Nigerian Senate backs AMCON’s plan to publish debtors’ list
The senate committee on banking has backed Nigeria’s bad bank, the Asset Management Corporation of Nigeria (AMCON), to publish the list of its defaulting obligors. Rafiu Adebayo Ibrahim, chairman senate committee on banking, insurance and other financial institutions, who announced the legislative backing, said that Nigeria can be made great again, if the legislature as […]
Nigeria’s bad bank seeks stakeholders’ collaboration on speedy asset disposals as 35% comprises properties
In a bid to rejig its asset sales strategy and facilitate speedy disposals, the Asset Management Corporation of Nigeria (AMCON) says it is restructuring its processes internally and seeking the collaboration of all stakeholders for better outcomes in its asset resolution operations. Ahmed Kuru, the managing director/chief executive officer of AMCON, disclosed this while declaring […]
AMCON disowns media stories on purported response to Grant Properties’ allegations
The Asset Management Corporation of Nigeria (AMCON) in a statement Tuesday said media stories making the rounds regarding its response to a pending debt-related issue between it, some banks and one Olajide Awosedo, chairman of Grant Properties Limited are all “barefaced falsehood”. Specifically, the bad bank refutes a purported “AMCON response” in some sections of […]
Nigerians commend AMCON on intervention in Arik, Aero
Airline passengers in Nigeria have commended the Asset Management Corporation of Nigeria (AMCON) on its intervention in two of Nigeria’s failing carriers, Arik Air and Aero. They specifically praised the on-time-performance (OTP) of Arik since the intervention. AMCON took over the management of the airline in February 2017 following a huge debt profile to AMCON […]
Delta takes over Arik’s Lagos-New York route, becomes sole carrier from Nigeria to US
Delta Air Lines Monday announced it was introducing three weekly nonstop flights from Lagos to New York-JFK, starting March 25, 2018, effectively taking over a route that was previously operated by Arik Air, the Nigerian operator currently under receivership following debts owed Nigeria’s bad bank, the Asset Management Corporation of Nigeria (AMCON). Delta already runs […]