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These are the stories that drove the conversation today: The Lagos Government has announced a restriction of the movement of fuel tankers to designated trailer route in the state. In an announcement made by the Commissioner for Transportation, Ladi Lawanson in Alausa ,“as an immediate response to the latest incident, the Lagos State Government hereby... Read More
by Dolapo Adelana The management of Arik Air appointed by the Asset Management Company of Nigeria has said due to the rot in the airline, it is being forced to make refunds of between N60m and N75m to dissatisfied customers on a weekly basis. The Chief Executive Officer, Arik Air, Capt. Roy Ilegbodu, said the refund... Read More
by Azeez Adeniyi The Asset Management Corporation of Nigeria (AMCON) has said Arik Air was indebted to the tune of N375 billion naira in local debt before it took over the airline. Addressing a press conference in Lagos on Wednesday, AMCON spokesperson, Jude Nwauzor said the airline was operating without adequate equipment. [Read Also: Arik... Read More
N5billion – EFCC Acting Chairman, Ibrahim Magu seeks this amount worth of compensation from The SUN Newspaper for “libelous imputations and statements” made against him in a story published on the March 25, 2017 edition of the Saturday Sun. $2.14million – President Donald Trump’s childhood home sold to a mystery buyer at this amount on... Read More
by Azeez Adeniyi The Asset Management Company of Nigeria (AMCON) on Monday said it has recovered over N681.5billion from debtors in the last six years of its operation. Managing Director, AMCON, Alhaji Ahmed Kuru said this at an interactive session with judges of the Federal High Court in Abuja. He said the debts were recovered... Read More
From the papers this morning – a Tracklist. Customs intercept N242.6m smuggled drugs – YNaija FG charges ex-gov Suswam, 2 other for diversion of N9.8bn SURE-P, police funds – YNaija Sacrifices of gallant soldiers must not be forgotten – Adesina – YNaija No one harmed in INEC headquarter’s fire – Director – YNaija Court orders seizure... Read More
by Dolapo Adelana Aviation workers have threatened to shut down the operations of Arik Air on Thursday over the airline’s management’s failure to reinstate its sacked members among other issues. They include the National Union of Air Transport Employees, Air Transport Services Senior Staff Association of Nigeria and the National Association of Aircraft Pilots and... Read More
These are the top five stories you should monitor today. How I gave PDP N500m, supported Obasanjo with N100m – Kalu Former Governor of Abia State, Orji Uzor Kalu has said if the Peoples Democratic Party was a company, he would own 90 per cent of its shares. 2. AMCON finally sells Keystone Bank The Asset... Read More
From the papers this morning – a Tracklist. How I gave PDP N500m, supported Obasanjo with N100m – Kalu – YNaija AMCON finally sells Keystone Bank – YNaija Recession: There has been positive signs of economic recovery – FG – YNaija Magu was a victim of power play in the presidency – Shehu Sani –... Read More
by Azeez Adeniyi The Asset Management Corporation of Nigeria (AMCON) has announced the sale of Keystone Bank, one of Nigeria’s commercial banks. In a statement signed by Jude Nwauzor, AMCON head of corporate communications, it said the bank was sold to Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited (the Sigma Golf – Riverbank... Read More
by Azeez Adeniyi The Assets Management Company of Nigeria (AMCON) has said foreign airline operators will be engaged to manage Arik Airline. Managing Director of AMCON, Ahmed Kuru said this during a session with the House of Representatives aviation committee on Wednesday in Abuja. He said the agency has started discussing with foreign airlines and... Read More
The Asset Management Corporation of Nigeria (AMCON) has taken over Odengene Air-Shuttle Services, known more as OAS Helicopters in Lagos following a court order. AMCON had on Tuesday sealed the company at Maryland in Lagos, indicating that the company had been taken over by AMCON. The order on the company’s office reads: “POSSESSION TAKEN TODAY... Read More
The new management of Arik Air has appointed accounting firm KPMG to undertake a forensic and diagnostic audit of the finances of the airline to ascertain the true state of its finances. According to a statement by the new management of the carrier issued on Tuesday, the will among other objectives cover the position of... Read More
The Assets Management Corporation of Nigeria (AMCON) has said it would require N10 billion to fix the rot in Arik airlines. The asset company made the disclosure in a statement signed by its Spokesman, Jude Nwauzor in Lagos. AMCON said it has discovered enormous rot in Arik after taking over the airline last week. It... Read More
The Federal Government has denied speculations that it intends to make Arik Airline the country’s national carrier. On Thursday the Asset Management Company of Nigeria (AMCON) took over the airline, appointing, Captain Roy Ilegbodu, as its new head. Speaking to The Punch on the rumoured plan of the FG to make the airline the national carrier,... Read More
