Posts Tagged ‘AMCON’

AMCON Is Not Part Of Any National Carrier Plans – AMCON MD

The Asset Management Corporation of Nigeria (AMCON) has dismissed insinuations that it is planning to use the assets of Aero Contractors and Arik Air, two troubled airlines under its management, to establish a national carrier. AMCON has also said it would publish names of recalcitrant debtors this week, noting that this will follow its earlier […]

ARIK SHAREHOLDERS TO COURT: Declare AMCON’S Receiver and NCAA liable for likely Air Crash

Shareholders and Directors of Arik Air Limited acting through Sir Joseph Arumemi-Ikhide, Chris Ndulue, Dr. Michael Arumemi-Ikhide and Engineer Sangowawa Olubiyi have filed a new Suit filed at the Federal High Court Lagos on the 27th of March 2017 through their lawyer, Mr. Babajide Koku (SAN) . They have prayed the Court amongst several reliefs […]


The Federal High Court in Lagos has deferred rulings till May 15, 2017 on two preliminary objections stemming from the takeover of Arik Air Limited by the Assets Management Corporation of Nigeria. AMCON had on February 8, 2017 following a Court Order announced its takeover of Arik Air Limited. Mr. Oluseye Opasanya (SAN) of the […]

FG takes over Arik Airlines

The Federal Government on Thursday announced a lifeline to financially distressed Arik Airlines to continue to keep it as a going concern in the aviation industry. The management of the Asset Management Corporation of Nigeria, AMCON, said the decision to intervene clearly underscores the government’s commitment to instill sanity in the country’s aviation sector to […]

Silverbird Group Reopens After Face-off With AMCON

Activities have resumed at Silverbird Group, owned by Senator Ben Murray Bruce. The Assets Management Company of Nigeria, AMCON, took over the company, Thursday, for allegedly owing the government agency about N11billion. Silverbird TV and Rhythm FM station also stopped live transmission of its programmes. Guests and staff were equally asked to vacate all premises […]

Sokoto Govt. Clears N1.5Bn AMCON Debt, Retakes Possession of Furniture Company

The Sokoto State government said it has paid the debt owed Assets Management Company of Nigeria (AMCON) and has retaken possession of the state furniture company. The state also announced that it has opened discussion with some German and Kenyan investors ready to bring funds to revive the company’s operations. The furniture factory, established in […]