Tag: AMCON

Appeal Court’s Justice Dongban-Mensem Loses Son

Aliyu Aliyu

President of the Court of Appeal, Justice Monica Dongban-Mensem, has lost her son, Prince Paeke Dongban. Platforms Africa reports that the Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru, who announced this, hcondoled with the Jurist. READ ALSO: Vehicle Crushes Five Ogun Motorcyclists, Kills Three JUST IN: Top Aide To Lagos Gov Dies In Auto Crash School Proprietor Sentenced To Death For Kidnapping, Killing Pupil Nigeria’s Top Petroleum Engr., Dr. Saka Matemilola, Is New Olowu of Owu Kuru’s condolence message to Honourable Justice Dongban-Mensem,…

Read More

How IEDM Default in Polaris Bank Loan Caused Asset Takeover in IBEDC, 25 Banks – AMCON

Aliyu Aliyu

The Asset Man­agement Corpo­ration of Nigeria (AMCON) has given details of how it ex­ecuted the takeover of Integrated Energy Dis­tribution and Marketing (IEDM) Limited, the core investor of Ibadan Elec­tricity Distribution Com­pany (IBEDC), following a default in a loan servicing agree­ment executed with Polar­is Bank. Platforms Africa reports that the agency conveyed the change of baton in the electricity firm in a public notice, where it also disclosed that it had appointed Mr. Osayaba Giwa-Osagie (SAN) to take over the entire undertak­ings, assets of IEDM in­cluding shares and inter­ests in…

Read More

N4.4tn Debt: 7,912 Nigerian Big Men, Firms To Lose Oil Asset, Estate

ADEOLA YUSUF

AMCON publishes names of debtors as deadline expires today, Wednesday, January 5 Fear has gripped 7,912 Nigerian Big Men and companies that are owing N4.4 trillion as they may lose valuable assets and business status aoon. Platforms Africa reports that the assets include oil installations, expensive cars, and mansions and estates in choiced areas of the country. The Asset Management Corporation of Nigeria is set, according to a report by Punch, to publish the names of all 7,912 debtors owing it a total of N4.4trillion. READ ALSO:Polaris Bank, Pan Ocean’s…

Read More

Oil workers Threaten To Shut Down Pan Ocean Facilities in Nigeria

Efe Wellington

  The National Union of Petroleum and Natural Gas (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) have threatened to shut oil facilities in Edo and Delta States operated by Pan Ocean Oil Limited. Pan Ocean Oil Limited was recently acquired by Asset Management Company of Nigeria (AMCON). The oil workers vowed to shut down the operations of the company by Monday midnight following the non-payment of their severance benefits to them. According to the aggrieved workers, the decision to disrupt oil production is to…

Read More