The insurance cover of Arik aircrafts would have expired on February 12 if the Assets Management Company of Nigeria (AMCON) had not taken over, TheCable reports. AMCON had taken over the airline and appointed a new board on Thursday. According to the Federal Government, the action was necessary save the aviation sector from collapse. A... Read More
The Management of Arik airlines on Thursday vowed to challenge the taking over of the airline by the Assets Management Company of Nigeria (AMCON) in court. Senior Vice President, Arik Air, Capt. Ado Sanusi said this at a joint news briefing with the newly appointed receiver Manager, Mr Oluseye Opasanya (SAN) and the airline’s technical... Read More
6 – The number of new ICT hubs that will be set up by the Federal Government, according to the Minister of Communication, Adebayo Shittu. 21,744 – the number of commercial motorists warned by the Federal Road Safety Corps, between October 1st and 6th, for failing to install speed limiters in their buses and trucks.... Read More
Employees of Aero Contractors airline on Wednesday protested the closure of the airline by the Asset Management Company of Nigeria (AMCON). The workers under the aegis of the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN) and National Union of Air Transport Employees (NUATE), marched around the Murtala Muhammed Airport carrying placards. The placards had inscriptions... Read More
As I now read news of Aero contractors suspending all its services from the first day of September (that’s tomorrow), I cannot help but sigh. Partially in relief for this company that has been in and out of distress for almost 16 years and partially because it’s just so sad. Aero is Nigeria’s first airline... Read More
It was a business lunch by a group of investors who had eagerly been waiting for information about the business climate in Nigeria. But their guest, top official of a multinational banking and financial services company, who had spent a week in Lagos and Abuja before returning to the United Kingdom, was evidently in no... Read More
These are the top five stories that drove the conversation today 1. Saraki’s trial stalled The trial of Senate President Bukola Saraki and his deputy, Ike Ekweremadu, has been adjourned as court goes on strike. 2. Public schools in Oyo state remain shut In spite of government directive to reopen public schools in Oyo state, the... Read More
Long embattled Nigerian businessman, Jimoh Ibrahim was temporarily vindicated in court on Monday when the Asset Management Corporation of Nigeria (AMCON) was ordered to return possession of the companies seized from him over an alleged N50 billion debt. A Lagos Federal High Court presided over by Justice Abdulazeez Anka discharged an interim injunction giving AMCON... Read More
It’s another edition of The Slab with Isime. On this edition, Adebayo Emuleomo who has been away for a while, is back to join the rest of the YNaija crew – Chukwukere Okpani and Oreoluwa Peters. Today was about Gov. Ayo Fayose‘s issue with Zenith Bank and the whole begging episode; AMCON‘s seizure of Ben Murray-Bruce‘s assets;... Read More
The Asset Management Corporation of Nigeria (AMCON) has announced that it has in its books, 217 chronic debtors – which include companies and individuals. AMCON has published on its website 100 of the 217 chronic debtors, as directed by the Central Bank of Nigeria (CBN). “Further to our various publications advising debtors to come and settle their obligations... Read More
Asset Management Corporation of Nigeria (AMCON) has been granted an interim injunction against Afrijet Airlines Limited – a company owned by Vitalis Ibe. The injunction was granted by Justice Chuka Austine Obiozor of a Federal High Court in Lagos on Friday. Afrijet is in debt to the tune of N10 billion after the Eligible Bank... Read More
Some members of the Ijaw Youth Council Worldwide (IYC) on Thursday, invaded Rhythm FM radio station in Yenogoa, Bayelsa over internal scuffles within the leadership ranks of the group. The radio station, Rhythm FM, is owned by Senator Ben Murray Bruce who on Thursday forfeited his company, Silverbird groups to the Assets Management Corporation of... Read More
by Simon Utsu Any young man/ woman who gloated(or is still gloating) over Senator Ben Murray Bruce’s political travails in the hands of AMCON, is a young, wicked sadist. Before I’m called me an extremist, let me throw some more light on the above. Long before Kennis Music (the Ogungbe brothers and D1) came on... Read More
Here are the top five stories that drove the conversation today. 1. AMCON takes over Silverbird The Asset Management Corporation of Nigeria (AMCON) has taken over Silverbird Group which is owed by Senator Ben Bruce. 2. Aisha Buhari gives Fayose an ultimatum Wife of President Muhammadu Buhari has told the Ekiti state governor, Ayodele Fayose,... Read More
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