The appointment, confirmed in a State House statement, on Wednesday, will be pending confirmation by the Senate.
Browsing: AMCON
Justice Emmanuel Agim of the Court of Appeal in his judgment dismissed the appeal brought to it by AMCON.
Justice Inyang Ekwo gave this judgment in the suit, marked: FHC/ABJ/AMC/12/2022, in Abuja on Tuesday.
It lamented the loss of N146 billion the corporation recorded in its operation in the past 12 months.
From all indications, the Asset Management Corporation of Nigeria may still have a long way to go in meeting its recovery mandate.
“The challenge of Sir Arumemi Johnson’s Arik Air Limited (in Receivership) under the auspices of the Asset Management Corporation of Nigeria (AMCON), may seem difficult, but the situation is not irredeemable. There is always a way out of every resolution situation however, there must be a situation of give and take, which is what we (AMCON) have been trying to achieve. We are ready to sit down with the owner or owners of Arik if they are ready to agree on what makes sense to us, to them, and the federal government.
The House of Representatives has threatened to invoke its constitutional power on the Integrated Payroll and Personnel Information System, Budget Office and Assets Management Company of Nigeria over failure to appear before it.
The Federal High Court has refuted a report that the Asset Management Corporation of Nigeria and Nigerian Financial Intelligence Unit funded the training of its judges in London, United Kingdom.
Justice Chukwujekwu Aneke in his ruling on interlocutory injunction sought by defendants in the suit specifically restrained the AMCON from alienating, selling, disposing or transferring the IBEDC pending the final determination of the suit before it.
A statement by the Office of the Vice President, Prof. Yemi Osinbajo (SAN), revealed this development on Wednesday.
The House said the suspension should be until the CBN deposit Insurance Corporation and the Asset Management Corporation of Nigeria concluded all processes for open, transparent, and competitive bid process.
The dismissal is contained in a press release issued Friday by the Bank’s management.
Recall that in September of 2019, the Vice President of Nigeria Prof. Yomi Osinbajo SAN, inaugurated an Inter-agency Committee to speedily resolve the challenges in recovering over N5 trillion AMCON debts. Osinbajo, who inaugurated the committee at the Presidential Villa, Abuja, had tasked its members to deploy their expertise in the assignment to ensure that AMCON meets its mandate within reasonable timeline.
AMCON’s spokesperson, Jude Nwauzor, said this was sequel to the order of Justice D.E. Osiagor of the Federal High Court.
At a press briefing to explain the recent take over of two Kwara properties by Assets Management Corporation of Nigeria (AMCON) owing to about N1.7bn debts of the Farm, the government said more than a cumulative sum of N5bn of public funds and loans secured with the government as guarantor have been sunk into the agricultural project with no traces of any dividends to the people of the state.
This is contained in the statement on investors’ relations signed by the Company Secretary, Seye Kosoko, posted on the NGX website.
Counsel for the state government, Terkura Pepe, SAN, who told Justice Inyang Ekwo while moving his affidavit of urgency in support of the motion on notice, said Benue State Government had been incapacitated by the interim order.
The four banks include First City Monument Bank Plc, Standard Chartered Bank Ngeria, Suntrust Bank Nigeria Ltd, and Wema Bank Plc.
The Chairman, Senate Committee on Aviation, Senator Smart Adeyemi, stated this in a letter sent to the NCAA.
AMCON added that it had traced nine other properties belonging to the ex-governor in Kwara, Lagos and Abuja some of which include: houses at 13, Alhaji Masha Road, Surulere; No. 9 Wharf, Apapa, Lagos; Plot 3632, Cadastral Zone E27 of Apo, Abuja; Plot 4115, Cadastral Zone F14 of Bazango, Abuja; Plot 8502, Cadastral Zone E31 of Carraway Dallas, Abuja; and Plot 494, Cadastral Zone E31 of Carraway Dallas, Abuja