FG still looking for initial $300m for Nigeria Air as AMCON keeps mute on 2 airlines
The initial pomp and pageantry that greeted the unveiling of Nigeria Air name and logo recently at the London Air-Show may be fading away over apparent paucity of fund as the federal government suddenly become speechless on further build to…
AMCON boss seeks economy shift from resource-based to knowledge-driven
The managing director of Asset Management Corporation of Nigeria (AMCON), Mr. Ahmed Kuru has made case for the complete switchover from resource-based economy to knowledge- based to be in line with current global realities. He however, made it clear that…
Unpaid debts of over N20bn forces AMCON to override Stella Oduah’s oil firm, others
Due to an unpaid debt of about N20 billion, the Asset Management Corporation of Nigeria (AMCON) has taken over Sea Petroleum Oil & Gas Ltd. and other assets belonging to Senator Stella Oduah-Ogiemwonyi According to the Corporation, the takeover followed…
PAN grows revenue by 65% after AMCON’s takeover, revival, handover to new mgt
Indications have emerged showing that debt-bugged companies that were taken over and revived by the Asset Management Corporation of Nigeria (AMCON) are better positioned for higher exploits. This stemmed from the recently released 2017 performance status of Peugeot Assembly of…
Arik Air, Aero Contractors can take back their firms after debt recovery—AMCON
The Managing Director, Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, has opened up on the fresh terms and condition that will be met by both Arik Air and Aero Contractors before they will take over the running of the…
AMCON boss at Lecture, seeks CBN’s kind of monitoring on banks’ for local airlines
Barring any last minute change, airlines may soon be monitored the way and manner the Central Bank of Nigeria (CBN) is on the toes of banking institutions to avoid bankruptcy and collapse. Already, the Managing Director, Asset Management Corporation of…
Aero Contractors’ MRO facility can make the difference for W’Africa—Balami
A former President of the National Association of Aircraft Pilots and Engineers (NAAPE), Engineer Isaac Balami, has opened up on what Nigeria and West African airlines will gain if the existing Aero Contractors’ Maintenance, Repair and Overhaul facility at the…
No airline is currently gaining from Nigerian bilateral deals—Senator Okon
Pioneer spokesman of Peoples Democratic Party (PDP) and former Vice-Chairman of Arik Air, Senator Anietie Okon has revealed that currently no Nigerian airline is benefitting properly from the bilateral agreement Nigeria signed with other countries. In an interview, he decried…
Why AMCON overrun Gateway Portland Cement
For non-performing loan rising to over N3bn, the Asset Management Corporation of Nigeria (AMCON) weekend, took possession of Gateway Portland Cement Ltd. and factories in Ogun State. The said debt had been a subject of litigation for some time now….
Scarcity looms as oil marketers urge FG to pay outstanding N720bn fuel subsidy claims
There are anxieties that the Major Oil Marketers Association of Nigeria (MOMAN) may be running out of patience on backlog of subsidy claims as it appealed to the Federal Government to pay the outstanding fuel subsidy claims to its members…
