Asset Management Corporation of Nigeria (AMCON)
@AmconNg
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Asset Management Corporation of Nigeria (AMCON) is a Debt Recovery agency of the Federal Government of Nigeria, set up in 2010 by the Act of Parliament.
Nigeria
Joined November 2020
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Obligors of AMCON have again resorted to their usual campaign of calumny on Twitter even to the ridiculous extent of promising to reward those who retweet the sponsored falsehood against the Corporation. That is the length AMCON debtors can go but AMCON is not deterred.
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Sen. Anietie forgot to mention that before AMCON's intervention, Arik had 40% cancellation level, their load factor was below 20%, passengers fought staff of Arik and Arik could not even get fuel on credit. Arik was stranded. Its difficult to change facts like that
@THISDAYLIVE
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The public should disregard Twitter attacks on AMCON claiming that the Corporation disobeyed a court order. It is a sponsored falsehood from recalcitrant obligors, economic saboteurs and enemies of Nigeria. AMCON operates within the laws of the land and the AMCON Act as amended.
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Following series of negotiations and eventual restructuring of his huge indebtedness by AMCON, former Minister and current Nigeria Ambassador designate to Spain, Ademola Seriki, has fully settled his obligation with the Corporation and collected his letter of non-indebtedness.
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Sen. Anietie Okon, erstwhile Vice Chairman, Arik told Thisday that Arik was healthy before AMCON takeover. He also said Arik had difficulties meeting its operational needs for spare parts & other foreign obligations. So, how can an airline that can't meet obligations be healthy?
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Irrespective of some sponsored and ill-informed attacks on AMCON by some obligors most of which are designed to misinform the public, the AMCON recovery noose will continue to tighten on all recalcitrant debtors until they pay their debts. Nigeria deserves better.
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ENGAGEMENT: To continually educate and enlighten its stakeholders, AMCON will hold a 2-day session for AMPs. Theme: The Utility Of The Federal High Court Proceedings, Rules And Complementary Strategies As Critical Tools In AMCON Debt Recovery By AMPs. You do not want to miss this
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PRESS STATEMENT:
The management of Arik Air Limited (In Receivership) and Aero Contractors (In Receivership) wish to bring to the notice of the traveling public that both airlines will be operating all their scheduled flights on Monday, May 9, 2022.
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Following the lifting of the ban on Twitter in Nigeria by
@NigeriaGov
, we are back on the platform! Please follow us for your regular news and updates on our debt recovery activities. We will continue to explore all avenues available to us under the law to achieve our mandate.
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Participants at the ongoing training programme of AMCON's Asset Management Partners (AMPs) at Radisson Blu Hotel Ikeja themed, "THE UTILITY OF THE FEDERAL HIGH COURT PROCEEDINGS RULES AND CRITICAL COMPLEMENTARY STRATEGIES IN THE AMCON DEBT RECOVERY BY (AMPs).
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The 2022 House of Representatives Committee on Banking and Currency and AMCON retreat in Lagos. The event is themed, “Asset Recovery as a tool for enhanced growth and stability of the banking sector: sustaining the impact and bridging the challenges of AMCON”.
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PHOTOS: The Inter-Agency Committee on the Recovery of AMCON Debt submits report to
@ProfOsinbajo
at the State House.
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Justice Aneke made the ruling on January 18, 2021 & in compliance to the enforcement order, AMCON went about putting the logistics together. Yesterday, the Corporation took effective possession of the seven properties as listed by the Court through its DRA - Etonye & Etonye.
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Mr. Aliyu Kalgo, Office of the MD, delivering the Managing Director’s keynote address at the AMCON AMP Engagement Session today, in Lagos.
“We encourage a healthy discourse between us on issues that will enhance your effectiveness and improve our recoveries”.
#AMCON
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As part of our strategy to partner, support, and help revitalise businesses in our portfolio over huge debt, AMCON in Abuja on Friday, handed over the original title documents of Standard Shoe Company Limited to Governor Hope Uzodinmma of Imo State.
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Mrs. Ibironke Ifederu anchoring the Q&A/Feedback Session at the end of all the presentations.
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Mr. Muyiwa Balogun of
@OlaniwunAjayiLP
giving a robust analysis of Federal High Court Rules & the 2019 and 2020 amendments to the AMCON Act to the attendees.
#AMCON
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The gesture shows even though AMCON may be in court with a good number of its obligors, the Corporation is ever ready to listen to the voice of reason especially for responsible debtors who genuinely want to settle their debt without going through unnecessary judicial processes.
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LATEST: Nigeria's Senate today (April 28, 2021) passed the amended Asset Management Corporation of Nigeria (AMCON) Bill. The amendment will henceforth empower the corporation to access the Special Tribunal established by the BOFIA, 2020 for dealing with financial related matters.
