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AMCON to sell Arik, Aero, others in 2018

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AMCON to sell Arik, Aero, others in 2018

The Asset Management Corporation of Nigeria (AMCON) has said it would be selling some of its assets like Arik Air, Aero Contractors, Peugeot Automobile Nigeria (PAN) and Delta Queen, among others in 2018.

The corporation had in April said it was ready to exit the aviation sector if the owners of the companies pay the debts owed as it did not wish to be into any business apart from its legal mandate.

AMCON had taken over Aero Contractors and Arik Air in 2016 and 2017 respectively.

The corporation, in a statement released by its Head of Corporate Communications, Jude Nwauzor, pointed out that its “2018 financial year may be a very busy year for AMCON as a result of the proposed disposal of these lead assets.”

It added that its 2017 performance was boosted by selling Keystone Bank to new investors for N41 billion.

“I want you to understand that we are sitting on a substantial amount of assets, which we must one way or the other resolve on or before our sunset, which is around 2023/24.

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“As I said earlier, we will deal with some of those key assets very soon like the Peugeot Nigeria Limited in Kaduna, CDL, Aero Contractors, Arik Air and a host of others.

“But I must tell you, as we close in on these individuals and entities that owe us, I want you to know that they will call us names, they will blackmail us, they will threaten us, malign and harass us.

“However, I can tell you that hard as they will try, we will not be deterred in going about our normal duties as mandated by law,” the statement quoted the corporation’s Managing Director, Ahmed Kuru as saying.

 

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