Saturday , 4 February 2023

Tag Archives: AMCON

House to grill NCAA on NG Eagle, Arik relationship asks regulator to withhold AOC issuance

HOUSE of Representatives Committee on Aviation has said it would get to the bottom of the lingering issues and/or relationship between, Arik Air and NG Eagle midwifed by the Asset Management Company of Nigeria (AMCON) and has asked the Nigeria Civil Aviation Authority, (NCAA) not to issue Air Operators’ Certificate, (AOC) to the new airline. The Committee made this known …

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Captain Ilegbodu clarifies NG Eagle’s ownership; says entity completely different from Arik

“I can boldly say that those airplanes in our industry we call what happened with it recovery. So they have been recovered. If a company owes and it cannot pay, those airplanes were actually mortgaged to AMCON and it is very clear that at some point they’d take their assets and that is what was done.”

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FG to banks, huge financial safety nets increases risks, vulnerabilities

FEDERAL Government has urged banks to re-strategize on their risk management methods in the sector as the use of huge intervention funds may not be sustainable in the financial system and would increase their weaknesses. Vice President, Yemi Osinbajo, who spoke at the Nigeria Deposit Insurance Corporation’s 30th anniversary lecture/book launch, on Monday in Abuja bemoaned the huge funds used …

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AMCON denies plans to shut NBML over huge debt

ASSET Management Corporation of Nigeria (AMCON) has denied plans to liquidate the Kano-based Nigerian Braiding Manufacturers Limited (NBML) over loans which have snowballed to over N1b AMCON Spokesman Jude Nwauzor disclosed this in a statement issued over the weekend stating that the Corporation was forced to take over the company, following the refusal of the owners to negotiate terms of …

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