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AMCON NEWS
News and analysis about AMCON
The Federal High Court, Abuja froze the bank accounts of the Medical and Health Workers Union Kankara branch, following its debts owed Access bank
The Asset Management Corporation of Nigeria(AMCON) has sought permission from the Federal High Court sitting in Abuja to...
The Federal High Court sitting in Abuja has ordered the Asset Management Corporation of Nigeria(AMCON) to claim ₦478 million against Perfect Aims Global Engineering Limited and others over their failure to pay outstanding debts in their loan agreement with Keystone Bank (defunct Platinum Habib Bank Plc) since September 2016.
AMCON has said that it is struggling to recover the N2.2 trillion it injected into banks without any collateral.
Asset Management Corporation of Nigeria (AMCON) has claimed that the three companies owned by the founder of Arik Air, Sir. Johnson Arumemi-Ikhide owed it a total of N400 billion in debts before the takeover.
As the controversies continue to trail the impact of Asset Management Corporation of Nigeria (AMCON) in the Nigerian aviation industry, the immediate President of Aviation Round Table (ART), Dr. Gabriel Olowo has described the corporation’s performance in the aviation industry as suicidal.
The management of Aero Contractors, one of the two indigenous airlines under the receivership of Asset Management Corporation of Nigeria (AMCON) has been accused of mismanagement of the airline’s meager resources.
Shareholders of Arik Air have debunked the claim by AMCON) that it was indebted to lessors and financial institutions.
The Assets Management Corporation of Nigeria (AMCON) has advised Arik Air’s Chairman, Johnson Arumemi-Ikide, to devise a plan for debt recovery if he wishes to regain ownership of the airline.
AMCON revealed that it has successfully recovered more than 70 percent of the N4 trillion in bad debts from debtors.
NAAPE has called on the Asset Management Corporation of Nigeria (AMCON) to continue to execute its interventionist strategy in Arik Air, which would ensure the survival of the troubled carrier.
Arik Air shareholders have disputed AMCON's claim of high debt exposure, stating it was less than 5% of the airline's value before the takeover.