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Nigeria’s Chronic Debtors and Politics
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Dr. Fatihu A. Abba, the Director General, Legal Academy at the AMCON AMPs training clarifying issues at the 2-day training themed "THE UTILITY OF THE FEDERAL HIGH COURT PROCEEDINGS RULES AND CRITICAL COMPLEMENTARY STRATEGIES IN THE AMCON DEBT RECOVERY BY AMPs."
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Nigeria Senate earlier today considered a critical bill seeking to further empower AMCON in the aspect of debt recovery, as well as strengthen the Corporation against economic sabotage by recalcitrant debtors with unpaid loans to the tune of over ₦5.4trillion.
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AMCON has taken over assets belonging to 14 former directors of Deap Capital Management and Trust Plc over indebtedness of some N1.6 billion.
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MD/CEO AMCON, Mr Ahmed Kuru at the AMP Interactive Session in Abuja
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AMCON, led by Ahmed Kuru as MD/CEO, has won the
@Independent
Awards 2022 'Public Sector Agency of the Year Award'.
The MD was represented at the gala night by Iyatum Adode-Kobiti, Group Head, Corporate Services at AMCON.
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“So, having met all conditions as agreed in the terms of settlement he (Seriki) is no longer indebted to AMCON,” Nwauzor explained.
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Cross-section of participants at the AMCON Asset Management Partners (AMP) Engagement programme.
The aim of the engagement is to help AMPs effectively utilise FHC proceedings, rules and strategies to enhance debt recovery.
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The handover of the asset followed the resolution of the indebtedness of Standard Shoe Company Limited to AMCON.
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Managing Director/Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru addressing participants at the second leg of the training programme for AMCON Asset Management Partners (AMPs) in Abuja this morning.
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The MD/CEO, Ahmed Kuru, upon arrival at the AMCON 2023 Media Parley in Lagos.
The media parley is designed to engage the media, promote the ideals for setting up AMCON and provide correct information to the public. The MD will be leading the engagement.
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Following the order of Honourable Justice C.J. Aneke of the Federal High Court Lagos Division, AMCON has taken over 13 prime assets linked to Centage Savings and Loans Limited and its Chief Promoter, Mr. Johnson Gabriel Ndukwe, over an indebtedness of over N3.5billion.
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Cross-session of participants at the ongoing training of AMCON AMPs in Abuja
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Committee members at the 5th meeting of the Inter-agency Committee on Recovery of AMCON Debts held at the AMCON Head Office in Abuja today.
@icpcnigeria
@officialEFCC
@NigFiu
@NDICNigeria
@FedMinOfJustice
@cenbank
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Aero Contractors, Nigeria’s oldest airline is scaling up regulatory compliance to commence flight operations by the end of September 2022.
The airline took delivery of another Aircraft, a Q-400 Bombardier, the second among the five being expected to beef-up Aero’s fleet.
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@ABDULMA64658190
@dmightyangel
@ProfOsinbajo
@fkeyamo
@DrAhmadLawan
@femigbaja
Replying to
@ABDULMA64658190
@ABDULMA64658190
@dmightyangel
@ProfOsinbajo
@fkeyamo
@DrAhmadLawan
@femigbaja
AMCON is a responsible organisation created by FG to stabilise & re-vitalise the financial system. AMCON's processes are fair to all & guided by facts, not emotions.
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It was nice reading a statement credited to CLO urging AMCON to obey court order in respect of Peace Global Satellite Communications. One expected the CLO to have balanced their self-appointed mediation role by also urging Peace Global to honour their obligation with AMCON
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The matter between AMCON and Arik Air Limited is needlessly taking up public space and attracting attention. But the facts of the matter reveal a straight, one could even say simple solution.
Find out here:
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The fact that AMCON has so far recovered over N1.4tn out of the total N1.76tn it paid to acquire Eligible Bank Assets (EBAs) from 22 banks in 2010, remains a feat never achieved by any other Asset Management Company (AMC) anywhere in the world.
More here:
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Managing Director/CEO Asset Management Corporation of Nigeria (AMCON) Mr Ahmed Lawan Kuru (ALK) and the President of the Court of Appeal, Hon. Justice Monica Dongban-Mensem pose for photograph at a recent event in Abuja, Nigeria.
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AMCON MD/CEO, Mr. Ahmed Kuru, delivering the keynote address at the AMP Training in Abuja.
“It is imperative that you understand the provisions of the AMCON Act. We have several tools available to us, so you must know how to utilise them.”
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Head, Information Technology, Mr. Jude Orhotowho training the AMPs on the technical aspect of case management & reporting.
