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Tag Archives: Asset Management Corporation of Nigeria

AMCON, Sterling Bank fingered in illegal land sale

illegal land sale

The Asset Management Corporation of Nigeria (AMCON) and Sterling Bank have been accused of the illegal sale of portions of Victory Park Estate belonging to an indigenous real estate development company, Grant Properties Limited (GPL). The portion of land allegedly sold by the Bank was 10 hectares, which was valued at N5b billion at the time of the sale from ...

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N4.7 Billion Debt – AMCON takes over properties in UK, Lekki, Ijebu-Ode Estates

N4.7 Billion Debt - Amcon takes over properties in UK, Lekki, Ijebu-Ode Estates

“The Asset Management Corporation of Nigeria (AMCON) yesterday on an order of a Federal High Court seized multi-billion naira properties in Lagos, Ogun and United Kingdom from three property firms and eight others following an alleged N4,680,343,681.47 bank debt.”- All Africa The assets, including land, houses, cars and generating plants, were seized in execution of an order granted by Justice ...

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Nigerian govt will not use imported materials in housing schemes – Fashola

‘Building and Construction sector can help stimulate the economy’

“The Minister of Power, Works and Housing, Babatunde Fashola, on Tuesday said the Nigerian government would not use imported materials in its housing schemes.”- Premium Times Mr. Fashola said this at the Real Estate Investment Trust, REIT, Conference, held at the Exchange House in Lagos on Tuesday. Represented by a former finance commissioner in Lagos State, Ayo Gbeleyi, the minister ...

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AMCON takes over firm over N240 million indebtedness

AMCON takes over firm over N240 million indebtedness

The Guardian reports that the Asset Management Corporation of Nigeria (AMCON) has taken possession of the properties of J.A Dama & Sons Limited, Warri, Delta State, over an alleged N240 million indebtedness. AMCON’s action was in execution of a court judgement by Justice Muslim Hassan of the Federal High Court, Lagos empowering the claimant to take possession of the properties. ...

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