AMCON
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economy
BRIPAN, AMCON partner on asset management
Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) has partnered the Asset Management Corporation of Nigeria (AMCON) to empower practitioners with the international best practices on business insolvency and asset management recovery. Both parties at an engagement on Monday in Lagos, stressed the need to jointly build body of knowledge in business and non performing loan recoveries. The News…
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Featured
N4.4trn debt: Some prominent Nigerians delaying AMCON’s recovery effort-Senate
Sen. Uba Sani, Chairman, Senate Committee on Banking, Insurance and other Financial Institutions has decried that prominent Nigerians were “frustrating” the effort of the Asset Management Corporation of Nigeria (AMCON) at recovering the N4.4 trillion owed the corporation. He stated this at a stakeholders symposium on “Consolidating the effectiveness of the asset recovery model adopted by AMCON” held on Friday…
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judiciary
Unpaid AMCON loan: Court orders Benue workers’ salary accounts to be unfrozen
A Federal High Court, Abuja, on Friday, ordered that the salary accounts of Benue State workers be unfrozen, following a plea by the state government over inability to pay workers’ salaries. Justice Inyang Ekwo gave the order after the application for lease of salary accounts and verifying affidavit was moved by counsel to the state government, Terkura Pepe, SAN. The…
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Law
Alleged N69bn debt: Court fixes Jan. 24 for AMCON’s suit against Jimoh Ibrahim
A Federal High Court, Abuja on Monday fixed Jan. 24, 2022 for a suit filed by the Asset Management Corporation of Nigeria (AMCON), seeking a stay of execution of orders it granted the businessman, Jimoh Ibrahim, over alleged N69 billion debt. Justice Okon Abang fixed the date, following AMCON’s appeal filed against the order at the Court of Appeal. …
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Politics
AMCON seizes Buhari’s assets over N600m debt
The Asset Management Corporation of Nigeria (AMCON) has seized the assets belonging to the Senator representing Ogbomosho North Senatorial District, Abdulfatai Buhari, over a N600million debt. The AMCON spokesman, Jude Nwauzor, who disclosed this in a statement on Wednesday, said Senator Buhari took the loan through his company, Abadat Ventures Limited, from Guaranty Trust Bank and refused to repay the…
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News
Aero Contractors sacks managing director, chief financial officer
Aero Contractors, Nigeria’s oldest carrier has fired its managing director Mr. Hugh Fraser and its and chief financial officer Mr. Tunde Pampam. Their sack it was learnt is a fall out of a battle of interest between legacy owners of the airline: the Ibru family and the government owned Asset Management Company of Nigeria (AMCON). Sources said Hugh was often taking…
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NEWS
Smear campaign as investors jostle for acquisition of Enterprise Bank
As the deadline for submission and opening of bid documents submitted by investors for the acquisition of the defunct Spring Bank, which was rescued by the Federal Government in 2011 and managed by the Asset Management Corporation of Nigeria draws near, interested investors in the rescued bank, now known as Enterprise Bank Plc, are employing every available means to outwit…
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