AMCON – InfoStride News

AMCON Sells 2.29% Stake in Fidelity Bank Amid Capital Market Shifts

Temitope Nlewemchi — Sun, 20 Jul 2025 11:38:43 +0000

The Asset Management Corporation of Nigeria (AMCON) has divested a significant portion of its equity in Fidelity Bank Plc, selling approximately 1.14 billion shares, which represents 2.29 percent of the bank’s total outstanding shares. The transaction, executed through an off-market block deal, marks a strategic move by the government-owned asset recovery agency as it continues [...]

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Leadership Reshuffle: Tinubu Appoints New CEO for AMCON and Welcomes 13 Directors Across Agencies

Temitope Nlewemchi — Fri, 23 Feb 2024 21:24:46 +0000

In a strategic move aimed at reshaping leadership within key financial institutions, Asiwaju Bola Ahmed Tinubu has announced the appointment of a new CEO for the Asset Management Corporation of Nigeria (AMCON) and the induction of 13 directors across various agencies. This leadership reshuffle reflects a commitment to driving organizational excellence and advancing the objectives [...]

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Court issues one month ultimatum for Adamawa govt to pay back N84 million debt owed AMCON

Temitope Nlewemchi — Sat, 11 Dec 2021 10:34:56 +0000

An Abuja division of the federal high court has threatened to freeze Adamawa State Government’s accounts over its refusal to pay back N84 million debt it borrowed from the Asset Management Corporation of Nigeria (AMCON) six years ago. While AMCON is the plaintiff/claimant, the Governor of Adamawa State, the attorney general of the state, the [...]

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President Muhammadu Buhari Presents AMCON Nominees To The Senate

Adebimpe A. — Tue, 08 Dec 2020 16:33:29 +0000

The President of the Federal Republic of Nigeria, President Muhammadu Buhari has reportedly renominated Mr Ahmed Kuru and Mr Eberechukwu Uneze as Managing Directors and Executive Director of Asset Management Corporation of Nigeria respectively. This was disclosed by the spokesperson to President Muhammad Buhari in a post. The renomination which is for the final term [...]

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AMCON Is A Drain On Nigeria’s Economy ― Senate

David Folami — Sat, 23 Nov 2019 13:30:30 +0000

The Senate Committee on Banking, Insurance and other Financial Institutions has revealed that Assets Management Company of Nigeria, which was launched by the government to buy back bad debts by banks is now a drain on Nigeria’s economy. According to the committee, something has to be done to change this. In a recent statement issued [...]

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AMCON Debtors Will Not Be Allowed To Walk Freely In Nigeria – Yemi Osinbajo

David Folami — Mon, 13 May 2019 19:33:16 +0000

Vice President, Yemi Osinbajo has disclosed that FG will ensure people and organisations that made the list of high-profile debtors of Asset Management Corporation of Nigeria (AMCON) are dealt with mercilessly. He revealed that they are responsible for the corporation not resolving its outstanding N5trillion debt and they have held Nigeria to ransom due to [...]

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Asset Recovery: EFCC reitrates Commitment to Support AMCON

Kunle Edun — Sat, 05 Aug 2017 00:13:28 +0000

The Economic and Financial Crimes Commission (EFCC) has reiterated its commitment to Asset Management Corporation of Nigeria (AMCON), in its drive to recover toxic assets and boost for the nation’s economy. The Acting Chairman of the Commission, Ibrahim Magu delivered the pledge on Thursday, August 3, 2017 while playing host to Ahmed Lawan Kuru, Managing Director, [...]

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Radical Lawyer Claims Sahara Reporters Lied Against Him

Ade Adewale — Tue, 25 Oct 2016 15:55:31 +0000

A radical lawyer, Prince Ajibola Oluyede, has denied being involved in any unprofessional conduct, contrary to the report of an online publication, Sahara Reporters. In a statement he issued today in Lagos, Oluyede said, “Sahara reporters and its Nigerian proprietor, Omoyele Sowore, lack integrity. “This online bugging rag, feeding on grants it obtains by false [...]

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Nobody In Nigeria Can Seize My Property – Jimoh Ibrahim

David Folami — Wed, 22 Jun 2016 19:19:13 +0000

The Group Chairman of NICON Investment Limited, Jimoh Ibrahim has said that nobody in Nigeria can seize any of his properties. Ibrahim made the comment in response to claims by the Assets Management Company of Nigeria (AMCON) that it had secured a court order permitting it to seize Jimoh’s property to satisfy a N50 billion [...]

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President Buhari Seeks Senate’s Approval For AMCON, FIRS, NCC Chairmen

Wale Adebayo — Wed, 30 Sep 2015 13:26:47 +0000

Nigeria Senate today received communications from President Muhammadu Buhari (PMB), requesting confirmation of the appointments of Mr. Babatunde Fowler as Executive Chairman of the Federal Inland Revenue Service (FIRS). The Senate also received a request for approval of Alhaji Umaru Danbata as the Executive Vice Chairman of the Nigerian Communication Commission (NCC). Similarly, the name of [...]

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