News

Debt recovery: IGP pledges full support for AMCON

The Inspector General of Police (IGP) Mr Usman Alkali Baba has declared that the Asset Management Corporation of Nigeria (AMCON) needs the collaboration of all Assistant Inspector- Generals of Police (AIGs) as well as the Commissioners of Police (CPs) in the 36 states of the federation in its debt recovery drive, which is now at […]

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BDAN seeks timeline on banks’ contribution to AMCON

…says levy now second-largest lenders’ expense The Banks Directors Association of Nigeria (BDAN) has called for an end to banks’ annual contribution to the Asset Management Company of Nigeria (AMCON).Chairman of the Association, Mustafa Chike-Obi, who made the call, said the levy had become problematic for the banks. Chike-Obi, who incidentally was the pioneer Managing […]

Business

AMCON loses bid to seize businessman’s property over alleged debt 

A businessman, Mr. Adedayo Mumuni Shittu, has recovered his plot of land at Block B Plot 2 Victory Park Estate Igbokushu, Lekki Phase I, Lagos, from an “unknown individual”, following a court order.   The land, delineated by Survey No. DK/0332/014/20011/LA, is registered at the Land Registry of Lagos State as No. 61, Page 61 Volume 2467. […]

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AMCON, Dana, Afrijet fight over $30m failed deal

Police invite airline’s MD, directors for questioning A $30 million African Export-Import Bank (AFREXIM) loan granted to Afrijet Airline for the failed acquisition of four airplanes has be-come a subject of litigation between the airline, Assets Management Corporation (AMCON) and Dana Airline. Consequently, the Nigerian Police Force has invited the Managing Director of Dana, Mr. […]

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Senate confirms Kuru as AMCON MD for 2nd term

The senate yesterday confirmed the appointment of Mr. Ahmed Kuru, as managing director, Asset Management Corporation of Nigeria (AMCON), for a second term in office in line with President Muhammadu Buhari’s request. This followed the adoption of the report of the Senate Committee on Banking, Insurance and other Financial Institutions, at plenary. Presenting the report, […]

Business

‘Recession may hinder AMCON’s debt recovery drive

The already significant challenges that the Asset Management Corporation of Nigeria (AMCON) is facing in trying to recover over N5trillion debt from obligors could be worsened by the imminent economic recession, analysts at CSL Research have said. The analysts, who stated this in a note obtained by New Telegraph, yesterday, pointed out that since the […]

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