Amcon in a sentence

The Managing Director/Chief Executive Officer of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has pledged the full support of AMCON to its partners in their bid to recover the corporation’s portfolio.

He, however, accused the chairman of going after him when her sister was rejected at AMCON due to age factor.

It is worth knowing that, at conception, it was envisaged that AMCON being a loss minimization entity would repay 30% of the obligation.

She highlighted that Governor Uzodimma also recovered Imo Standard Shoes from AMCON and cleared off the N1.6billion debt with a view to industrialising the state and create jobs.

The statement signed by the Publisher/Editor of Realnews, Ms Maureen Chigbo, on Monday in Abuja, said that the Managing Director of Assets Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, would participate at the event.

They stressed that continuing AMCON’s involvement is the only viable option to ensure Arik Air’s survival.

Also, a source involved in the valuation report for Unity Bank was quoted as saying that two former Nigeria’s military leaders and the Asset Management Corporation of Nigeria (AMCON) are among the biggest shareholders of Unity Bank.

AMCON has announced plans to engage international asset tracers to locate and recover assets hidden by recalcitrant debtors offshore including those masqueraded under Special Purpose Vehicles (SPVs).

Empowered Funds LLC increased its position in shares of AMCON Distributing () by 7.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission.

THE Asset Management Corporation of Nigeria (AMCON) has concluded plans to engage some of the best globally renowned asset tracers.

This came as the Federal Government also ordered the sale of DisCos that had been taken over by banks and the Assets Management Corporation of Nigeria (AMCON) from their original investors/owners.

This followed a September 2021 court judgment that granted preservative orders in favour of AMCON, being the receiver/manager of Integrated Energy Distribution and Marketing Limited.

Following the seizure order made by Justice Rilwan Aikawa on November 4, AMCON took over 12 properties belonging to Ibrahim and his firms.

For those unfamiliar with the facts of AMCON’s war against stubborn debtors, this position may appear too strong.

The assets of Alhaji Buba Galadima and that of his company, Bedko Nigeria Limited and Bedko Nigeria Limited has been seized by Asset Management Corporation of Nigeria (AMCON) over N900 million debt.

The new Act has given AMCON more powers to access to thefinancial details of debtors and when necessary, place their bank accounts under surveillance.

There are reports that media girl, Toke Makinwa's sprawling mansion has been seized by the Asset Management Company of Nigeria (AMCON).

AMCON counsel, Mrs Juliet Benson, told the judge that Duke had fulfilled the terms of the out-of-court settlement and both parties had agreed to the terms.

He said the committee will deepen its collaboration with AMCON to enable the corporation to recover all government assets both physically and finically and return same to the federal government.

Justice C.J. Aneke who gave the order said AMCON was mandated to move in immediately and take possession of the assets of the firms over the indebtedness.