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Asset Management Corporation of Nigeria

N900 million debt: Court adjourns Buba Galadima, AMCON case till April 20

Justice Anwuli Chikere of a Federal High Court, Abuja, on Thursday, adjourned until April 20 the suit filed by Asset Management Corporation of Nigeria (AMCON), ordered it to takeover the assets of Alhaji Buba Galadima and his company, Bedko Nigeria Ltd.

CBN: No hiding place for bad debtors

The Central Bank of Nigeria (CBN) vowed on Saturday that there will be no hiding place for bad debtors in the country.g

Nigeria to seize private jets belonging to loan defaulters

Emefiele, who spoke on Saturday during a visit to the Dangote refinery and fertiliser project site in Lagos, said the chunk of the loans in the Asset Management Corporation of Nigeria was being owed by Nigerians.
Buba Galadima

AMCON takes over Buba Galadima’s houses, company over ‘N900 million debt’

Houses and a company linked to a chieftain of the Peoples Democratic Party (PDP), Alhaji Buba Galadima, were on Tuesday seized by the Asset Management Corporation of Nigeria (AMCON) over an alleged N900 million debt.
Patrick Ifeanyi Ubah

AMCOM to arraign Senator Ifeanyi Ubah over N132 billion debt

Asset Management Corporation of Nigeria, AMCON, Thursday secured the approval of the Federal High Court sitting in Lagos to arraign Ifeanyi Ubah and his Capital Oil and Gas Limited over the fraudulent value of assets tendered to offset N132 billion owed the corporation.
Senate President Ahmed Lawan 2

2020 Budget: Senate approves N140.3 billion for NCC

The Senate on Wednesday approved the sun of N140,383,591,000 for the Nigerian Communications Commission (NCC) for the 2020 fiscal year.
Senate President Ahmed Lawan 1

PIB: Senate president explains how National Assembly will break the jinx

President of the Senate, Ahmad Lawan, has said the Ninth National Assembly will do things differently to break the jinx with the passage of the Petroleum Industry Bill (PIB) next year.

N135 billion debt: AMCON faults Senator Ubah’s claims

The Asset Management Corporation of Nigeria (AMCON) on Thursday presented what it described as the ‘correct account’ in the case between the corporation and Senator Ifeanyi Ubah over alleged N135 billion bad debt.
Senate President Ahmed Lawan 2

Senate mandates committee to investigate issues on foreign vessels

The Senate on Wednesday at the plenary mandated its Committee on Local Content to investigate reasons for the dominance of foreign vessels above locally owned and registered vessels in the domestic carriage of petroleum products within coastal inland waterways of Nigeria.
Senate President Ahmed Lawan 1

Senate to confirm Edward Adamu as AMCON chairman next week

Senate on Wednesday began the Confirmation process of Edward Lametek Adamu as the Chairman of the Asset Management Corporation of Nigeria, AMCON.

Arik Air’s fleet receives boost, to enhance customer experience

Arik Air received two aircraft from C-Check over the weekend, thereby boosting the operations of the airline in the coming festive season.

President Buhari sacks Muiz Banire as AMCON chairman

President Muhammadu Buhari has replaced Muiz Banire as the head of Asset Management Corporation of Nigeria (AMCON).
AMCON chief Ahmed Kuru

AMCON: Why airlines fail in Nigeria

Many airlines have failed in Nigeria because of a myriad of unethical business conduct, including greed and financial rascality by their owners, the managing director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has said.
A lawyer walks through the compound at the Federal High Court in Ikoyi district in Lagos, Nigeria, May 8, 2018. REUTERS/Akintunde Akinleye

N135 billion fraud: Senator Ubah’s absence in court stalls arraignment

Ubah, who is currently a senator, was to be arraigned before Justice Nicholas Oweibo of the Federal High Court in Ikoyi, Lagos. The senator and his company, Capital Oil and Gas Limited, are facing a four-count charge of fraud and misrepresentation of facts.
The assets of Ademola Seriki, a former Minister of State for Defence and one time Supervising Minister for Mines and Steel Development are to be taken over by Asset Management Corporation of Nigeria (AMCON).

Former minister’s assets taken over by AMCON over N1 billion debt

The assets of Ademola Seriki, a former Minister of State for Defence and one time Supervising Minister for Mines and Steel Development are to be taken over by Asset Management Corporation of Nigeria (AMCON).

Minister: Arik Air not suitable for national carrier

The Federal Government on Wednesday dismissed calls that Arik Air be converted into a national carrier rather than establishing a new one.

NDIC to adopt cost-effective bank failure resolution method

The Nigeria Deposit Insurance Corporation (NDIC) has assured depositors of its drive to adopt cost effective method of bank failure resolution to protect depositors.
The Acting Chief Justice of Nigeria (CJN), Ibrahim Tanko Muhammed has explained that Nigeria’s Judicial arm of government headed by him has been infested with corrupt elements.

CJN: Supreme court justices are fallible

The Chief Justice of Nigeria (CJN), Justice Ibrahim Muhammad, has said that the justices of the Supreme Court are not repository of knowledge, hence are fallible and always amenable to correction.

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The Acting Inspector General of Police, Mohammed Adamu, has ordered vehicular restriction from 6am – 6pm tomorrow 16 February during the election.

Easter: Police to continue enforcement of restriction order

The Inspector General of Police (I-G), Mr Mohammed Adamu, on Thursday said the social restriction order would continue during the Easter celebration in states where the order had been in ordered.
FILE - A volunteer receives a shot in the first-stage safety study clinical trial of a potential vaccine for COVID-19, at the Kaiser Permanente Washington Health Research Institute in Seattle, March 16, 2020.

China recruits volunteers for phase two coronavirus vaccine trial

Barely a week after Chinese scientists finished injecting an experimental coronavirus vaccine into their first group of volunteers, official news outlets reported Thursday that a second batch of participants was being recruited.
The government’s expression is coming after the Minister of Foreign Affairs, Geoffrey Onyeama, assured on his verified Twitter handle that he was going to engage the Chinese Government over the allegations immediately.

Nigeria summons Chinese envoy over allegations of maltreatment of nationals in China

The government’s expression is coming after the Minister of Foreign Affairs, Geoffrey Onyeama, assured on his verified Twitter handle that he was going to engage the Chinese Government over the allegations immediately.
The Shell companies in Nigeria have presented eight vehicles to the governments of Lagos and Rivers States to support the efforts at contact tracing and treatment of novel coronavirus disease cases.

Shell equips three hospitals, provides eight vehicles

The companies, comprising: The Shell Petroleum Development Company of Nigeria Limited, Shell Nigeria Exploration and Production Company and Shell Nigeria Gas, also joined other players in the oil and gas industry to support the Federal Government with $30 million to stop the spread of the deadly disease.
Nyesom Wike

Rivers relaxes restrictions for Easter celebrations, others

The Rivers State Government has temporarily relaxed the restrictions on large religious gatherings to enable Christians carry out their religious obligations during the Easter Period.