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N2bn Debt: AMCON Takes Over Firm’s Assets

N2bn Debt: AMCON Takes Over Firm’s Assets   The Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Glano Nigeria Limited over N2 billion debt. The move by the corporation followed an order of Honourable Justice I. N. Buba of the Federal High Court...

AMCON Bars Arik Air Founder From Entering Airline’s Premises

AMCON Bars Arik Air Founder From Entering Airline’s Premises   A little drama unfolded at the Murtala Muhammed International Airport in Lagos on Tuesday, when the management of Arik Air prevented the chairman/founder of the airline, Chief Johnson Arumemi-Ikhide, from accessing its premises. Arumemi and his aides...

CBN Report: AMCON Liabilities Hit N5.7tn

CBN Report: AMCON Liabilities Hit N5.7tn Asset Management Corporation of Nigeria’s liabilities stood at N5.72tn as of the end of the first half of 2022. The Financial Markets Department of the Central Bank of Nigeria disclosed this in its ‘Half-year activity report 2022’ released on Thursday. It...

Senate Vows To Back AMCON’s Debt Recovery Drive

Senate Vows To Back AMCON’s Debt Recovery Drive   The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani, has reiterated the willingness of the National Assembly to continually support the debt recovery efforts of Asset Management Corporation of Nigeria. The Senator made...

We Recovered N1.4trn Bad Debt – AMCON Boss

We Recovered N1.4trn Bad Debt - AMCON Boss   The Managing Director/CEO, of Asset Management Corporation of Nigeria, (AMCON), Ahmed Kuru has said the Corporation has recovered about N1.4trn, which comprises of cash N681bn; Property Forfeiture N279bn; Share Forfeiture N140bn; and other strategic assets N208bn. Similarly, a...

AMCON Recovers N1trn From Debtors

AMCON Recovers N1trn From Debtors   The Asset Management Corporation of Nigeria (AMCON) has recovered over N1 trillion from debtors, its Managing Director, Ahmed Kuru, has announced. He spoke during a visit by the Leadership of the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) to...