Politics

Senate confirms MD, ED of AMCON

DailyTimesNGR DailyTimesNGR 20 March 2024 0

By Haruna Salami Senate has confirmed the nominations of the Managing Director and three Executive Directors of the Asset Management Corporation of Nigeria (AMCON) at plenary on Tuesday. This followed consideration of report of its Committee on Banking, Insurance & Other Financial

Business

Mustapha Chike-Obi: On his way back to AMCON?

DailyTimesNGR DailyTimesNGR 21 February 2024 0

By Mathew Brangyet Indications were rife on Tuesday that Mr. Mustapha Chike-Obi, chairman of Fidelity Bank Plc, may be on his way back to the Asset Management Company of Nigeria (AMCON). Source at the Presidency, who pleaded anonymity because he was not authorised to make the announcement, said Chike-Obi, a former CEO of the debt […]

Headlines

How litigations stall AMCON’s debt recovery efforts

DailyTimesNGR DailyTimesNGR 22 September 2023 0

..73% of top debtors in different courts By Motolani Oseni Asset Management Corporation of Nigeria (AMCON) may still have a long way to go in meeting its recovery mandate. The prospects are not positive as majority of 350 individuals and business entities with 84 per cent of yet-to-be-recovered debts have tied the body down in […]

Aviation

AMCON recovers N1.6trn for Nigeria through assets sale, other

Ihesiulo Grace 1 August 2023 0

By Temitope Adebayo The Asset Management Corporation of Nigeria (AMCON) said, it has so far recovered more than N1.6 trillion from its obligors through cash payments as well as sale of assets. This is as the corporation and the Nigerian Financial Intelligence Unit (NFIU) have been described as some of the two most important and […]

Business

Shareholders seek complete review of AMCON operations

Ihesiulo Grace 21 November 2022 0

By Temitope Adebayo Shareholders, under the aegis of the Independent Shareholders Association (ISAN), have again called on the federal government to completely review the operations of the Asset Management Corporation of Nigeria (AMCON). Speaking in Lagos at the weekend, the coordinator emeritus of ISAN, Sir Sunny Nwosu, explained that as concerned domestic investors,

Business

AMCON recovers N307bn in two years

Ihesiulo Grace 9 November 2022 0

By Motolani Oseni Not less than a whopping N307 billion has been recovered from debts owed to the Asset Management Corporation of Nigeria (AMCON) in two years, an inter-agency committee set up on the recovery of debts has revealed. The committee, led by its Chairman, Prof. Bolaji Owasonoye, who is also the Chairman of the […]

Headlines

Defence, AMCON, Civil Defence, 11 other MDAs boycott defence of N857bn collections from Service Wide Votes

Ihesiulo Grace 19 October 2022 0

By Tunde Opalana The Defence Headquarters, Ministry of Foreign Affairs, Assets Management Company of Nigeria (AMCON), and Budget Office of the Federation, among others boycotted investigative hearing organised by Senate Public Account Committee (SPAC) on utilization of Service Wide Votes. The fourteen MDAs scheduled to appear before the Committee chaired by Senator Mathew

News

4 banks complied with order on freezing Benue govt accounts -AMCON tells court

Ihesiulo Grace 2 November 2021 0

Four commercial banks in the country have complied with the order of a Federal Hig Court, Abuja, directing the freezing of all bank accounts of Benue Government. The four banks include First City Monument Bank Plc, Standard Charterred Bank Ngeria, Suntrust Bank Nigeria Ltd, and Wema Bank Plc. Counsel to the Asset Management Corporation of […]

News

Senate empowers AMCON to seize debtors’ assets, passes Corporation amendment bill

Ihesiulo Grace 28 April 2021 0

Tunde Opalana, Abuja The Senate, on Wednesday widened the scope of the Asset Management Corporation of Nigeria (AMCON) to recovery bad bank debts by passing the AMCON Act, No2, 2019 (Amendment) B, 2021. The passage of the bill followed the consideration of a report by the Committee on Banking, Insurance and Other Financial Institutions. The […]

Business

AMCON pushing to recover N4.4tn debt

Ihesiulo Grace 29 January 2021 0

Asset Management Corporation of Nigeria (AMCON) says it is pushing hard to recover the N4.4 trillion debts owed the company in failed financial institutions it took over its liabilities. Mr Jude Nwauzor, Head, Corporate Communications Department of AMCON, said this on Thursday in Enugu while briefing journalists on enforcement on an indebted person’s property in […]

Entertainment

Toke Makinwa allegedly lose sugar daddy acquired home to AMCON, Nigerians React

Ihesiulo Grace 28 July 2020 0

Media personality, Toke Makinwa allegedly lose home to Asset Management Corporation of Nigeria(AMCON) on Monday. READ ALSO: Rape Allegation: D’banj Cleared By Police, Reaches Agreement With Seyitan Daily Times has gathered that The mansion at Banana Island was allegedly bought for her by Billionaire Festus Fadeyi. Reactions have however trailed from Nigerians on Twitter.

