The Economic and Financial Crimes Commission (EFCC) is set to arraign the former Managing Director of Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru. EKO HOT BLOG gathered that Ahmed Kuru is to be arraigned alongside the current Managing Director of Arik Air, Captain Roy Ilegbodu, the receiver manager of Arik Air, Kamilu Omokide, Union … Read more
Ahmed Kuru, the former Managing Director of the Asset Management Corporation of Nigeria (AMCON), was absent in court on Monday, where he was scheduled to face a six-count charge for alleged theft of Arik Air’s property and abuse of office. EKO HOT BLOG reports that Kuru, alongside Arik Air’s current Managing Director, Captain Roy Ilegbodu, … Read more
The NREC and BPE chiefs said the new boards for the affected discos have been approved They added that the Asset Management Corporation of Nigeria (AMCON) would be a placeholder board for IBEDC in a temporary capacity EDITOR’S PICK Firm Announces Annual Tonnes Of Plastic Waste Generated In Lagos LASG Partners ELCA To Produce 128 … Read more
AMCON Ordered By Court To Seize Babatunde Folawiyo’s Assets Over N727.9m Debt The court order came after the law firm of Seun Omotoba filed an application with the court Eko Hot Blog reports that Tijani Babatunde Folawiyo, a Lagos millionaire businessman, is having a bad time, as a Federal High Court in the state … Read more
AMCON has taken over IBEDC. EKO HOT BLOG reports that the Assets Management Corporation of Nigeria (AMCON) has taken over the Ibadan Electricity Distribution Company(IBEDC) Ltd over insolvency. This was revealed in memo signed by the Chief Operating Officer (COO) Engineer John Ayodele which was directed to members of staff intimating them of the development. … Read more
Court throws out AMCON’s suit against Buhari on 600 million naira debt A Federal High Court in Abuja has thrown out the suit filed by the Asset Management Corporation of Nigeria (AMCON) against Senator Buhari Abdulfatai. Justice Inyang Ekwo made the decision on Thursday after he discovered that AMCON fraudulently obtained an order to seize … Read more
The Ex-Gov describes the action as unnecessary. Immediate past Governor of Kwara State, Alhaji Abdulfatah Ahmed, says the reported take over of his Ilorin property by a lawyer purporting to represent AMCON was unnecessary and overzealous due to ongoing talks to resolve previous transactions with two defunct banks, reports. In a statement by his media … Read more
According to the lawmaker, “under the current Act, the continued smooth operation of AMCON is threatened by the tenor put on a key funding provision for AMCON.” The Senate debated a crucial bill on Tuesday that would empower the Asset Management Corporation of Nigeria (AMCON) in asset recovery and reinforce it against economic sabotage by … Read more
The Asset Management Corporation of Nigeria (AMCON) has urged all agencies of the Federal Government and other stakeholders to join in its debt recovery drive as it looks to secure an outstanding ₦4.4trillion debt. A statement issued on Sunday by AMCON said failure to recover the debt would further aggravate the nation’s economic woes. Read … Read more
NOVEMBER 19, 2020 The Asset Management Corporation of Nigeria (AMCON) has taken over 12 “prime assets” belonging to the Chairman of Global Fleet Group, Jimoh Ibrahim, and had his accounts frozen over a ₦69.4 billion debt. This followed an order by Justice R.M. Aikawa of the Federal High Court in Lagos, according to a statement … Read more
The Asset Management Corporation of Nigeria (AMCON) has seized assets belonging to Umaru Baba Abdullahi, the chief promoter of Doggi Group Limited, over a N440 million debt. AMCON took possession of two properties located at Plot 3810, Cadastral Zone A04, Asokoro District, Federal Capital Territory, Abuja, and Plot 1274, Cadastral Zone B07, Katampe Hills, Katampe … Read more
Following Mohammad Mamman Nami’s confirmation as the Chairman, Federal Inland Revenue Service, (FIRS), Buhari has written to the Senate, seeking for the screening and confirmation of Edward Adamu as Chairman, Asset Management Corporation of Nigeria, AMCON. The letter dated December 9, 2019, reads: “In accordance with Section 10(1) of the Asset Management Corporation of Nigeria … Read more
The Federal Government has inaugurated an inter-agency committee to speedily resolve the challenges in recovering over N5 trillion Asset Management Corporation of Nigeria(AMCON) debts. Vice President Yemi Osinbajo, who inaugurated the committee at the Presidential Villa, Abuja, tasked its members to deploy their expertise in the assignment. The committee is headed by the Chairman, Independent … Read more