Tag Archives: AMCON

In a bid to recover a debt of N11.2 billion, Asset Management Corporation of Nigeria (AMCON ) has dragged the Olofa of Ofa Kingdom in Kwara state, Nigeria, Oba Mufutau Gbadamosi and his two companies, Zarm Poultry and Feeds Mills Limited and Zarm Stores Limited before a Federal high court in Lagos. In a statement of claim filed before the ...

Former Chief Executive Officer and Managing Director of Asset Management Corporation of Nigeria (AMCON), Mustafa Chike-Obi has called for adjustment in the tax benefit of Real Estate Investment Trust (REIT) to encourage investments in the real estate sector. Chike-Obi, who spoke at the maiden edition of Fusion of Real Estate, Interior Design and Art (FREIA) conference held in Lagos, stressed ...

“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 ...

The Asset Management Corporation of Nigeria (AMCON) in fulfillment of its objectives and exercise of its statutory duty of efficiently resolving eligible bank assets purchased from various eligible financial institutions in Nigeria, offers the following properties for sale to interested members of the public. Further details of the properties available for sale, can be found on the following website: https://www.online.amcon.com.ng or email ...

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. ...

The Cable reports that the Asset Management Corporation of Nigeria (AMCON) recently took over control of Arik Air, Nigeria’s leading airline in order, we are told, to protect their anxious creditors, prevent a catastrophic shutdown of services to the public and preserve the jobs of their long-suffering employees. Arik, has debts of over 300 Billion Naira and needs the immediate ...

The Asset Management Corporation of Nigeria (AMCON) has been granted interim orders by the The Federal High Court Lagos Division to take over  Cityscape International Limited’s assets over its nearly N6 billion debt. According to The Guardian, the debt-induced take-over profile of the Asset Management Corporation of Nigeria (AMCON), has risen as the Federal High Court Lagos Division granted it an ...

Silverbird Galleria Shutdown: Common sense crusader and a senator of the Federal Republic of Nigeria, Ben Murray Bruce is in the news again. But this time it seems the common sense he advocates for has departed his domain temporarily. Punch reports that, The Asset Management Corporation of Nigeria on Thursday morning sealed the Lagos and Abuja premises of Silverbird Galleria ...

The Federal Mortgage Bank of Nigeria (FMBN) in collaboration with Asset Management Corporation of Nigeria (AMCON) has concluded plans to enhance inter-agency cooperation towards addressing economic challenges posed by non-performing loans in mortgage banks. This was part of the resolution following a meeting with the management of FMBN at the AMCON headquarter in Abuja, according to a statement made available ...

The Sokoto State government said it has paid the debt owed Assets Management Company of Nigeria (AMCON) and has retaken possession of the state furniture company. The state also announced that it has opened discussion with some German and Kenyan investors ready to bring funds to revive the company’s operations. The furniture factory, established in 1973, was one of the ...