The Asset Management Corporation of Nigeria (AMCON) has denied ordering the closure of Providence High School, Enugu, blaming overzealous persons for locking up the gates and allegedly assaulting a male staff of the boarding school.
AMCON’s Head of Corporate Communications, Jude Nwauzor, who spoke with journalists in Enugu, said the corporation would never make enforcement in schools, religious organisations and hospitals based on their peculiar nature, stressing: “Taking possession means showing presence and placing notices of the assets in writing.”
Criticisms had trailed reports of locking the gates of the boarding school with 344 female students by officials of the corporation who were on enforcement over alleged loan of N7.6b obtained with the school’s facilities by the original owner and others some years ago.
• Professionals want assets valued before sale, concession
• Not adhering to procurement law is illegal, says Wike
• ‘It’s against fiscal responsibility to sell capital assets for recurrent purposes’
Hopes of the Federal Government raising tangible earnings from the sale of some national assets towards financing the N13.5 trillion 2021 budget may be far from reality, going by the value of the assets, already described as liabilities and dead.
With a deficit of N6.1 trillion in the 2020 budget and possibilities of a higher value beyond the estimated N5.2 trillion by the end of 2021, if earnings do not improve, getting assets sold or concessioned without valuation may further weaken prospects of better earnings from such assets.
AMCON Distributing Company , an Omaha, Nebraska based consumer products company, is pleased to announce fully diluted earnings per share of $5.57 on net income available to common shareholders of. | January 19, 2021
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Okechukwu Nnodim
The Asset Management Corporation of Nigeria has reached an advanced stage towards launching a multibillion naira airline by pooling together its aviation assets especially planes in debt-ridden Arik Air and Aerocontactors Airlines, findings by
Sunday PUNCH have revealed.
The new international airline, to be named Nigeria Eagle, may take to the sky with at least 10 planes as early as June, according to insiders who spoke on condition of anonymity because they were not authorised to speak on the matter.
AMCON is expected to make an official statement on the deal very soon.
It was learnt that AMCON, a Federal Government-owned bad debt manager which owns controlling stakes in both Arik and Aero, chose to establish the new airline as a clever means of wriggling out of the multibillion naira liabilities currently hanging on the two carriers.
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Kayode Oyero
Indigenous debt-ridden airline, Arik Air, has refused to speak on the move by the Asset Management Corporation of Nigeria to use its aviation assets especially planes to launch a multibillion naira airline.
The PUNCH had exclusively reported that the new international airline planned by AMCON, to be named Nigeria Eagle, may take to the sky with at least 10 planes as early as June, according to insiders.
It was also learnt that AMCON, a Federal Government-owned bad debt manager which owns controlling stakes in both Arik and Aero Contractors, chose to establish the new airline as a clever means of wriggling out of the multibillion naira liabilities currently hanging on the two carriers.