Justice Rahman Oshodi of the Lagos State Special Offences and Domestic Violence Court, Ikeja, has struck out a N60bn fraud case against former Managing Director of the Asset Management Corporation of Nigeria, Ahmed Kuru, following the Federal Government’s decision to withdraw the charges. The withdrawal was effected through the Director …
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A prominent politician, Alhaji Buba Galadima, on Tuesday, began his defence in a case involving an alleged outstanding N1.3 billion Unity Bank loan given to Bedko Nigeria Limited, a company allegedly linked to him, according to the Asset Management Corporation of Nigeria (AMCON). Galadima entered the witness box at the …
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ASSET Management Corporation of Nigeria (AMCON) has said that it will engage international asset tracers to locate and recover nearly N5 trillion in outstanding debts, including assets hidden offshore by recalcitrant debtors. Gatekeepers News reports that AMCON’s managing director and chief executive officer, Gbenga Alade revealed this during a meeting with …
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THE Federal Government has disclosed plans to sell off the five electricity Distribution Companies (DisCos) managed by some banks and Asset Management Company (AMCON) to technical power operators, by July 2024. Adebayo Adelabu, the minister of power disclosed this in Abuja on Monday during an oversight visit of the Senate Committee …
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Stanbic IBTC Bank PLC’s (the Bank) attention has been drawn to a publication by various online media, which purports to indicate that Ascon Oil Limited (“Ascon”) ‘retook possession’ of a property along Lekki Admiralty Way, pursuant to an alleged Court Order issued in their favour. This is certainly a gross …
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A federal high Court has ordered AMCON to take over Senator Ben Bruce’s Silverbird Galleria in Lagos over N11Billion Debt. The Galleria has been shut down.More photos below…
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THE Asset Management Corporation of Nigeria, AMCON, Wednesday admitted before an investigative panel of the House of Representatives that its current liabilities stand at N6.6 trillion following purchase of bad loans worth N3.3 trillion at the sum of N1.7 trillion. This was disclosed by the Managing Director of AMCON, Ahmed …
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The Assets Management Company of Nigeria (AMCON), in its debt recovery process has taken over a building belonging to a construction company,G.Cappa over its unpaid N1.2 Billion debt. The building is located at 8,Taylor road,Ebute-Metta, Lagos and it is in line with the order of the Federal high court in …
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