Proposed new entity has nothing to do with rebranding of any airline -AMCON

The Asset Management Corporation of Nigeria (AMCON) has said that its new aviation independent entity has nothing to do with rebranding of any airline, but rather exploring new options. AMCON in a statement signed by Jude Nwauzor, head, Corporate Communications Department explained that it is a public knowledge that it had approached the aviation authorities in the country seeking a licence for an independent entity where all of its aviation assets would be transferred and efficiently managed in a synergetic manner. Nwauzor noted that the development is following its mandate…

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AMCON takes over assets of Doggi Group Limited in Asokoro, Katampe Hills Abuja over N440million debt

Following the order of Honourable Justice A.I. Chikere of the Federal High Court, Abuja division, the Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Alhaji Umaru Baba Abdullahi, the Chief Promoter of Doggi Group Limited over an indebtedness of over N440million. Justice Chikere gave the order on June 5, 2020. In compliance to the enforcement order, AMCON on Thursday June 18, 2020 took effective possession of the two properties through its Receiver – Mrs. Juliet Benson of Benson Reeds Legal Practitioners, which include properties situate at…

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Nigerian Braiding Manufacturers Limited to continue operations– AMCON

The Asset Management Corporation of Nigeria (AMCON) has said the Nigerian Braiding Manufacturers Limited (NBML), a Kano State-based textile company, NBML will continue its operations. This is contrary to reports regarding the fate of the company recently taken over by AMCON as a result of the Company’s Non-Performing Loans purchased from the Banks by the Government agency. The textile company’s indebtedness to the Corporation currently stands at over One billion naira. This is despite numerous overtures by AMCON for amicable resolution of the debt to which the Company and its…

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AMCON dismisses reports on debt profile of Nwankwo Kanu’s Hardley Apartments as inaccurate

The Asset Management Corporation of Nigeria (AMCON) has dismissed media reports on the debt profile of Nwankwo Kanu’s Hardley Apartments, describing the reports as inaccurate stories that are sponsored and published in the media to mislead the public and whip up sentiments for former Super Eagles player, Mr. Nwankwo Kanu.   A statement signed by Mr. Jude Nwauzor, Head, Corporate Communications, the Corporation was quoted to have said, “AMCON is not in the habit of joining issues with obligors on the pages of the newspapers especially when the matter is…

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