amcon

The Group Chairman of NICON Investment Limited, Mr. Jimoh Ibrahim, said yesterday that nobody in Nigeria can seize his properties. A Federal High Court sitting in Lagos had earlier given Assets Management Company of Nigeria, AMCON, an interim judgement to take over his firms over N50...

The Federal Government has set up an inter-agency committee on the recovery of loans granted to commercial banks and corporate organisations by Asset Management Corporation of Nigeria (AMCON). The committee headed by the Minister of Justice and Attorney General of the Federation (AGF)...

The Economic and Financial Crimes Commission (EFCC), yesterday, shut down a tank farm belonging to Obat Oil and Petroleum Limited at Kirikiri, Lagos, for alleged diversion of subsidy payment. Petrocam Trading Nigeria Limited had reported Obat Oil to EFCC for allegedly diverting N1.2 billion...

Nigeria's state-backed "bad bank", the Asset Management Corporation of Nigeria (AMCON) on Tuesday announced that it plans to sell its majority stake in Peugeot Automobile Nigeria (PAN) Limited, a local joint venture with the major French automaker, and is seeking bids from investors. In a...

Despite the Federal Government’s using a crude oil price benchmark of N38 for its 2016 proposed budget, an economic crisis looms. This is because by yesterday, the oil price continued to plummet, falling below $37 per barrel and international Brent crashing to below $40 for the first time since...