National Assembly Will Work With AMCON On Debt Recovery – Nwokolo

Members of the House Committee on Banking and Currency, the executive management and top officials of Asset Management Corporation of Nigeria (AMCON) and the facilitators of the retreat in a group photograph during the retreat in Lagos ——————————————————————————————————————————— Federal House of Representatives Committee Chairman on Banking and Currency, Hon. Victor Nwokolo has assured Nigerians that the 9th National Assembly would take all necessary measures that would support the Asset Management Corporation of Nigeria (AMCON) in realizing the huge outstanding debt of over N5.4trillioon owed it by obligors before its sunset.…

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Toyota Begin Recalling Of 679 Imported Lexus Cars November 16

This is not the best time for the Toyota brand as reports have it that the Japanese automaker, Toyota will begin recalling 679 imported Lexus cars from November 16, 2019 due to defective Pneumatic Rods, according to China’s market regulator. Filed by Toyota Motor (China) Investment Co., the recall will involve Lexus CT200h models manufactured between January 30 and March 12, 2019, the State Administration of Market Regulation was quoted to have said in a statement. Due to defective electroplating process by suppliers, surface of the Pneumatic Rods on the…

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Like Zuckerberg Of Facebook, Twitter CEO, Dorsey Visits Lagos Nigeria

Mr Jack Dorsey, the Co-founder/Chief Executive Officer of Twitter, was at the popular Information Technology Co-Creation Hub (CCHub) in Yaba, Lagos, Friday morning, as part of his tour of four African countries. Dorsey planned to visit Nigeria, Ghana, Ethiopia, and South Africa. He arrived Nigeria Thursday. He had announced via his Twitter handle earlier in October that he was “headed to Africa for all of November- Ethiopia, Ghana, Nigeria, and South Africa; going to spend a lot of time with entrepreneurs.” He twitted “So grateful to finally be in Nigeria,”…

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Inter-Agency Committee On Recovery Of AMCON Debt

DEBT RECOVERY ON THEIR MIND: Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Lawan Kuru (left) in a handshake with the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu during one of the strategic meetings of the Presidential Inter-Agency Committee on the Recovery of AMCON Debt in Abuja….recently

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Use Arik Airline As National Carrier, AMCON MD Tells Federal Government

Given the strategic and critical role the aviation sector plays in the development of the economy of any nation, Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru has called on the 9th National Assembly to reform the aviation sector, which would help local airline grow and attract many other investors that are eying Nigeria’s huge aviation business opportunity. Kuru who made the call in Abuja on Monday when he appeared before the Senate Committee on Banking, Insurance and other Financial Institutions led by Senator…

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Border Closure Aching Economies of Benin, Niger – IMF

The International Monetary Fund (IMF) has said the decision of the Nigerian government to shut its land borders with Benin Republic and Niger had begun to have adverse effects on the economies of both countries. And contrary to report Nigeria has not banned importation of goods from the neighbouring country, but merely insists that all importation from this country must go through proper channels for proper documentation and payment of port charges. Director, African Department, IMF, Abebe Selassie, said this while responding to questions during an interview with journalists at…

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AMCON Poised To Recover Over N5trillion Debt With Judicial Backing – Kuru

L-R: Hon. Justice Zainab Bulkachuwa CFR, Nigeria’s President of the Court of Appeal; Mr. Ahmed Kuru, Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON) and Mr Joshua Ikioda, Group Head, Resolution Strategy, AMCON when the Management of AMCON paid a strategic visit to the President Nigerian Court of Appeal in Abuja…recently ————————————————————————————————————————– Having secured the signing of the Asset Management Corporation of Nigeria (AMCON) (Amendment) Act 2019 into law by President Muhammadu Buhari, Managing Director/Chief Executive Officer of AMCON, Mr. Ahmed Kuru has turned attention to sister agencies…

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GT Releases PAT Of N146.9billion For 2019 Third Quarter

Information just reaching us has it that Guaranty Trust Bank Plc has disclosed a Profit After Tax (PAT) of N146.9 billion in the third quarter of 2019, which represents an increase of 3.3 per cent from N142.2 billion the financial institution recorded in the third quarter of 2018. The deposit Money Bank (DMB) is among the first few Nigerian companies to release their unaudited financial results for the third quarter period, which ended on September 31, 2019. The result shows that the company performed relatively well across all major financial…

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AMCON Debt Can Increase To N6.6trillion By 2024 If Left Unchecked – Says Muyiwa Balogun

A legal consultant and Senior Partner, Olaniwun Ajayi -LP, Mr Muyiwa Balogun has called on Asset Management Corporation of Nigeria (AMCON) and its Asset Management Partners (AMPs) as well as the Inter-Agency Presidential Committee set up by the federal government to leverage the 2019 Amended AMCON Act, which has been signed into law by President Muhammadu Buhari and recover the over N5trillion outstanding AMCON debt before sunset. Balogun who made a case in support of the 2019 Amendments while addressing external solicitors and AMPs of AMCON in Abuja further painted…

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AMCON ₦5trillion Debt Burden: Finance Minister, BPP, ICPC, Others Insist Debtors Must Pay

R-L: Prof. Bolaji Owasanoye, Chairman of Independent Corrupt Practices and Other Related Offences Commission (ICPC); Mr Ahmed Kuru, Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON) and Mr Modibbo Hamman Tukur, Director/Chief Executive Officer, Nigeria Financial Intelligence Unit (NFIU) during one of the meetings of the Inter-Agency Committee set up by the Vice President to recover AMCON debt…in Abuja ——————————————————————————————————————– Minister of Finance, Mrs Zainab Shamsuna Ahmed has charged the management of Asset Management Corporation of Nigeria (AMCON) led by Mr. Ahmed Kuru, Managing Director/Chief Executive Officer to…

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