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AMCON sells 34% stake in Unity Bank to Providus

The Asset Management Corporation of Nigeria has sold its 34 per cent equity stake in Unity Bank Plc to Providus Bank, marking a significant milestone in a long-awaited merger between the two financial institutions. The transaction was completed via a crossed deal involving 4 billion Unity Bank shares at N1.66 per share, amounting to over […]

Nigerians may pay N4trn debt of reckless high-profile persons - AMCON
News

Nigerians may pay N4trn debt of reckless high-profile persons – AMCON

The Asset Management Corporation of Nigeria is facing significant challenges in recovering more than N4 trillion in outstanding debts and has called on the media to help hold debtors accountable. AMCON’s Head of Corporate Communications, Mr. Jude Nwauzor, made this appeal while addressing journalists in Ikeja on Friday, urging the press to play a proactive […]

AMCON’s new DG will improve debt recovery, says commentator
News

AMCON vows to recover N227 billion debt from Arik Air

The Asset Management Corporation of Nigeria has reiterated its commitment to recovering the N227 billion debt owed by Arik Air, while intensifying its efforts to liquidate the airline. This was disclosed in a statement by the agency’s Head of Corporate Communications, Mr. Jude Nwauzor, during an interactive session with aviation journalists in Lagos on Friday, […]

AMCON’s new DG will improve debt recovery, says commentator
News

Deep-pocketed investors to buy Ibadan DisCo – AMCON

The Assets Management Corporation of Nigeria has called for the sale of the Ibadan Electricity Distribution Company to viable investors as the only solution to improve its efficiency. This was disclosed by the Managing Director/CEO of AMCON, Gbenga Alade during an interactive session with media executives in Lagos on Monday, according to The Punch. Alade, […]

News

FG may turn Arik, Aero Contractor to form national carrier

The Asset Management Corporation of Nigeria is exploring the possibility of merging Arik Air and Aero Contractors to create a national carrier. This potential move was disclosed by AMCON’s Managing Director and CEO, Gbenga Alade, during an interactive session with the media in Lagos on Monday, according to The Punch. Alade revealed that both airlines […]

AMCON’s new DG will improve debt recovery, says commentator
News

AMCON not necessary in future – Pioneer MD

The former Managing Director of Assets Management Corporation of Nigeria, Mustapha Chike-Obi, has said the corporation was no longer useful in the banking industry. This was disclosed recently by Chike-Obi in his speech at the BusinessDay Policy Intervention Series with a focus on the banking sector recapitalisation. Chike-Obi explained that AMCON was no longer necessary […]

AMCON’s new DG will improve debt recovery, says commentator
News

Senate confirms Alade as managing director AMCON

The Senate on Tuesday confirmed Gbenga Alade as the Managing Director of the Assets Management Company of Nigeria. This was revealed in a statement, by the Head of Corporate Communications Department of AMCON, Jude Nwauzor, noting that three other executive directors of the agency were also confirmed by the Senate, according to The Punch. Nwauzor, […]

AMCON’s new DG will improve debt recovery, says commentator
Business

AMCON’s new DG will improve debt recovery, says commentator

Melvin Onwubuke     Public commentator, Raheem Ajayi said the new Managing Director of Asset Management Corporation in Nigeria, Gbenga Alade, will improve the organisation’s debt recovery.   Ajayi in a statement, noted that with the appointment of Alade, the government had made a laudable commitment to appoint competent persons in an appropriate position for […]

AMCON’s new DG will improve debt recovery, says commentator
News

AMCON recovers 70% of bad loans worth N4trn

Despite widespread worries about interest rates, the Asset Management Corporation of Nigeria reported that it had successfully recovered more than 70% of the N4 trillion in bad loans from debtors. The Times reported that this was revealed by the MD/CEO of AMCON, Ahmed Kuru, to reporters in Lagos on Monday. “We have recovered so far more than […]

AMCON’s new DG will improve debt recovery, says commentator
Business

350 debtors owe AMCON N3.95tr – MD

The Asset Management firm of Nigeria announced that 350 of its top creditors owe the firm N3.95 trillion.  According to The Nation, the Managing Director, Ahmed Kuru made this statement as he claimed that the judiciary’s assistance was necessary for the debt recovery, which came in the form of cash and asset sales. He was speaking […]

UBA begins $6bn project to support African SMEs
Banking

AMCON sells 900 million UBA shares – Report

A total of 961.5 million shares of UBA were traded on Thursday, July 20th, according to data from the NGX trading session. There are currently 34.1 billion outstanding shares of UBA, with Hiers Holding holding a majority stake of more than 5%. 2.8% of the bank’s outstanding shares total 961.5 million shares. According to sources, […]

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