The Asset Management Corporation of Nigeria (AMCON) on Monday said at least 350 individuals in the country currently owe banks a total sum of ₦2.5 trillion. The 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. He told the […]
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The Asset Management Corporation of Nigeria today took possession of some multi-billion naira properties in Lagos and Ogun states from three property firms and eight others due to an alleged ₦4.68bn bank debt. The assets including land, houses, cars and generators were seized in execution of a Federal High Court order authorising the receiver/manager, Lanre […]
Read More Managing Director and Chief Executive at the Asset Management Corporation of Nigeria (AMCON) Mr. Ahmed Kuru, at the weekend disclosed that the Sinking Fund facility set up by the Federal Government to complement its efforts in distress resolution in the banking industry has grown to about ₦913billion at the end of 2016. The AMCON sinking […]
Read More As a result of the new aggressive recovery strategies adopted by the Asset Management Corporation of Nigeria, it was able to recover ₦134bn from various debtors in the 2016 financial year. The Managing Director/Chief Executive Officer, AMCON, Mr. Ahmed Kuru, stated this in Lagos on Friday at press briefing to explain the agency’s performance for […]
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What manner of sale? When the Asset Management Corporation of Nigeria (AMCON) announced the sale of Keystone Bank to Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited (the Sigma Golf-Riverbank Consortium) recently, it didn’t envisaged that the process would be subjected to some sort of public scrutiny at all since in its reckoning the […]
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The Asset Management Corporation of Nigeria on Monday said Arik Air, under its previous management, owed the International Air Transport Association $78m. The Media Consultant to Arik Air, Mr Simon Tumba, gave the figure while speaking with newsmen in Lagos. The airline was on February 9 taken over by the Federal Government under the auspices […]
Read More The Asset Management Corporation of Nigeria (AMCON) on Friday restated its commitment to support the country’s economy by helping businesses to grow. Mr Ahmed Kuru, Managing Director, AMCON made the assertion at a media parley in Lagos. Kuru recalled that AMCON was set up during the 2008/2009 global recession to assist businesses in the country […]
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The Asset Management Corporation of Nigeria (AMCON), on Friday, took over the assets of Afrijet Airlines Ltd. owned by Chief Vitalis Ibe, over an unpaid debt of almost N10 billion. This is contained in a statement issued by Mr Jude Nwauzor, Head, Corporate Communications, AMCON, which was obtained by the News Agency of Nigeria, in […]
Read More The Asset Management Corporation of Nigeria (AMCON), said on Monday it was seeking prospective investors to buy the country’s state-backed “bad bank” Keystone Bank, the last of the nationalised banks yet to be sold. AMCON said in a public notice it had decided to divest its 100 percent interest in the bank and ask prospective […]
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