Wema Bank, one of Nigeria’s troubled lenders is battling heavy liquidity crisis despite distraction with the Davido ambassadorship curve. Wema Bank may have a serious challenge withstanding the shocks Nigeria’s fragile economy might throw up as it is currently struggling with a liquidity squeeze. It was gathered that the third-quarter financial result of the bank … Read more
Wema Bank, one of Nigeria’s troubled lenders is battling heavy liquidity crisis despite distraction with the Davido ambassadorship curve. The bank had in November 2021, splashed N1 million to musician, Davido, transgressing the Buhari regime’s ban on the microblogging site. “We heard your GOAT called our name. Well… #ALATgoals #ALATmakessmile. #30BG #30billiongang,” Alat, a digital … Read more
Tunde Ayeni For highly controversial Nigerian businessman, John Olatunde Ayeni, popularly known as Tunde Ayeni, it’s been one day, one trouble. The latest in the plethora of his travails is that he has lost another company, Ibadan Electricity Distribution Company (IBEDC) Limited, a DisCo he purchased in 2013, to the Nigerian government, six years after … Read more
AMCON MD, Ahmed Kuru The Economic and Financial Crimes Commission (EFCC) on Wednesday grilled the managing director of Assets Management Company of Nigeria, (AMCON), Mr. Ahmed Kuru. Kuru was quizzed in connection to alleged diversion of assets. A top official at the anti-graft agency confirmed the development on Wednesday. Kuru has been accused of asset … Read more
A firm, Osigwe Foods and Agro-Industrial Company Limited, has slammed an N8.3 billion suit on Unity bank Plc before Justice Abimbola Awogboro of a Federal High Court in Lagos over alleged breach of contract occasioned by excessive charges and mismanagement of its current account. In an amended statement of claims, the firm is seeking the … Read more
Ahmed Kuru The Economic and Financial Crimes Commission (EFCC) on Wednesday interrogated the managing director of Assets Management Company of Nigeria (AMCON) Ahmed Kuru. It was gathered that Mr Kuru was questioned by EFCC operatives over alleged diversion of assets and selling of seized assets to cronies below valued prices. He was still with the … Read more
A Federal High Court in Abuja has fixed January 24, 2022 for a suit filed by the Asset Management Corporation of Nigeria (AMCON) for a stay of execution of orders granted Jimoh Ibrahim over alleged N69billion debt. On Monday, Justice Okon Abang fixed the date after AMCON’s request for reconsideration of the Court of Appeal … Read more
Following the order of Hon. Justice A.M. Liman of the Federal High Court, Lagos Division, the Asset Management Corporation of Nigeria (AMCON) on Wednesday September 22, 2021, in Ilorin, the Kwara State capital took over the palatial mansion of Alhaji Abdulfatah Ahmed, the former two-time governor of Kwara State over a staggering indebtedness of nearly ₦5billion. Hon. Justice … Read more
The Asset Management Corporation of Nigeria (AMCON) has announced the seizure of properties belonging to Senator Abdulafatai Buhari over a debt of N600 million. In a statement on Wednesday, signed by its spokesperson, Jude Nwauzor, AMCON said Buhari, through his company, Abadat ventures secured a loan from Guaranty Trust Bank (GTB) and rebuffed several reminders to … Read more