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N69.4bn Debt: AMCON Possessory Order On Jimoh Ibrahim’s Seized Assets Stays. Read more on this here:
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Group Head Enforcement, Mr Joshua Ikioda, giving the opening remarks.
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The MD/CEO, AMCON, declaring open the Corporate Services Retreat in Abuja this morning.
The retreat is an opportunity for the Corporate Services Directorate of the Corporation to strategise, learn and bond in order to position effectively for excellent service delivery.
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AMCON MD, Mr Ahmed Kuru; ED Dr Eberechukwu Uneze, and other senior officials of the Corporation arrived at the Holiday Inn, Kensington High Street, Wrights Lane, Central London this morning to attend the Foreign Training for the Honourable Judges of the Federal High Court.
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The Corporate Communications Department, AMCON paid a courtesy visit to
@LeadershipNGA
Head Office in Abuja on Monday, January 17, 2022.
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The 2022 Senate Committee on Banking, Insurance & Other Financial Institutions and AMCON Retreat themed, “Asset Recovery as a tool for enhanced growth and stability of the banking sector: sustaining the impact and bridging the challenges of AMCON”.
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When contacted, Head Corporate Communications AMCON, Jude Nwauzor confirmed that the former minister Mr Seriki negotiated with the Corporation and both parties eventually reached a settlement term, which has also been fulfilled.
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The Managing Director/CEO along with other officials of AMCON at the Capacity Building Workshop for Estate Surveyors and Valuers holding today, in Abuja.
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ON-GOING: AMCON’s Interaction with its Asset Management Partners (AMPs) at The Rockview Hotel Abuja.
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Cross-session of participants at the ongoing training of AMCON Receivers and Solicitors in Abuja.
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Aliyu Adamu, representing the MD/CEO Mr Ahmed Kuru, at the 2022 NYSC SAED Stakeholders Meeting giving a presentation on the NYSC Continuous Learning Initiative.
It is an in-house programme designed for Youth Corps members in the Corporation.
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Both managements fully identify with and endorse the efforts of the Airline Operators of Nigeria (AON) to bring about a conducive operating environment for Nigerian carriers as the current price of JET A1 is unsustainable and could result in the untimely demise of most airlines.
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Earlier today, AMCON received a delegation from the Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) at the Abuja Head Office.
Both parties will collaborate towards raising the standard of business rescue and insolvency practices in Nigeria.
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The Managing Director/Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Lawan Kuru has condoled with the President of the Court of Appeal, Justice Monica Dongban-Mensem, over the loss of her son, Prince Paeke Dongban…(1)
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ON-GOING: A moment with Mr Aliyu Kalgo.
Mr Kalgo (right), who has been a staff of the Corporation since 2011 is retiring. Through this inspiring session, he shares his knowledge and experience on his career journey with the entire AMCON house.
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As part of its strategies to cover more routes in Nigeria, Aero Contractors yesterday commenced commercial flight services from Abuja to Bauchi with its Boeing 373-400 aircraft. The airline will now operate four weekly flights from Abuja to Bauchi.
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“The Asset Management Corporation of Nigeria has so far recovered over N1.8trn “
Watch more in this news report by
@tvcnewsng
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Arik Air flights from Abuja to Maiduguri are back! Visit to book your tickets from May 10, 2021.
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The seizure was sequel to the order of Hon. Justice C.J. Aneke of the Federal High Court, Lagos Division made on January 18, 2021. Read more here:
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Assets Recovery: AMCON Seeks Accommodation In BOFIA 2020 Over N5.4trillion Debt Burden.
Watch here:
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A Federal High Court in Lagos on Tuesday refused to vacate an interim order through which AMCON seized properties belonging to Businessman, Jimoh Ibrahim, for an alleged N69.4 billion debt. More on this by
@SaharaReporters
here:
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Managing Director/Chief Executive Officer, AMCON, Mr Ahmed Kuru delivering his Keynote address at the AMP training in Abuja
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Just concluded: AMCON Interaction with external Solicitors, Receiver Managers and Asset Management Partners (AMPs) at the Sheraton Hotel, Lagos.
The interactive session was aimed at enlightening the AMPs on the various debt recovery strategies under the AMCON Act.
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AMCON HOSTS NDA CADETS
AMCON on Tuesday April 4, 2023, received a delegation from the Nigerian Defence Academy (NDA), led by Dr SG Joshua of the Department of Accounting at the Academy.
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Ever since we took over the factory, AMCON had continued the engage the government of Imo State because of the critical impact resuscitating such a massive factory would make in the manufacturing sector of the Nigerian economy.
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Press Statement: Arik Air operations safe
Our attention has been drawn to stories published on the social media claiming that Arik Air operations are unsafe following an incident last week.
