The Asset Management Corporation of Nigeria (AMCON) has announced the sale of Keystone Bank, one of Nigeria’s commercial banks to to Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited (the Sigma Golf – Riverbank consortium). In a statement signed by Jude Nwauzor, AMCON head of corporate communications, the bad debt bank said it “is […]
Continue Reading
Aero Contractors Airline, which is under the management of the Asset Management Corporation of Nigeria (AMCON), has sacked about 900 workers representing 60 per cent. Letters of redundancy were issued to the affected employees during the week. Media Consultant to the 58 year-old airline, Mr Simon Tumba, who confirmed the development in a statement issued on […]
Continue Reading
The Asset Management Corporation of Nigeria, AMCON, on Monday said Arik Air, under its previous management, owed the International Air Transport Association, IATA, $78 million (about N25 billion). Simon Tumba, Media Consultant to Arik Air, gave the figure while speaking with journalists in Lagos. The airline was on February 9 taken over by the Federal […]
Continue Reading
The Asset Management Corporation of Nigeria (AMCON) has taken over Odengene Air-Shuttle Services, known more as OAS Helicopters in Lagos following a court order. It was the third aviation firm to be taken over by the bad bank in four months. The News Agency of Nigeria (NAN) gathered that AMCON had on Tuesday sealed the […]
Continue Reading
The Asset Management Corporation of Nigeria (AMCON) on Sunday said it had discovered deep rooted rot at embattled airline, Arik Air. AMCON said it would require over N10 billion to fix the rot before the largest local carrier could resume full and uninterrupted flight operations to its regular routes across the country and beyond The […]
Continue Reading
The management of Arik Air on Thursday said it would challenge the taking over of the airline by the Assets Management Company of Nigeria (AMCON) in court. Ado Sanusi, senior vice-president, Arik Air, made the disclosure at a joint news briefing with Oluseye Opasanya (SAN), the receiver manager, and Roy Ilegbodu, airline’s technical consultant. AMCON […]
Continue ReadingSimbo Olorunfemi Nigeria, in the recent past, suffered a massive heart attack, leading to a monumental corrosion of her value system. The line between night and day has since blurred, and there is no way to clearly tell the difference; people are struggling to tell right from wrong. Last week, the Asset Management Company of […]
Continue ReadingThe Asset Management Corporation of Nigeria (AMCON), on Friday, took over the assets of Afrijet Airlines Ltd. owned by Chief Vitalis Ibe, over an unpaid debt of almost N10 billion. This is contained in a statement issued by Mr Jude Nwauzor, Head, Corporate Communications, AMCON, which was obtained by the News Agency of Nigeria (NAN), […]
Continue Reading
The President of the Federal Republic of Nigeria, Muhammadu Buhari has approved the dissipation of the Executive Management Team of the Assets Management Corporation of Nigeria (AMCON). He has also approved the reconstitution of the management team of the corporation as follows: · Ahmed Lawan Kuru – Managing Director · Kola Ayeye – Executive Director · Eberechukwu Uneze – Executive Director · Aminu Ismail – Executive Director […]
Continue Reading