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Court sets aside order seizing Jimoh Ibrahim’s assets over ‘N69.4 billion debt’

Justice Okon Abang of a Federal High Court in Abuja on Monday set aside his order made on January 4, directing the Asset Management Corporation of Nigeria (AMCON) to take over the assets belonging to a businessman, Jimoh Ibrahim, over alleged N69.4 billion debt.

Jimoh Ibrahim wins bid to recover seized assets

The Federal High Court, Abuja, on Monday, set aside the interim order through which the Asset Management Corporation of Nigeria (AMCON) seized property belonging to a businessman, Jimoh Ibrahim, for an alleged N69.4 billion debt.
A lawyer walks through the compound at the Federal High Court in Ikoyi district in Lagos, Nigeria, May 8, 2018. REUTERS/Akintunde Akinleye

Court orders AMCON to unfreeze NCC director’s, others bank accounts

Justice Muslim Sule Hassan of the Federal High Court in Lagos has set aside an ex-parte order freezing the bank accounts of a member of the Board of the Nigerian Communications Commission (NCC), Mr. Clement Omeiza Baiye, and two others companies, Verity Communications Limited and Verity Associates Limited.

Jimoh Ibrahim loses bid to recover assets seized by AMCON

A Lagos Division of the Federal High Court has declined an application to vacate an interim order used by the Asset Management Corporation of Nigeria (AMCON) to seize properties belonging to billionaire businessman, Jimoh Ibrahim, for an alleged N69.4 billion debt.

Lekki estate landlords sue AMCON over ‘disregard’ for court orders

Residents and landlords of Victory Park Estate, Lekki, Lagos State, have accused the Asset Management Corporation of Nigeria AMCON, of harassment over their property despite pending court cases and orders.
This sudden world applause is due to the delivery of the first of the 13 brand new Embraer E195-E2 Nigerian Air Peace airline placed order for in April 2019 at the Embraer Business Meeting at Port Louis, Mauritius

Nigeria civil aviation gets world commendation

Nigeria civil aviation in the last one week has been receiving world commendation. The sector which was recently rated as having one of the highest number of unserviceable aircraft in the world is suddenly being seen as one with the highest potentials on the Africa continent, capable of competing with the best in world civil aviation.

Senate confirms appointment of AMCON chief Ahmed Kuru for second term

The Senate on Wednesday confirmed the appointment of Mr Ahmed Kuru as Managing Director, Asset Management Corporation of Nigeria (AMCON) for a second term in office, in line with President Muhammadu Buhari’s request.

Senate confirms Bello Hassan as new NDIC chief

The Senate Wednesday confirmed the nomination of Mr. Bello Hassan as the new Managing Director/Chief Executive, Nigeria Deposit Insurance Corporation (NDIC).
The order was given by the chairman, Senate Committee on Judiciary, Human Rights and Legal Matters, Senator Michael Opeyemi Bamidele, during a public hearing on the alleged invasion of the Federal High Court. According to the lawmakers, all parties must submit a written account of what happened within 24 hours, adding that their memorandum would enable them to give report to the Senate.

Senator Bamidele speaks on report of indebtedness to defunct Oceanic Bank, Sterling Bank

The Chairman of the Senate Committee on Judiciary and Human Rights Matters, Senator Opeyemi Bamidele, has debunked reports that he is indebted to defunct Oceanic Bank, Sterling Bank or any other bank.

AMCON takes over firm’s assets over N1.3 billion debt

The Asset Management Corporation of Nigeria (AMCON) at the weekend took over an asset belonging to Dr. John Warimeme Abebe, the Chief Promoter of Inducon Nigeria Limited over a staggering indebtedness of over N1.3billion.
AMCON chief Ahmed Kuru

AMCON cries out as hope of recovering N4.4 trillion debt dims

As hopes of recovering outstanding N4.4 trillion debt dim, the Asset Management Corporation of Nigeria (AMCON) has cried out to all relevant government agencies and stakeholders to join its debt recovery drive as failure to achieve this golden objective will further wreck the economy.
Tunde Ayeni

Ex-Skye Bank chair Tunde Ayeni accuses Captain Okunbo of stealing, criminal diversion of millions...

