Nigeria: Amcon Sells Off Ibadan Disco for N100bn As Assets Sale Begins

Nigeria: Amcon Sells Off Ibadan Disco for N100bn As Assets Sale Begins

The Asset Management Corporation of Nigeria (AMCON) has commenced sale of assets of debtors with a number of high profile assets already listed for sale in its bid to recover over N4 trillion non-performing loans.

AMCON Sells Ibadan Electricity Distribution Company, Vows to Intensify Asset Recovery - TV360 Nigeria

The Asset Management Corporation of Nigeria (AMCON) has confirmed the sale of its 60% stake in the Ibadan Electricity Distribution Company (IBEDC), as part of renewed efforts to offload distressed assets and accelerate the recovery of toxic loans across Nigeria’s financial system. At a press briefing in Lagos on Thursday, AMCON Managing Director/CEO Gbenga Alade officially announced the sale, revealing that the transaction followed a revised bid…

Nigeria's Arik Air loan was non-performing - ex-AMCON exec

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AMCON sells 60% stake in Ibadan DisCo for N100bn

The Asset Management Corporation of Nigeria (AMCON) has announced that the Ibadan Electricity Distribution Company (IBEDC) has been sold. Gbenga Alake, the Managing Director (DMD) and Chief Executive Officer (CEO) of AMCON, disclosed details of the sale during a media parley on Thursday. In April 2024, the Federal Government said it would sell five power distribution […]

AMCON Sells 60% Stake In Ibadan DisCo For N100bn

Amid flurry of litigations, the Asset Management Corporation of Nigeria (AMCON) has disclosed that the Ibadan Electricity Distribution Company (IBEDC) has been sold. Gbenga Alake, the managing director (MD) and chief executive officer (CEO) of AMCON, disclosed details of the sale during a media parley with media executives on Thursday. The federal government had in April 2024 said it would sell five power distribution companies under the managem…

AMCON announces sale of Ibadan DisCo for N100bn

The Asset Management Company of Nigeria (AMCON) has announced that the Ibadan Electricity Distribution Company (IBEDC) has been sold for N100 billion. AMCON’s Managing Director/CEO, Gbenga Alake, disclosed this at a media parley on Thursday. Apart from IBEDC, AMCON also manages other distribution companies, including the Abuja Electricity Distribution Company (AEDC), Benin Electricity Distribution Company, … The post AMCON announces sale of Ibad…