The Senate on Tuesday confirmed Mr. Gbenga Alade as the Managing Director of Asset Management Corporation of Nigeria (AMCON) based on his nomination by President Bola Tinubu and recommendations by the appropriate committee of the upper legislative chamber. Others that were confirmed by the lawmakers as Executive directors of AMCON were Adeshola Lamidi, Lucky Adaghe […]
Former Managing Director of Asset Management Corporation of Nigeria (AMCON), Mustapha Chike-Obi, at the weekend charged the leaders of the Chartered Institute of Stockbrokers (CIS) to consider the re-opening of discussions on reintroduction of margin lending in the nation’s capital market for its sustainable growth. The asset management expert and banker made a strong case […]
Nairalytics, a leading research firm, has reported that the Asset Management Corporation of Nigeria (AMCON) received a sum of N125.9 billion from 12 commercial banks listed on the Nigerian stock market as part of the Sector Resolution Funds in the first quarter of 2022. The Sector Resolution Fund is part of the requirement of the […]
The Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Aeroland Travels Limited, and its directors over an indebtedness of N1.8 billion. The corporation’s spokesperson, Jude Nwauzor, who disclosed this in a statement on Monday, said the takeover was sequel to the order of Justice D.E. Osiagor of the Federal High Court, […]
A Federal High Court Abuja Division has ordered that the Asset Management Corporation of Nigeria, (AMCON) to continue with the management of NICON Insurance and Nigeria Reinsurance, (Nigeria Re), two companies it took over following the alleged indebtedness of the private investor, Barr. Jimoh Ibrahim. The Federal High Court Abuja Division presided over by Hon. […]
The new Board of the National Insurance Corporation of Nigeria (NICON Insurance) formally took over the reins of power with its maiden Board Meeting at the Corporation’s head office in Abuja held on Monday and solicited employees’ cooperation to grow the risk underwriting company. Addressing some NICON’s management staff, led by the Deputy General Manager […]
The Nigeria Deposit Insurance Corporation (NDIC) has solicited the support of the Ministry of the Federal Capital Territory (FCT) in the realisation of landed properties of banks in-liquidation within the FCT to enable it pay depositors of affected closed banks. The Director, Communication & Public Affairs Department of the corporation, Mallam Bashir Nuhu, quoted the […]
The Senate on Tuesday considered a bill seeking to empower the Asset Management Corporation of Nigeria (AMCON) on assets recovery and strengthen it against economic sabotage by debtors with unpaid loans to the tune of about N16 trillion. Specifically, the AMCON Amendment Bill 2021, which scaled second reading on the floor, was sponsored by Senator […]
Consequent upon the order of Honourable Justice R.M. Aikawa of the Federal High Court, Lagos Division, the Asset Management Corporation of Nigeria (AMCON) on Wednesday took possession of 12 assets belonging to Barrister Jimoh Ibrahim, the chief promoter of Global Fleet Oil & Gas Limited and NICON Investment Limited in Lagos and Abuja over N69.4 […]
The Chairman of the House of Representatives Committee on Banking and Currency, Hon. Jones Onyereri, on Tuesday promised that the lower Legislative chamber would within the next one or two weeks present the Asset Management Corporation of Nigeria (AMCON) Amendment Bill before the Plenary Session of the House for final deliberations. The amendment bill is […]