The Assets Management Corporation of Nigeria (AMCON) has refuted reports making the rounds, that the corporation could take over the Dangote Refinery over debts owed by the Dangote Group to banks.
Some online news platforms had on Tuesday reported that the Dangote Refinery may be forfeited over a $7 billion debt burden owed to commercial banks in the country.
But AMCON has denied ever hatching such plans. According to Mr Jude Nwauzor, the Head of Corporate Communications Department at AMCON, Dangote Refineries was not part of the bad debts that it took over in the different phases of their EBA purchases, and there was no way it would be taking over the assets of the company now.
Said Nwauzor, “Dangote is not an obligor at AMCON. The Dangote Refinery, which is undergoing construction is also not an obligor at AMCON. We (AMCON) are surprised at the level people will go to spew false information. Whatever the intentions of those spreading this fake news are, it is guerilla journalism as far as we are concerned.”
