Receiver Manager News Today

NG Eagle, the controversial start-up airline created by the Receiver Manager of the Asset Management Corporation of Nigeria (AMCON) to start his own airline from the assets of Arik Air may have run into another bad weather, SaharaReporters has learnt.

An octogenarian and retired gynaecologist, Dr. Albert Ndulue has accused NICON Trustees Ltd of using fake land documents to take possession of a plot of land he bought at Alma Estate in 1991. Dr Ndulue told SaharaReporters how he bought the site and obtained all the appropriate documentation from the Lagos State government, including a Certificate of Ownership (CofO) and the Governor's consent, before beginning construction on the plot of land.

There is controversy surrounding the taking off of NG Eagle, an airline reportedly set up by the Asset Management Corporation of Nigeria (AMCON), SaharaReporters has gathered. SaharaReporters learnt that the airline had wet leased two Airbus aircrafts to start commercial operations on December 1, 2023. This is however against the Nigerian aviation regulations which states that a commercial airline cannot start up with wet leased aircrafts but with Nigerian registered (5N) aircraft.

860 acres equivalent to the size of a small village are of interest to the French real estate group, PR Capital. The latter is the fourth claimant for these lands judged by opponents of this project to have inestimable ecological value. Back in time.

Future Energies Africa (FEA) has announced its takeover of the Kano Electricity Distribution Company (KEDCO), after instituting a court order to halt its sale to another company by the federal government. Recall that the Nigerian Electricity Regulatory Company (NERC) had in August said it received a request for ‘No Objection’ confirmation from Receiver Manager appointed…

While it is not the focus of AMCON to engage in needless media squabbles, as several of the issues in the article are sub judice, considering factual

The shareholders of Arik Air Limited have slammed the Managing Director of the Assets Management Corporation of Nigeria (AMCON), Alhaji Ahmed Kuru, for allegedly using misinformation and deliberate fabrication of falsehood to run the company aground. The shareholders said the Arik Air under AMCON’s receivership operated only two aircrafts and the Arik Hangar in Lagos was a static display of 14 abandoned new generation aircraft while the rest had “either been cut to pieces, sold, and shipped ...

Shareholders of Arik Air have debunked the claim by AMCON) that it was indebted to lessors and financial institutions.

Human rights lawyer, Femi Falana (SAN), who is also Arik Nigeria Limited’s lawyer has asked the Economic and Financial Crimes Commission (EFCC) to provide the certified true copy of its probe of Kamilu Omokide, the Receiver Manager appointed by the Assets Management Corporation of Nigeria (AMCON), for Arik Nigeria Limited, on his alleged sale of assets amounting to over N120 billion.

There is confusion over who will take charge of the Kano Distribution company (KEDCO) after the resell of the 60 percent shares to the company to new owners. According to sources, the federal government has approved the sale of the company to Future Energies Africa (FEA) Limited but the Nigerian Electricity Regulatory Commission in an…