Tag "AMCON"

Back to homepage

Assets Forfeiture: Jimoh Accused of Alleged ContemptBusiness mogul, Jimoh Ibrahim

By MBACHU GODWIN, Abuja Business mogul, Jimoh Ibrahim has been acussed of allegedly colliding with  a Security Organization to Circumvent a Court Order Jimoh in a bid to regain his business taken over by Assets Management Corporation of Nigeria is

Read More

AMCON Sector Resolution Funds Collection Hits N654bn In Four Years

By Mimidoo Patrick With the growing assets due to business expansions, among other factors, Assets Management Corporation of Nigeria, AMCON,  has said between 2020 and 2017 has collected N6654billion from 12 banks operating in the country. The 12 banks are

Read More

How Loan Defaulters Wrecked Nigerian Economy – AMCON

Charles Ebi The Asset Management Corporation of Nigeria has said that loan defaulters of Deposit Money Banks who are on its books almost crashed the Nigerian economy if not for its intervention. AMCON, an agency of the Federal Government, also

Read More

Hurdles Before AMCON’s N5.4tr Debt Recovery Bid

Four years to its liquidation, the Asset Management Corporation of Nigeria, AMCON, is still battling to recover over N5.4 trillion debts. In eight years of its operation, AMCON has not made headway in recovering these debts. What Can AMCON do

Read More

AMCON Seizes Egbema, Omoku Power Projects From Rockson Over Delay

The Managing Director of Niger Delta Power Holding Company (NDPHC), Mr Chiedu Ugbo, says the Assets Management Corporation of Nigeria (AMCON) has taken over Egbema and Omoku power plant projects from Rockson Engineering Limited over delays in completing them. The

Read More

Senate Confirms Appointment Of Muiz As AMCON Chairman

The Nigerian senate Wednesday confirmed the appointment of Mr. Banire, Muiz Adeyemi Ph.D, SAN, as the Chairman of the governing board of the Assets Management Corporation of Nigeria (AMCON). This was made possible after Senate dissolved into the Committee of

Read More

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

Read More

AMCON gets order to seize Jimoh Ibrahim’s assets

A Federal High Court in Lagos has granted an interim injunction to the Asset Management Corporation of Nigeria to take over some assets belonging to Nigerian businessman, Mr. Jimoh Ibrahim, over an alleged indebtedness of N50bn. Justice Saliu Saidu, who made

Read More

Between Nigerian Banks and Dr. Chris Ngige, By Simbo Olorunfemi

“Even if you are going to lay off, there is a way to declare redundancy, there is a process. Section 20 of the labour act says it. You must call the unions and discuss with them. You don’t just treat

Read More

FG Moves To Retrieve Loans Granted To Banks

The Federal Government has set up an inter-agency committee on recovery of loans granted to commercial banks and corporate organizations by Asset Management Corporation of Nigeria (AMCON). The committee, which was inaugurated last Thursday in Abuja by the Minister of

Read More