N5TRILLION AMCON DEBT: IGP TO DIRECT ALL SENIOR OFFICERS TO SUPPORT RECOVERY DRIVE

The Inspector General of Police (IGP) Mr Usman Alkali Baba has declared that the Asset Management Corporation of Nigeria (AMCON) needs the collaboration of all Assistant Inspector-Generals of Police (AIGs) as well as the Commissioners of Police (CPs) in the 36 states of the federation in its debt recovery drive, which is now at very critical stage of enforcements. The IGP made the declaration in his office in Abuja on Tuesday when the Managing Director/Chief Executive Officer of AMCON Mr Ahmed Lawan Kuru and some top officials of AMCON paid…

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AMCON: LEGAL EXPERT CALLS FOR NATIONAL POLICY ON DEBT RECOVERY

The Federal Government has been challenged to expand the laws that granted the Asset Management Corporation of Nigeria (AMCON) special debt recovery powers in the AMCON Act as amended into a national law that would insulate the banking sector against reckless borrowers and recalcitrant debtors that AMCON is currently chasing for the recovery of trillions of Naira. The Federal Government debt recovery agency, which has since inception in 2010 recovered over N1.4trillion had at different phases from the year of its establishment purchased 12,743 NPLs or Eligible Bank Assets (EBAs)…

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AMCON VS JIMOH IBRAHIM & OTHERS: AMCON STILL IN CHARGE AS COURT ADJOURNS TILL SEPT. 8

Irrespective of the false narrative spreading on social media, Hon. Justice A. R. Mohammed of Federal High Court Abuja Division on Monday ordered the Asset Management Corporation of Nigeria (AMCON); NICON Insurance Limited, Nigeria Reinsurance (Nigeria Re) and Barrister Jimoh Ibrahim to maintain the status-quo-ante until September 8, 2021, when the court will hear all pending applications in the matter. Jimoh Ibrahim’s current indebtedness to AMCON stands at nearly N70billion. The matter between Barrister Jimoh Ibrahim and AMCON has been interminable since the loan was purchased by the government debt…

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AMCON RUBBISHES CLAIMS THAT IT DISOBEYED COURT ORDERS; SETS RECORDS STRAIGHT ON VICTORY PARK ESTATE PROPERTY

The attention of Asset Management Corporation of Nigeria (AMCON) has been drawn to a purported press conference the was scheduled to hold at 10:00a.m. at Westwood Hotel Ikoyi, Lagos State by the so-called Association of Victory Park Estate Land Owners. There was an earlier publication captioned “Businessman Recovers Lekki Property from ‘Trespasser” (“the Publication”) published on the ThisDay newspaper website (www.thisdaylive.com) on April 12, 2021, which received attention on social media where allegations were made by one Ojumetor Agha of Pistis Partners LLP, legal practitioner to Mr Adedayo Mumini-Shittu, against…

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PEACE HOTEL BOSS SEEKS SENATE INTERVENTION AS AMCON MOVES TO TAKE OVER BUSINESS ILLEGALLY

The CEO Peace Global Satellite Communication, Barrister U. Oreye has called on the Senate Committee on Banking, Insurance and other Financial Institutions to call AMCON to order as the said body is planning to illegally hijack his Peace Hotels Limited, located at Omole, Ikeja, Lagos from him. Information reaching us claimed that just when an Abuja Federal High Court is set to deliver Ruling on 24/11/2020, the motion brought before it by Peace Global Satellite Communication over an ex-parte order secured by AMCON, the AMCON Receiver is said to be…

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