AMCON injected ₦50billion to stabilise aviation, urges FG to bailout sector over covid-19

Asset Management Corporation of Nigeria (AMCON) said it has injected around N50billion into the aviation sector solely to stabilize airline operations in the country between 2012 and 2020. This was disclosed on Wednesday by Mr. Aminu Ismail, the executive director, Operations at AMCON. He said AMCON’s intervention led to the purchase of about $1 billion Non-Performing Loans (NPL’s) from Nigerian banks owed by major Nigerian airlines including Aero Contractors, Arik Air amongst others. Although the aviation sector accounts for around 8 per cent of AMCON’s restructuring portfolio, Ismail explained that…

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AMCON MD honoured with Businessday Excellence award in Public Service

Photo Caption: Head, Corporate Communications, Asset Management Corporation of Nigeria (AMCON); Mr. Jude Nwauzor, receiving on behalf of AMCON MD/CEO the Businessday Excellence In Public Service Award 2018 from Alhaji Umaru Abdul Mutalab, the former Chairman of First Bank at the event at the Shehu Musa Yar’Adua Centre, Abuja The managing director/chief executive officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Lawan Kuru has been honoured with Businessday Excellence In Public Service Awards 2018. The AMCON boss was one of the 16 public and civil servants that were recognized…

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