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The attention of the Receiver/Manager of Arik Air Limited (in Receivership) and the Asset Management Corporation of Nigeria (AMCON) has been brought to several online publications concerning a judgment of the Federal High Court, Lagos delivered on Friday, March 31, 2023.
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Please do not forget to share the joy of the season with the less fortunate ones around us. May God Almighty accept these prayers and more from me and you all. Amen.
Stay safe.
ALK
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April 20, 2021
Press Statement
RE: PURPORTED PRESS CONFERENCE TO DISCUSS DISOBEDIENCE OF COURT ORDERS AND VIOLATION OF THE DOCTRINE OF LIS PENDIS BY THE ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON) AND ITS RECEIVER MANAGER
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Group Head Enforcement, Mr Joshua Ikioda, giving the opening remarks at the ongoing training for AMCON RECEIVERS AND EXTERNAL SOLICITORS.
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"Recovering Outstanding AMCON Debts Challenging" - AMCON MD/CEO, Ahmed Kuru.
In an interview with
@THISDAYLIVE
, Kuru speaks on the success of AMCON so far, the AMCON Act, debt recovery efforts, and more.
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The 39th Edition of
#EFCCconnect
holds tomorrow, February 15, 2023. The discussion topic is
@officialEFCC
partnership with
@AmconNg
.
Details below.
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Passengers who are booked to travel on both Arik Air Aero Contractors tomorrow and beyond should proceed to their airports of departure to board.
Signed:
Management, Arik Air & Aero Contractors.
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A Cross Section of Participants Standing for the National Anthem at the Day 2 of the AMCON AMP Engagement Session in Abuja.
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Mr. Brian Ike-Echie- Head, Case Management, Asset Management Corporation of Nigeria (AMCON) presenting a paper titled "Effective Case Management and Reporting," at the ongoing training of Asset Management Partners (AMPs) of AMCON at the Radisson Blu Hotel, Ikeja Lagos
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because of the current security challenges as advised by security agencies in the country. Most importantly, I want to remind you that the ravaging coronavirus (COVID-19) pandemic is still out there.
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Mr. Muyiwa Balogun of
@OlaniwunAjayiLP
giving a practical and robust analysis of AMCON Federal High Court Rules 2020 and the 2019 amendments to the AMCON Act.
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Mr. Robert Odihi of Dele Oye & Associates explaining practical aspects of the A-Z of AMCON Receivership.
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Group Head Asset Management Mr Matthew Corker,who delivered the Key Note address of the Managing Director/CEO of AMCON, Mr Ahmed Kuru at the ongoing training of AMCON Receivers and External Solicitors at Rockview Hotel, Abuja The training was organised by Legal Academy.
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However, we have assurances that
@NigeriaGov
is looking at the issues raised by the AON and will come up with a decision that will be in the best interest of the industry and the traveling public.
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End of Day Two of the AMP training/Engagement session.
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As part of the ongoing Anti-Corruption and Transparency Unit (ACTU) campaign, a tv crew from
@icpcnigeria
visited our Abuja Head Office for a scheduled interview with the MD/CEO, Asset Management Corporation of Nigeria (AMCON) Mr Ahmed Lawan Kuru OFR.
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MD/CEO, AMCON, Mr Ahmed Kuru at the AMP training in Abuja
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The management of Asset Management Corporation of Nigeria (AMCON) has once again cleared the dust that is being raised by one Association of Victory Park Estate Land Owners.
Read here:
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A Cross Section of Participants at the Day 1 of the AMCON AMP Engagement Session in Abuja.
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NEXTMONEY MAGAZINES VISITS AMCON
Head, Corporate Communications, AMCON Jude Nwauzor (L) receiving a copy of NextMoney Magazine from the Editor-In-Chief Ray Echebiri when the top management of the magazine paid a business visit to AMCON Office in Maitama, Abuja on Wednesday
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The programme is aimed at developing the skills of corps members to prepare them for future challenges, and also has a built-in annual entrepreneurship competition kickstarted in 2021 by the MD/CEO.
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2023 Retreat of the House of Representatives on Banking & Ancilliary Institutions with AMCON begins this morning in the Coal City of Enugu. It has as theme: "Navigating Nigeria Financial Ecosystem for a Sustainable Future: THE Role of AMCON."
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Asset Management Corporation of Nigeria (AMCON) has taken over assets belonging to Glano Nigeria Limited over an indebtedness of over N2bn.
Read more here:
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A Cross Section of Participants Standing for the National Anthem at the Day 2 of the AMCON RECEIVERS AND EXTERNAL SOLICITORS Engagement Session in Abuja.
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Mr. Bisi Oni of TAC Professional speaking on Asset Tracing as a debt recovery tool.
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