May 6, 2021
  • May 6, 2021

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Senate empowers AMCON to take over assets of debtors, charges them to special tribunal in new amendment bill

by on April 28, 2021 0
The Senate has passed an amendment bill empowering the Assets Management Corporation of Nigeria (AMCON) to go after the assets of debtors to enable the corporation recover outstanding loans totaling N5.5 trillion from recalcitrant debtors. The bad bank had bought over the non-performing loans of some banks in 2010 during a banking crisis, which... Read More

New core investor takes over Peugeot Nigeria, to inject $150 mln

by on October 21, 2020 0
By Samuel Bankole A new core investor has taken over the country’s pioneer Kaduna-based automaker firm Peugeot Automobile Nigeria (PAN) after many year it was put on sale by the Assets Management Corporation of Nigeria (AMCON). NESBITT Investment Nigeria Limited, which acquired the automobile company took possession of its assets this week with plans... Read More

AMCON lists six prominent Nigerians, firms as ‘notorious’ debtors

by on August 31, 2020 0
By Oludare Mayowa The Assets Management Corporation of Nigeria (AMCON) has released the list of six companies and individuals that are ‘most notorious accounts’ and frustrating its efforts to recover the over N5 trillion outstanding debt owed the corporation. READ ALSO: Egypt Seals $2 Bln Loans With International Financial Institutions The corporation listed Capital... Read More