, evaluate the status […]

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.

The Federal Government has taken another determined step in its bid to recover over N5 Trillion outstanding debts owed by the Asset Management Corporation of Nigeria (AMCON), with the formal inauguration of an inter-agency Committee to speedily resolve the challenges in recovering the debts. Vice President Yemi Osinbajo, SAN, inaugurated the Committee on Monday at […]