amcon

The Digest: The Asset Management Corporation of Nigeria (AMCON) has announced the sale of its 60 percent stake in the Ibadan Electricity Distribution Company (IBEDC) for N100 billion. This crucial divestment, part of the Federal Government's plan to sell five power distribution companies under...

The Digest: The Asset Management Corporation of Nigeria (AMCON) has listed Silverbird’s flagship Abuja Mall for auction, escalating a decade-long battle to recover a N10 billion debt from Senator Ben Murray-Bruce’s entertainment empire. Key Points: The Abuja Mall, a prime commercial...

Communities can now view what was allegedly built with their stolen resources. Premium Times reports that the Economic and Financial Crimes Commission transferred multiple properties linked to ex-Governor Chimaroke Nnamani's company, Rainbownet Nigeria Ltd, to AMCON. These bungalows, duplexes...

Personal relationships can reshape million-dollar business decisions in unexpected ways. Ch-Aviation reports that former Union Bank executive director Austine Obigwe testified in Lagos court about writing off $2.3 million owed by Arik Air to his private company. This revelation emerged during...

The Federal Government has officially directed the Asset Management Corporation of Nigeria (AMCON) to begin a credible and time-bound shutdown process, marking a major shift in Nigeria’s financial cleanup efforts. Finance Minister Wale Edun inaugurated AMCON’s new board this week in Abuja. The...