TAG: AMCON NEWS

Gateway Portland Cement is the latest company taken over by AMCON      

Gateway Portland Cement is the latest company taken over by AMCON      

The Asset Management Company of Nigeria (AMCON)’s take over train seems to be on the move and this time it has stopped at Gateway...


AMCON CEO, Kuru, admits failure to recover debts and meet its obligations to CBN

AMCON CEO, Kuru, admits failure to recover debts and meet its obligations to CBN

The Managing Director and Chief Executive Officer of AMCON, Ahmed Kuru has admitted that the corporation which he heads has failed in its recent...


All the major economic news from Nigeria in 5 minutes – 17/7/2017

All the major economic news from Nigeria in 5 minutes – 17/7/2017

Summary of the top business, economic and political news in Nigeria today.   The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, has...



All the major economic news from Nigeria in 5 minutes – 20/6/2017

All the major economic news from Nigeria in 5 minutes – 20/6/2017

Summary of the top business, economic and political news in Nigeria today.   The federal government has unveiled the ownership structure of the modular...


All the major economic news from Nigeria in 5 minutes – 12/6/2017

All the major economic news from Nigeria in 5 minutes – 12/6/2017

Summary of the top business, economic and political news in Nigeria today   Acting president, Yemi Osinbajo has signed the 2017 spending plan into...


Reports suggest Ethiopia Air may soon run Arik

Reports suggest Ethiopia Air may soon run Arik

Reports from Nigeria’s local newspaper, Thisday suggest Ethiopian Airlines is in advanced negotiations with the Asset Management Company of Nigeria to take over nationalised...


All the major economic news from Nigeria in 5 minutes – 09/6/2017

All the major economic news from Nigeria in 5 minutes – 09/6/2017

Summary of the top business, economic and political news in Nigeria today. Despite the economic recession, which led to massive loss of jobs in...


AMCON made a N254 billion loss in 2016

AMCON made a N254 billion loss in 2016

MD of the bad bank Mohammed Kuru said the possibilities of an AMCON II were unlikely. Kuru was of the opinion that doing so,...


Arik debts may be more than N375 billion

Arik debts may be more than N375 billion

Auditors to Arik air, have discovered that the company’s debt may be more than the previously stated figure of N375 billion as they provide the...


Why Dangote wants the Peugeot Assembly plant.

Why Dangote wants the Peugeot Assembly plant.

Aliko Dangote, may be expanding his empire into car assembly, if the Central Bank of Nigeria (CBN) gives the Asset Management Company of Nigeria...


Why Dangote’s potential acquisition of PAN is strategic

Why Dangote’s potential acquisition of PAN is strategic

The Asset Management Company of Nigeria (AMCON) has announced that it is awaiting CBN’s approval to sell the Peugeot Automobile Nigeria (PAN) Ltd to...


Amcon’s reasons for taking over Wokson International

Amcon’s reasons for taking over Wokson International

Nairametrics| The Asset Management Corporation of Nigeria (AMCON) on Friday took over the assets of Woksons International and its owner. This followed a court...


A proposal is in place to merge Arik and Aero into a new national carrier

A proposal is in place to merge Arik and Aero into a new national carrier

Nairametrics| The Federal government may have decided to merge Arik and Aero in order to create the new national carrier. Here is what we...


Why Sigma-Riverbank Is Upgrading Keystone’s Branches

Why Sigma-Riverbank Is Upgrading Keystone’s Branches

Nairametrics|Sigma-Riverbank consortium which recently acquired Keystone Bank has embarked on an upgrade of the bank’s branches. Here’s the banks comment on the upgrade: The...


Why Private Equity Firms Are Interested In Nigerian Aviation

Why Private Equity Firms Are Interested In Nigerian Aviation

Nairametrics| Finance minister, Kemi Adeosun on a recent trip to Washington stated that some private equity investors, were interested in taking over Arik and Aerocontractors....


