N1billion debt: AMCON takes over assets of APC chieftain, Ademola Seriki

Following the order of Hon. Justice Chuka Austine Obiozor of the Federal High Court, Lagos, the Asset Management Corporation of Nigeria (AMCON) has taken over two properties belonging to Mr Ademola Seriki, in Lagos and Abuja over an outstanding staggering indebtedness of nearly N1billion. The case between AMCON and Seriki, who was a former Minister of State for Defence as well as a former Supervising Minister for Mines and Steel Development have been lingering for a while now. Ideally, AMCON does not in the first instance resort to the courts…

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National Assembly assures AMCON of support in recovery of over N5.4 trillion debt

The House of Representatives Committee Chairman on Banking and Currency, Hon. Victor Nwokolo has assured Nigerians that the 9th National Assembly would take all necessary measures that would support the Asset Management Corporation of Nigeria (AMCON) in realizing the huge outstanding debt of over N5.4 trillion owed it by obligors before its sunset. Recall that AMCON with the assistance of the 8th National Assembly successfully amended the AMCON Act, which President Muhammadu Buhari signed into law earlier in the year. The amended Act further provided AMCON with additional powers to…

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AMCON MD urges FG to convert Arik as National Carrier

Given the strategic and critical role the aviation sector plays in the development of the economy of any nation, managing director/chief executive officer, Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru has called on the 9th National Assembly to reform the aviation sector, which would help local airline grow and attract many other investors that are denying Nigeria’s huge aviation business opportunity.   Kuru who made the call in Abuja on Monday when he appeared before the Senate Committee on Banking, Insurance and other Financial Institutions led by…

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Debt Recovery: Judiciary will enforce AMCON Amendment Act 2019 – CJN

The Chief Justice of Nigeria (CJN), Hon. Justice Ibrahim Tanko Muhammad has called for the enforcement of the Asset Management Corporation of Nigeria (AMCON) Amendment Act 2019. He stated that a law cannot be effective if such a law is not enforced. Justice Muhammad never faulted the Act, which President Muhammadu Buhari signed into law on August 7, 2019, contrary to certain malicious media reports, which made headlines Wednesday.   Rather, the CJN lent his voice to that of other well-meaning Nigerians in congratulating the management of AMCON, members of the…

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AMCON seeks Judiciary intervention to recover over N5trillion debt

Photo Caption: Sitting L-R: Hon. Justice Adamu Jauro of the Court of Appeal; Mr. Ahmed Kuru, Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON); Hon. Justice Zainab Bulkachuwa CFR, Nigeria’s President of the Court of Appeal; Hon. Justice A.D. Yahaya as well as Hon. Justice T.A. Wilson. Standing L-R: Hon. Justice Idris Buba; Hon. Justice S.J. Adah; Hon. Justice P.O. Ige; Mr Albert Nwanozie, Head, Legal Department, AMCON; Hon. Justice E. Agim; Mr Joshua Ikioda, Group Head, Resolution Strategy, AMCON; Mr Jude Nwauzor, Head, Corporate Communications Department, AMCON;…

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2019 Amended Act: Legal consultant challenges, AMCON, others to recover over N5trillion debt

In what seemed like an x-ray of the newly amended 2019 AMCON Act, which was recently signed into law by President Muhammadu Buhari, a legal consultant and Senior Partner, Olaniwun Ajayi -LP, Mr Muyiwa Balogun has challenged the Asset Management Corporation of Nigeria (AMCON); Asset Management Partners (AMPs) and the Inter-Agency Presidential Committee set up by the federal government to leverage the 2019 Amended AMCON Act, to recover the over N5trillion outstanding AMCON debt before the corporation’s sunset.   Balogun who made a case in support of the 2019 Amendments…

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Judge tells AMCON to stop its debtors from contesting elections In Nigeria

Photo Caption: L-R: Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru; Justice C.M.A. Olatoregun of the Federal High Court and Dr. Francis Chuka Agbu SAN, Lead partner at Lexavier Partners at the one day seminar for AMCON External Solicitors and Asset Management Partners (AMPs) of AMCON at Eko Hotels, Lagos….at the weekend.  Justice C.M.A. Olatoregun of the Federal High Court at the weekend called on the management of AMCON to adopt a new strategy and partner other sister agencies of the government to stop…

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AMCON not recruiting now – Spokesperson

The attention of Asset Management Corporation of Nigeria (AMCON) has been drawn to the continuous activities of impostors and fake news websites that are spreading falsehood regarding “AMCON 2019/2020 Recruitment Exercise.”   To avoid falling into the deadly trap of fraudulent agents, the public is hereby informed that these stories are brazen falsehood, and are meant to mislead innocent job seekers as well as the public as AMCON is not currently recruiting and did not engage any agency whatsoever to recruit on its behalf.   We therefore call on all…

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Kuru condoles with Afenifere leader over daughter’s killing

The managing director/chief executive officer, Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru, has condoled with the National Leader of the Pan Yoruba Socio-political Group, Afenifere, Chief Rueben Fasoranti over the killing of his daughter, Mrs Funke Olakunrin (nee Fasoranti) by yet to be identified murderers. The 58 years old Olakunrin who was killed on Friday at Kajola along the Sagamu – Ore road served the AMCON boss as Company Secretary and Legal Adviser when he was managing director/ CEO of the erstwhile Enterprise Bank Limited. Kuru who…

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AMCON MD commends Super Eagles for Semi-finals qualification

Following the impressive performance of Nigeria’s Super Eagles at the ongoing Africa Cup of Nations (AFCON), the managing director/chief executive officer, Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru, has commended the Super Eagles of Nigeria for qualifying for the Semi-finals.   The Super Eagles who beat arch rivals, South Africa with 2-1 victory in Egypt, qualified for the Semi-finals of the 32nd edition of the tournament where they will now face Algeria in a titanic battle. Algeria beat Ivory Coast on Thursday to set up the epic…

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