THE Special Offences Court sitting in Ikeja, Lagos, on Tuesday admitted a former Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, to bail in the sum of N50m with two sureties. The court also convicted and wound up a company, Sigma Golf Nigeria Limited and ordered the forfeiture to the … Read more
Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos, on Thursday, December 12, 2024, adjourned till January 20, 2025 the arraignment of a former Managing Director of Assets Management Corporation of Nigeria AMCON, Ahmed Kuru, for an alleged N76bn and $31.5 million fraud. Kuru is to be arraigned in court alongside … Read more
ASSET Management Corporation of Nigeria (AMCON) says its intervention pushed back Aero Contractors to profitability following its takeover of the management of the airline in 2016. The incumbent Managing Director of Aero Contractors said recently that the airline achieved a significant financial turnaround, reducing its liabilities by 33 per cent and recording an 18 … Read more
THE Economic and Financial Crimes Commission, EFCC and Asset Management Company of Nigeria, AMCON have made fresh moves to strengthen their working relationship towards improved asset recovery and management. These moves were made in Abuja on Thursday, June 6, 2024, when AMCON’s management, led by its Managing Director and Chief Executive Officer, Mr. Gbenga Alade … Read more
THE Federal Government has disclosed plans to sell off the five electricity Distribution Companies (DisCos) managed by some banks and Asset Management Company (AMCON) to technical power operators, by July 2024. Adebayo Adelabu, the minister of power disclosed this in Abuja on Monday during an oversight visit of the Senate Committee on Power to the ministry. … Read more