Chasing Failed Bank Executives Too Late Is Futile

Chasing Failed Bank Executives Too Late Is Futile

Nairametrics| An inter agency task force in charge of investigating failed financial institutions has said it will commence moves to rearrest individuals that were indicted...


Analysis: Look Deeper, It Goes Beyond Arik

Analysis: Look Deeper, It Goes Beyond Arik

Nairametrics| The Asset Management Company Of Nigeria (AMCON) yesterday took over three other companies belonging to Joseph Arumemi Johnson, founder of Arik Air Limited....


Reports: Arik Owes A Whopping ‘N387 billion’ And These 2 Banks Are Listed As Creditors

Reports: Arik Owes A Whopping ‘N387 billion’ And These 2 Banks Are Listed As Creditors

Nairametrics| Nigeria’s nationalised airline, Arik is said to owe creditors a whopping N387 billion. According to reports from Leadership, Arik Accumulated N387bn debt Before FG...


CBN: Three Banks Failed Capital Adequacy Test

CBN: Three Banks Failed Capital Adequacy Test

Nairametrics| The Financial Stability Report released by the Central Bank of Nigeria for December 2016 revealed that three banks in the country failed a...


Rep Member Wants Government To Deduct At Source Money Owed To AMCON By Contractors

Rep Member Wants Government To Deduct At Source Money Owed To AMCON By Contractors

What does this mean for Aero and...


Why Union Bank Wants To Raise Capital

Why Union Bank Wants To Raise Capital

Nairametrics| Tier 2 lender, Union Bank intends to raise the sum of N50 billion Naira in the second quarter of 2017. The new funds...


Analysis: Capital Oil Needs Restructuring

Analysis: Capital Oil Needs Restructuring

Nairametrics| Unconfirmed reports reveal that the MD/CEO of Capital Oil and Gas, Mr. Ifeanyi Ubah, has been arrested by officials of the Department of...


In Amcon Distressed Companies Have A Companion

In Amcon Distressed Companies Have A Companion

Nairametrics|The Asset Management Company of Nigeria (AMCON) has revealed that Arik Air and AeroContractors both failed because of bad corporate governance. AMCON took over...


Why The Odds Are Against The New Owners Of Keystone Bank

Why The Odds Are Against The New Owners Of Keystone Bank

Nairametrics| Keystone Bank’s new owners Sigma Gulf-Riverbank consortium at the weekend took over the bank from the Asset Management Company of Nigeria (AMCON). They...


Deal: Sigma Golf Acquires Keystone Bank; What We Know So Far

Deal: Sigma Golf Acquires Keystone Bank; What We Know So Far

Nairametrics| The Asset Management Corporation of Nigeria has announced the sale of Keystone Bank Plc (formerly Bank PHB). The bank was sold to Sigma Golf...


Air Peace Needs To Grow Slowly

Air Peace Needs To Grow Slowly

Nairametrics|Air Peace, one of the few surviving airlines in the country, which currently flies to Accra, Ghana, has disclosed that it will be expanding...


The AMCON Pill Is Bitter: Aerocontractors Sacks 900 Staff

The AMCON Pill Is Bitter: Aerocontractors Sacks 900 Staff

Nairametrics| One year after the Asset Management Company of Nigeria (AMCON) intervened in the affairs of Aero Contractors Company of Nigeria, it seems to...


Rumble In Ibru Family Over Estate

Rumble In Ibru Family Over Estate

Barely six months after patriarch of the Ibru clan and billionaire, Michael Ibru passed on, peace seems to have eluded the Ibru family. Multiple...


Stage 2: Medview Air To Hold IPO In Three Months

Nairametrics| Newly listed company on the Nigerian Stock Exchange (NSE), Medview Air will be having an Initial Public Offer (IPO) in three months time. ...


Latest List Of Reasons Why Arik Was Taken Over Is Dire

Latest List Of Reasons Why Arik Was Taken Over Is Dire

Surely, there's no more doubt...