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Posts Tagged "amcon"

HomePosts Tagged "amcon"

The Assets Management Corporation of Nigeria (AMCON) has published the names of its top 105 debtors. According to the corporation, the “delinquent debtors”, whose names were released owed a total of N906 billion. “This has become necessary as all avenues provided by the corporation for the debtors to propose acceptable resolution terms have failed,” it […]

The Asset Management Corporation of Nigeria (AMCON) says it is collaborating with the Economic and Financial Crimes Commission (EFCC) to check out some banks and its officials who facilitated the huge non-performing loans in AMCON’s portfolio. AMCON made this known in a statement after a meeting with the management of EFCC on Thursday in Lagos. […]

Reported comments from the MD of AMCON (Asset Management Company of Nigeria), Mr. Ahmed Kuru, over recent days suggest that the Federal Government backed institution is beyond repair. AMCON was established in the dark days of the financial crisis as a “bad bank”, where all banks could unload their bad debts (non-performing loans or NPLs […]

By Chinedu Eze The controversy rocking Nigeria’s major carrier, Arik Air, may soon be over as the shareholders are now deeply in discussion with a major investor, who would take over significant shares from the company and provide the funds to offset the debts of the airline owed to Asset Management Corporation of Nigeria (AMCON) […]

The Receiver Manager of Arik Air, Mr Oluseye Opasanya (SAN), said the embattled airline was indebted to its trade and finance creditors to the tune of N375 billion. Opasanya made the disclosure in an affidavit filed in support of the airline’s receivership by the Asset Management Corporation of Nigeria (AMCON), before Justice Muhammed Idris of […]

Chinedu Eze There are indications that Arik Air which management was taken over on last week by the Asset Management Corporation of Nigerian (AMCON) has started going through a new lease of life. According to the head of AMCON media consultant, SY and T, Simon Tumba, within 24 hours of intervention by the government, “Arik […]

Maureen Ihua-Maduenyi The new management of Arik Air has announced the suspension of its international flight operations to enable the carrier find permanent solutions to the problem of delays and cancellation of flights. The airline said the decision was aimed at realigning operations and refocusing on satisfying its domestic, West African and other international passengers. […]