Tag Archives: AMCON

A Lagos based oil firm, Aquitane Oil and Gas Limited has asked a Federal High Court sitting in Lagos to grant an order of perpetual injunction restraining the Assets Management Corporation of Nigeria (AMCON), or its agents from taking any step to defeat the equity of redemption in respect of No. 5/7, Kingsway Road, Ikoyi, with Lagos State Certificate Title ...

The Chief Justice of Nigeria, Walter Onnoghen, and the President of the Court of Appeal, Zainab Bulkachuwa, said the Asset Management Corporation of Nigeria (AMCON) can leverage the alternative dispute resolution (ADR) infrastructure in courts in its debt recovery mandate. The two justices’ spoke on Monday in Abuja at the interactive session between Justices of Supreme Court; Court of Appeal, ...

Abandoned Properties – The once boisterous building located close to Ikeja under bridge, at Awolowo Road has remained a shadow of its old self-courtesy of the recent sealing order obtained by the Economic and Financial Crimes Commission (EFCC). The mixed-use building, which used to be centre of attraction, is currently placed under lock and key by the anti-graft agency and ...

Much of Abuja property market has continued to fizz after Hon. Justice B.F.M. Nyako of the Federal High Court Abuja Division granted an order for Asset Management Corporation of Nigeria (AMCON) to take over Sigma Apartments owned by Sigma Engineering & Construction Limited. Property watchers say the development may stir the market over expectations that more properties may be seized ...

Asset Management Corporation of Nigeria (AMCON) is battling Union Home over property allegedly belonging to the former minister of aviation, Senator Stella Oduah-Ogiemwonyi. AMCON has through a court order seized several properties belonging to companies like Sea Petroleum Oil and Gas Group Limited and placed them under receivership. The properties in question are E29 and ‪31E Fat Oboh street‬ Millennium ...

The total recoveries by the Asset Management Corporation of Nigeria (AMCON) since its inception in 2010 till December 2017 rose to over N731 billion, the Managing Director/Chief Executive Officer of the agency, Ahmed Kuru, said on Thursday. Mr. Kuru who disclosed this in a statement sent to the spokesperson of AMCON, Jude Nwauzor, said a bulk of the recoveries were ...

The Asset Management Corporation of Nigeria, (AMCON) has lost its bid to take over the land and property known as the Federal Secretariat Complex, in Ikoyi Lagos. Justice Ibrahim Buba in a judgment delivered at the Federal High Court Sitting in Lagos on Wednesday reiterated that the Federal Government of Nigeria and it’s agencies are bound to recognize an arbitral ...

The Managing Director of Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru, has commended the directive of the Central Bank of Nigeria (CBN) compelling commercial banks to lend the real sector for economic growth. Kuru stated this at the Institute of Directors (IoD) 2018 luncheon held in Lagos. The Managing Director of AMCON also noted that lending to the ...

The Asset Management Corporation of Nigeria, AMCON, on Monday debunked reports of illegal seizure a property belonging to former Nigerian football star, Nwankwo Kanu. The agency in a statement on Monday described the allegations as ‘inaccurate’ accounts of the details of the controversy regarding the huge debt of the promoter of The Hardley Apartments, Mr. Nwankwo. Mr. Nwankwo had earlier ...

Asset Management Corporation of Nigeria (AMCON ) has dragged a Limited liability company, Reachout Nigeria Limited and its Chairman, Barrister Steve Ahaneku before a Federal high court in Lagos over unpaid loan of N100m debt. Joined as co-defendants in the debt recovery suit are, the Managing Director of the company Bona Nlemadim and Maxwell Ignatius Eze who is the owner ...