Featured Headlines

Buhari appoints Mustafa Chike-Obi as Nigeria’s special envoy to U.S.

Ihesiulo Grace 8 July 2020 0

Following the current differences between the United States (U. S.) government and the leading continental stakeholders in the African Development Bank (AfDB), President Muhammadu Buhari has appointed the former Managing Director/Chief Executive Officer, Assets Management Corporation of Nigeria (AMCON), Mustapha Chike-Obi, casually known as MCO, as Special Envoy to the

Business

N240bn debt: AMCON takes over assets of Pan Ocean Group

Ihesiulo Grace 3 July 2020 0

The Assets Management Company of Nigeria (AMCON) has taken over assets of Pan Oceanic group which is promoted by Festus Fadeyi, Lagos oil and Gas businessman whose total indebtedness to AMCON is over N240billion. Justice A.M. Liman of the Federal High Court, presiding over the suit between the Asset Management Corporation of Nigeria (AMCON) vs Everest […]

Business

AMCON takes over Doggi Group assets due to N400m debt

Ihesiulo Grace 19 June 2020 0

Following the order of Honourable Justice A.I. Chikere of the Federal High Court, Abuja division, the Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Alhaji Umaru Baba Abdullahi, the Chief Promoter of Doggi Group Limited over an indebtedness of over N440 million. The order was given by Justice Chikere on June […]

Business

AMCON denies frustrating payment of Aero staff redundancy benefits

Ihesiulo Grace 1 June 2020 0

The Asset Management Company of Nigeria (AMCON) has denied frustrating any efforts in the payment of Aero staff redundancy benefits. This is just as the company also stated that it had never defaulted in the agreement reached with unions in the industry. Executive Director, AMCON, Aminu Ismail responding to a question asked on the redundancy […]

Business

AMCON stabilises aviation sector with N50bn in 8 years

Ihesiulo Grace 29 May 2020 0

Asset Management Corporation of Nigeria (AMCON) said it has injected around N50 billion into the aviation sector solely to stabilize airline operations in the country between 2012 and 2020.  The was disclosed on Wednesday by Mr. Aminu Ismail, the Executive Director, Operations at AMCON. He said AMCON’s intervention led to the purchase of about $1 […]

News

Court adjourns Buba Galadima, AMCON case till April 20

Ihesiulo Grace 19 March 2020 0

Justice Anwuli Chikere of a Federal High Court, Abuja on Thursday adjourned until April 20 the suit filed by the Asset Management Corporation of Nigeria (AMCON) to take-over the assets of Alhaji Buba Galadima and his company, Bedko Nigeria Limited. Justice Chikere, adjourned the matter after counsel to AMCON, Akpama Ekwe, told the court that […]

Business

AMCON takes over 72 properties in Lagos over N8.4bn debts

Ihesiulo Grace 10 March 2020 0

The Asset Management Corporation of Nigeria (AMCON) has clampdown on the properties of 12 debtors owe the Federal Government a whopping sum of N8.4billion in Lagos.  The operation took place simultaneously in Lekki, Apapa, Ikeja, Somolu and Kosofe areas of Lagos State metropolis. The affected properties are Elegant Court on Mobil Road Lekki. It houses […]

Business

AMCON takes over Buba Galadima’s company, residence

Ihesiulo Grace 26 February 2020 0

A Federal High Court sitting in Suits No. FHC/ABJ/CS/1136/2019 has ordered Asset Management Corporation of Nigeria (AMCON) to take over the business and assets of Bedko Nigeria Limited and Alhaji Buba Galadima. It is said that Bedko Nigeria Limited and Alhaji Buba Galadima owes AMCON nearly N900million. The loan was purchased during the first phase of […]

Featured

AMCON takes over Buba Galadima’s assets in Abuja

Ihesiulo Grace 25 February 2020 0

The assets of Alhaji Buba Galadima and that of his company, Bedko Nigeria Limited and Bedko Nigeria Limited has been seized by Asset Management Corporation of Nigeria (AMCON) over N900 million debt. The seizure was facilitated by an order by the Federal High Court sitting in Abuja in Suits No. FHC/ABJ/CS/1136/2019. AMCON is to to […]