A former chairman of the defunct Skye Bank (now Polaris Bank), Mr Tunde Ayeni, has dragged his business partner, Captain Hosa Okunbo, to the Economic and Financial Crimes Commission (EFCC) for alleged mismanagement, stealing and diversion of funds from their company – Ocean Marine Security Limited. In the petition written by his counsel, Mr Femi Fálànà (SAN), Ayeni gave a vivid account of how Okunbo tried to scheme him out of the company.

Ado Sanusi steps down as Aero Contractors chief

The captain was appointed in February 2017 after the airline was taken over by the Asset Management Corporation of Nigeria (AMCON).
Fidelity Bank Plc has notified the Nigerian Stock Exchange (NSE) and the general public of the appointment of Mrs Nneka Onyeali-Ikpe, as the incoming Managing Director/Chief Executive Officer, effective Jan. 1, 2021.

Nneka Onyeali-Ikpe assumes office as Fidelity bank chief

The new Managing Director/CEO of Fidelity Bank Plc, Mrs Nneka Onyeali-Ikpe, whose tenure formally commenced on January 1, 2021, has assumed office, becoming the 4th Chief Executive and first female to occupy the position since the inception of the bank in 1988.
President Muhammadu Buhari is currently presiding over the quarterly meeting of the National Security Council (NSC) at the State House, Abuja.

President Buhari reappoints AMCON chief, nominates new NDIC boss

President Muhammadu Buhari has reappointed Ahmed Kuru as managing director of Asset Management Corporation of Nigeria (AMCON) for a final term of five years.
Nigeria’s Private Sector led Coalition Against COVID-19, CACOVID, yesterday formally announced the flag-off of a nationwide distribution of multi-billion naira food palliative and other relief items to vulnerable Nigerians.

Mixed reactions trail proposed police rehabilitation fund

Mixed reactions have continued to trail plans by the private sector Coalition Against COVID-19 (CACOVID), to spend N100 billion in rehabilitating all the 44 damaged and destroyed police stations nationwide, during the #EndSARS protests.
Sterling Bank Plc, has contributed N250 million as part of its commitment to the newly formed Nigerian Private Sector Coalition Against COVID-19 created to help channel resources to combat the coronavirus disease under the theme- “We need you.”

Sterling Bank grows trading income by 265% in 3rd Quarter, despite pandemic – chief

Sterling Bank Plc has reported a trading income of N7.1 billion for the third quarter (Q3) ended Sept. 30, compared with N1.9 billion achieved in the corresponding period in 2019, notwithstanding the uncertainties caused by the COVID-19 pandemic and recent fiscal reforms by government
Federal Government’s plan to reduce import duties and taxes for tractors, buses and passenger vehicles has been faulted by Peugeot Automobile Nigeria (PAN) Limited.

PAN faults Nigerian government’s plan to reduce import duty on vehicles

Federal Government’s plan to reduce import duties and taxes for tractors, buses and passenger vehicles has been faulted by Peugeot Automobile Nigeria (PAN) Limited.

AMCON takes over Jimoh Ibrahim’s assets over ‘N69.4 billion debt’

The Asset Management Corporation of Nigeria (AMCON) yesterday announced that it has taken possession of 12 prime assets belonging to the chief promoter of Global Fleet Oil & Gas Limited and NICON Investment Limited, Mr. Jimoh Ibrahim, over an alleged indebtedness of N69.4 billion.
President Muhammadu Buhari on Sunday said the federal government will provide relief materials for residents of Lagos and Abuja whom he ordered to stay-at-home as part of measures to curb the spread of the coronavirus.

President Buhari: It’ll be dangerous to go back to fuel subsidy era

President Muhammadu Buhari has warned that it would be economically dangerous for Nigeria to go back to the era of fuel subsidy, citing grave financial cost and a return to the era of long fuel queues as certain results.

AMCON urges Senate to compel obligors to pay N5 trillion debt

Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru (ALK) has renewed the call for legislative support to his agency.
Polaris Bank has released the statement below announcing the appointment of an acting managing director-chief executive officer. The new appointee is Innocent Ike, who until his appointed served as the bank’s executive director.

Polaris Bank names acting chief

Polaris Bank has released the statement below announcing the appointment of an acting managing director/chief executive officer.

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The Attorney-General of the Federation and Minister of Justice, Mr Abubakar Malami, SAN,

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