Thursday, September 20, 2018

Tag "Ahmed Kuru"

    Senate asks AMCON to compile and publish debtors’ list

Senate asks AMCON to compile and publish debtors’ list

The senate committee on banking, insurance and other financial institutions says the Assets Management Corporation of Nigeria (AMCON) should compile and publish the names of debtors.Speaking on Thursday at the opening of a 2-day retreat at Intercontinental Hotel in Lagos, Rafiu Adebayo Ibrahim, chairman of the committee, said this allows Nigerians know the people holding the economy to ransom.The senator [...]

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    AMCON: No more room for negotiation with debtors

AMCON: No more room for negotiation with debtors

The Assets Management Company of Nigeria (AMCON) says there will be no more room for negotiation with obligors.Ahmed Kuru, managing director and chief executive officer of AMCON, said the company is tired of debtors coming to their office and telling lies about wanting to embark on a staggered payment which they ended up never complying.He said most parts of the N5.4 [...]

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    AMCON says only 350 Nigerians owing N4.3trn

AMCON says only 350 Nigerians owing N4.3trn

The Asset Management Corporation of Nigeria (AMCON) says 350 Nigerians are responsible for more than 80 percent of the N5.4 trillion debt portfolio of the company.Ahmed Kuru, managing director of AMCON, disclosed this in an interview with NAN in Abuja.According to Kuru, the 350 Nigerians or their businesses owe a whopping N4.3 trillion of the N5.4 trillion debt profile of [...]

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    We recovered N731bn bad loans in seven years, says AMCON MD

We recovered N731bn bad loans in seven years, says AMCON MD

The Asset Management Corporation of Nigeria (AMCON) says it recovered bad loans worth N731bn, excluding clawbacks, from the start of its operations in 2010 up to December 2017.Assets in form of properties accounted for about 35 percent of the total amount recovered in the seven-year period.Ahmed Kuru, managing director, AMCON, made the disclosure while declaring open a two-day Asset Sales [...]

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    AMCON may dispose of Aero Contractors, Arik Air in 2018

AMCON may dispose of Aero Contractors, Arik Air in 2018

The Asset Management Corporation of Nigeria (AMCON), says 2018 will be a busy year because it plans to dispose assets like Aero Contractors and Arik Air.In April, AMCON said it is willing to exit the aviation sector if the owners of the companies pay their debts.In a statement released by Jude Nwauzor, AMCON's head of corporate communications, the corporation said [...]

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    AMCON to release list of debtors in July, says 5,000 have gone into hiding

AMCON to release list of debtors in July, says 5,000 have gone into hiding

Ahmed Kuru, managing director of the Asset Management Corporation of Nigeria (AMCON), says it will release the list of all the debtors in July.While addressing journalists on Friday, Kuru said 5,000 debtors have gone into hiding.He said the corporation has already engaged the services of lawyers and asset tracers to go after them."Some of them have decided to change their [...]

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    Pay the debts and take back your company, AMCON tells Arik, Aero owners

Pay the debts and take back your company, AMCON tells Arik, Aero owners

The Asset Management Corporation of Nigeria (AMCON) says it is willing to handover ownership of Arik Air and Aero Contractor airlines if the owners are willing to pay the debts owed by the companies.Speaking during the weekend at the sixth Nigeria Transport Awards and Lecture, Ahmed Kuru, AMCON chairman, said the corporation did not wish to operate in the airline [...]

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    AMCON wants special market to sell off ‘stockpile of assets’

AMCON wants special market to sell off ‘stockpile of assets’

The Asset Management Corporation of Nigeria (AMCON) says a special market should be created to enable it to sell the stockpile of assets tied to it.The corporation said the market will be called AMCON Market.According to a statement released on Sunday, Eberechukwu Uneze, an executive director at AMCON made the call while declaring a one-day sensitization forum for AMCON’s valuers [...]

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    Senate seeks to expand AMCON’s duties beyond asset recovery

Senate seeks to expand AMCON’s duties beyond asset recovery

Rafiu Ibrahim, chairman, senate committee on banking, insurance and other financial institutions, says the upper chamber will empower the Asset Management Corporation of Nigeria (AMCON) to realise its mandate.According to a statement by AMCON, the senator said this on Thursday at the opening of the committee’s retreat.Ibrahim said the senate has decided that AMCON requires more support from the legislature [...]

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    AMCON MD named IoD fellow

AMCON MD named IoD fellow

Ahmed Kuru, managing director/CEO, Asset Management Corporation of Nigeria (AMCON), has been admitted as a Fellow, Institute of Directors (IoD) at the institute’s fifth biennial presidential lecture in Lagos.The lecture titled “The role of corporate leaders in accelerated economic revival of Nigeria today” was delivered by Kola Jamodu (CFR), chairman of Nigerians Breweries Plc.Speaking at the event, Samuel Akeju, [...]

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    No investor will put money in Arik now, says AMCON MD

No investor will put money in Arik now, says AMCON MD

Ahmed Kuru, managing director of the Asset Management Corporation of Nigeria (AMCON) says no investor will put money in Arik Air at this stage in its economic life.Speaking on investors interest in Arik, Kuru said the problems in Arik are too many and must be first stabilised and solved before any investor can come in."We are aware about some of [...]

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    Recession shouldn’t deter serious-minded investors, says AMCON

Recession shouldn’t deter serious-minded investors, says AMCON

Ahmed Kuru, managing director/CEO of Asset Management Corporation of Nigeria (AMCON), says recession shoul not deter serious-minded investors from coming into Nigeria.According to Kuru, "the slight challenge the Nigerian economy is faced with at the moment also makes it the right time for strategic investors with long-term interest in Nigeria to come in".He said recession, which the country slipped into [...]

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    We have over N1.7trn worth of assets in litigation, says AMCON

We have over N1.7trn worth of assets in litigation, says AMCON

Ahmed Kuru, managing director and chief executive officer (CEO) of the Assets Management Company of Nigeria (AMCON), says the company has over N1.7 trillion worth of assets locked up in litigation.Speaking at a one-day conference at the Ceremonial Hall of the Appeal Court in Abuja, Kuru said the refusal and arrogance of top AMCON obligors had become a source of concern, consequently compelling [...]

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    Senate charts framework for speedy AMCON debt recovery

Senate charts framework for speedy AMCON debt recovery

The senate has begun charting a fresh framework to strengthen the drive of the Asset Management Corporation of Nigeria (AMCON) in debt recovery.This was disclosed by Rafiu Ibrahim, chairman of senate committee on Banking, Insurance and other Financial Institutions in Uyo during a three-day retreat with the theme “Economic Rebuilding through Eligible Assets Recovery”.“This retreat for the Senate Committee on Banking, Insurance [...]

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    AMCON recovers N644bn, says it’s out to protect the economy

AMCON recovers N644bn, says it’s out to protect the economy

Ahmed Kuru, managing director (MD) of the Asset Management Corporation of Nigeria (AMCON), says the corporation has succeeded in recovering N644 billion.Kuru disclosed this at a media briefing in Lagos, stating that the financial institution is on its way to achieving its objective of protecting the economy and retrieving acquired bad debts in the Nigerian financial system."We have so far [...]

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Exchange Rates

September 20, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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