amcon

  1. AMCON Sells 60% Stake in Ibadan DisCo for N100bn Amidst Legal Battle

    Nigeria AMCON Sells 60% Stake in Ibadan DisCo for N100bn Amidst Legal Battle

    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...
  2. AMCON Lists Silverbird's Abuja Mall for Sale Over Murray-Bruce's N10bn Debt.

    Nigeria AMCON Lists Silverbird's Abuja Mall for Sale Over Murray-Bruce's N10bn Debt.

    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...
  3. Stolen futures on display: EFCC Hands Over Properties Linked to Ex-Gov Nnamani in Enugu

    Nigeria Stolen futures on display: EFCC Hands Over Properties Linked to Ex-Gov Nnamani in Enugu

    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...
  4. Friends above finance: Ex-Union Bank Executive Wrote Off $2.3m Arik Air Debt

    Nigeria Friends above finance: Ex-Union Bank Executive Wrote Off $2.3m Arik Air Debt

    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...
  5. AMCON’s Final Chapter: FG Instructs Asset Recovery, Time-Bound Closure

    Nigeria AMCON’s Final Chapter: FG Instructs Asset Recovery, Time-Bound Closure

    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...
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