The Asset Management Corporation of Nigeria (AMCON) has repaid about N3.6 trillion to the Central Bank of Nigeria (CBN) since its establishment in 2010, Managing Director Gbenga Alade said on Wednesday in Lagos. Alade described the repayments as “a significant national achievement,” noting that while AMCON initially acquired toxic bank assets for N1.7 trillion, it…
An Ikeja Special Offences Court has ordered the Economic and Financial Crimes Commission (EFCC) to provide an investigative report and e-statement of Keystone Bank with the Central Bank of Nigeria (CBN). Justice Rahman Oshodi made the order on Tuesday in the ongoing N20 billion fraud trial involving the former Managing Director of the Asset Management…
The trial of the ex-Managing Director of the Asset Management Corporation of Nigeria (AMCON), Ahmed Kuru, charged with defrauding Arik Air was stalled due to his counsel, Mr Olasupo Shasore’s absence. Kuru and four others are facing charges of N76 billion and $31.5 million fraud, respectively. The other defendants are former Receiver Manager of Arik…
Shareholders have kicked against the N436.5 billion paid to the Asset Management Corporation of Nigeria (AMCON) by seven banks as banking sector resolution costs in 2024. Some of the shareholders, who spoke to the News Agency of Nigeria (NAN) in Abuja on Sunday, said that the levy had negative consequences on shareholders’ funds. Mrs Bisi…
