AMCON takes over Ibadan Electricity Distribution Company, IBEDC

The Asset Management Corporation of Nigeria (AMCON) has taken over the management of the Ibadan Electricity Distribution Company (IBEDC) Ltd over insolvency. In a memo distributed to all staff of the company (IBEDC), the Chief Operating Officer (COO), Engineer John Ayodele, informed them the “Receiver/Manager came in today 20th January[Read More…]

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[Read More…]

AMCON lists four banks that complied with order to freeze Benue govt account

Four commercial banks in the country have complied with the order of a Federal High Court, Abuja, directing the freezing of all bank accounts of the Benue Government. The four banks include First City Monument Bank Plc, Standard Chartered Bank Nigeria, Suntrust Bank Nigeria Ltd, and Wema Bank Plc. Counsel[Read More…]

N5bn Debt: AMCON takes over mansion of Kwara ex-Governor Ahmed, a day after forming new party

The Assets Management Corporation of Nigeria (AMCON) has seized some houses belonging to former Governor Abdulfattah Ahmed of Kwara State over a N5 Billion debt. The houses are located at Abdulrazaq road, GRA, Ilorin. A.M. Liman, a justice at the federal high court, Lagos division, gave AMCON the order on[Read More…]

Breaking: Nigerian Senate confirms Ahmed Lawan Kuru as the managing Director of AMCON, others

The Senate has Wednesday, confirmed the nomination of Ahmed Lawan Kuru as Managing Director of the Asset Management Corporation of Nigeria (AMCON) and two others as the executive directors. The Nomination of Ahmed Lawan Kuru is CONFIRMED as Managing Director of the Asset Management Corporation of Nigeria (AMCON). The Nomination[Read More…]

AMCON says debt owed by 350 people is up to N3.6Trillion

The Asset Management Corporation of Nigeria (AMCON) says 350 obligors are holding on to debts worth N3.6 trillion out of its total N4.4 trillion exposure. This was included in a paper presented by Joshua Ikioda, the group head of AMCON enforcement, during a two-day training for federal high court legal[Read More…]

N69.4billion debt: AMCON takes over businessman Jimoh Ibrahim’s assets

The Asset Management Corporation of Nigeria (AMCON) said it has taken possession of twelve prime assets belonging to Barrister Jimoh Ibrahim, the chief promoter of Global Fleet Oil & Gas Limited and NICON Investment Limited in Lagos and Abuja over debt worth nearly N70billion. In a statement released on Wednesday,[Read More…]

Airline Aero Contractors Suspends Flight Operations, All Workers Sent On Indefinite Leave

After over five years of been in murky waters due to the diversion of funds and inflation of aircraft price by its the management, Aero Contractors has finally announced its plans to suspended flight operations from tomorrow, Thursday, September 1, 2016. The airline, which was taken over by the Asset[Read More…]

“In 36 Years, Silverbird Has Grown, Tough Times Don’t Last” – Ben Bruce Promises To Be Back

Senator Ben Murray-Bruce has said the situation, which led the Asset Management Corporation of Nigeria to take possession of Silverbird Galleria today, is being resolved. AMCON took possession of the Silverbird Galleria in Abuja and Lagos, which houses the Senator’s companies on Thursday morning, denying workers entry into the premises.[Read More…]

Breaking: Ben Murray-Bruce’s Multibillion Naira Properties (Silverbird Galleria, Silverbird Promotions & Showtime) Seized By AMCON

The Asset Management Corporation of Nigeria (AMCON) on Thursday morning took over the assets of three companies belonging to Senator Ben Murray Bruce, PREMIUM TIMES reports.. READ The Earlier report Court Orders AMCON To Take Over Senator Ben Bruce’s Silverbird Galleria Over N11B Debt… The companies affected by the takeover are[Read More…]