N5trillion AMCON debt: IGP directs all AIGs, CPs to support recovery drive​

PHOTO CAPTION: L-R: Mr Sa’ad Ahmed, Head, Inter-Governmental Department, Asset Management Corporation of Nigeria (AMCON); Mr Jude Nwauzor, the Corporation’s Head of Corporate Communications Department; Mr Baba Tijjani, DIG Operations, Force Headquarters Abuja; Mr Albert Nwanozie, Head, Legal Department, AMCON; Mr Usman Alkali Baba, the Inspector General of Police (IGP); Mr Ahmed Kuru, Managing Director/Chief Executive Officer, AMCON); Mr Zanna M. Ibrahim DIG Logistics & Supplies, Force Headquarters; Mr Aliyu Kalgo from the office of AMCON MD and Mr Usman Abubarkar, Head, Enforcement, AMCON in a group photograph at the…

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Kuru harps on strategic importance of AMP Scheme to AMCON’s recovery of N5trillion debt

The Asset Management Corporation of Nigeria (AMCON) Managing Director/Chief Executive Officer, Mr Ahmed Kuru attested to the efficacy of the processes of receivership and winding up procedures as amended in the 2019 AMCON Act, which President Muhammadu Buhari signed into law last year.   He called on Asset Management Partners (AMPs) of the Corporation to leverage those provisions among other potent aspects of the Act to rave up recoveries. Even as its sunset draws near with each passing year, AMCON is still heavily burdened by over N5trillion, which is yet…

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AMCON CEO condoles Buhari, says Abba Kyari was courageous, patriotic Nigerian

The managing director/chief executive officer, Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru has written to condole President Muhammadu Buhari , over the death of his friend and Chief of Staff, Mallam Abba Kyari. The Chief of Staff died in Lagos on Friday April 17, 2020 as a result of complications from the dreaded Coronavirus (COVID-19) pandemic, which is ravaging countries of the world, including Nigeria.   Kuru, who was appointed AMCON boss by the President in 2015 shortly after President Buhari won election as Nigeria’s president for the first…

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AMCON takes over Olajide Omokore’s Cedar Oil & Gas Limited over ₦29billion debt

Hon. Justice C.J. Aneke of the Federal High Court Lagos Division has granted an injunction against Cedar Oil & Gas Exploration and Production Limited on the application of Asset Management Corporation of Nigeria (AMCON). The order therefore mandates AMCON to take over the assets of the firms over a staggering indebtedness of ₦29billion. In compliance with the court order, AMCON has formally and successfully taken possession of all the assets of Cedar Oil & Gas Exploration and Production Limited promoted by Mr Olajide Omokore and others as ordered by the…

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AMCON recovers 61% of EBA purchase price as Senate backs speedy recovery

The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani, has declared that the Senate of the Federal Republic of Nigeria under the leadership of current Senate President, Ahmed Lawan will join forces with the executive arm of government to wedge serious and sustained war against obligors of Management of Asset Management Corporation of Nigeria (AMCON), whom he described as economic saboteurs who must be made to repay the over N5trillion outstanding debt owed the corporation. In a related development, Ahmed Lawan Kuru, the managing director/CEO,…

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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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AMCON, CBN win NSITF compliance award  

Photo Caption: Executive Director, Asset management Corporation of Nigeria (AMCON) Mr. Aminu Ismail (2nd left) presenting the NSITF compliance awards to AMCON Managing Director/Chief Executive Officer, Mr. Ahmed Kuru (2nd right); with them are AMCON Company Secretary/Legal Adviser, Mr. Saidu Jallo (right) and AMCON Group Head, Resolution, Mr. Jushua Ikioda (left) when the AMCON boss received the award in Abuja on Friday.    The managing director/chief executive officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Lawan Kuru (ALK) at the weekend officially received the award plaque, presented to the…

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Senate backs AMCON’s plan to publish debtors List

Photo caption L-R: Senator Samuel Nnaemeka Anyanwu, Vice Chairman, Senate Committee on Banking, Insurance and other Financial Institutions; Chairman of the Senate Committee, Senator Rafiu Adebayo Ibrahim and Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru discussing during the Senate Committee retreat on the Amendment of the AMCON Act at the Intercontinental Hotel, Lagos on….Thursday The Chairman Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Adebayo Ibrahim, has said that Nigeria can be made great again, if the legislature as a matter…

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