Recovery efforts in operations and efficient services at Arik Air received a boost recently with the launch of a new unit to cater for customers and ensure satisfaction nationwide.
It is no longer an exaggeration that there is hardly any major sector of the economy that the Federal Government of Nigeria does not have its feet deep in debt, most of which are long outstanding.
The debt concentration in the books of Asset Management Corporation of Nigeria (AMCON) remains heavy in few hands, as the agency indicated that 350 persons owe it N2.5 trillion.
The Asset Management Corporation of Nigeria (AMCON) has taken over multi-billion naira properties in Lagos, Ogun and the United Kingdom, following an alleged N4,680,343,681 bank debt.
Major stakeholders of Arik Air have begun talks with foreign investors as part of plans to pay debts owed to the Asset Management Corporation of Nigeria (AMCON) and other creditors.
Meanwhile, it also said it is nearing the completion of the sale of Peugeot Automobile Nigeria (PAN) Limited.The move, which is part of AMCON’s strategies to recover huge debt in its books, would see the local car assembly being off-loaded to local investors.
Asset Management Corporation of Nigeria (AMCON) recovered N134 billion in 2016, according to Mr Ahmed Kuru, the Managing Director/Chief Executive Officer.
The order, therefore, mandates AMCON to take over all the assets of Wokson International Limited and Chief William Oki, the promoter of Wokson International Limited, over N5billion indebtedness.
A likely merger and conversion of assets of Arik Air and Aero Contractors is one of the options being considered by the Federal Government (FG) in the buildup to a new national carrier for the country.
A Federal High Court in Lagos, yesterday ordered the Department of State Services (DSS) to bring the detained Chief Executive Officer of Capital Oil and Gas, Dr. Ifeanyi Ubah to court on May 12.
The intervention by the Asset Management Corporation of Nigeria (AMCON), with a fresh fund of N1.5 billion, according to the Chief Executive Officer, of Arik Air, Capt. Roy Ilegbodu....
The Asset Management Company of Nigeria (AMCON) has injected N1.5 billion in Arik Airline Ltd to safeguard its operations since its takeover.