Tag Archives: AMCON

The Asset Management Corporation of Nigeria (AMCON) has joined stakeholders to call on the federal government to provide bailout for the aviation sector, noting that airlines and agencies in the industry critically need financial support in order to sustain their operations. The call was made by the Executive Director in charge of Operations at AMCON, Mr. Aminu Ismail, who controls ...

Asset Management Corporation of Nigeria (AMCON), has taken over two properties belonging to Hon. Ademola Seriki, in Lagos, and Abuja, over an outstanding staggering indebtedness of nearly N1billion. The action follows an order by Hon. Justice Chuka Austine Obiozor of the Federal High Court, Lagos. The case between AMCON and Seriki, a former Minister of State for Defence as well ...

The Federal High Court in Lagos has ordered the Asset Management Corporation of Nigeria and United Bank for Africa to take over an Ikoyi, Lagos property of a former governor of Cross River State, Mr Donald Duke, over an alleged debt of N537,334,360.77. The court made the takeover order in an August 8, 2019 ruling by Justice Chuka Obiozor. The ...

Over 300 residents/families of Victory Park Estate sitting on about 33 hectares of land in Osapa London, along Lekki-Epe Expressway, Lagos have called on President Muhammadu Buhari to intervene over plans to evict them from their properties. Speaking with journalists in Lagos, their solicitor, Mr. Benjamin Atebe urged Buhari to call concerned authorities to order, as they had brought upon ...

Over three hundred residents/families of Victory Park Estate sitting on about thirty-three Hectares of land located in Osapa London along Lekki-Epe Expressway have raised the alarm over move by the Asset Management Corporation of Nigeria (AMCON to forcefully evict them from their properties. Speaking with journalists on behalf of the residents in Lagos, Mr. Benjamin Atebe, a lawyer, urged the ...

The Senate on Thursday concurred to the House of Representatives Bill on Recovery of Public Property (Special Provisions)(Repeal) Bill, 2019. This followed the presentation of the bill by Senate Leader, Senator Ahmad Lawan at plenary. The bill seeks to review provisions for investigation of assets of any public officer alleged to have been engaged in corrupt practices, unjust enrichment of ...

Justice Chuka Obiozor of the Federal High Court in Lagos yesterday placed a No Debit Order on the bank accounts of a limited liability company, Al Kahf Limited, over alleged indebtedness of N4.282, 918, 018,43 billion to the Asset Management Corporation of Nigeria (AMCON). Justice Obiozor also ordered the company, its servants, agents, officers, directors, shareholders, employees, creditors, assigns, tenants, ...

Vice President Yemi Osinbajo, at the weekend, said the federal government will deal decisively with individuals and organisations that made the list of high-profile obligors of Asset Management Corporation of Nigeria (AMCON). He said the debtors have made it impossible for the corporation to resolve its outstanding N5trillion debt, thereby holding the entire country to ransom with their bad behaviour. ...

In a bid to recover a debt of N63.9million, Asset Management Corporation of Nigeria (AMCON) has filed an application before a Federal high court in Lagos southwest Nigeria, to attach funds in the accounts of King Sunny Ade’s wife, Risikat Adeniyi -Adegeye. In an affidavit sworn to by AMCON credit officer Patience Obute , and filed before the court by ...

Former Super Eagles’ captain, Kanu Nwankwo is currently a sad man. Yesterday in Victoria Island, Lagos, the former Arsenal of England striker almost broke down in tears following the realisation that some people are bent on taking over his hotel. The hotel, Hardley Apartment, is subject of a court case over an alleged unrepaid bank loan. A disillusioned Kanu told ...