Asset Management Corporation of Nigeria (AMCON) was established on the 19th July 2010
This Act seeks to establish the Asset Management Corporation of Nigeria for the purpose
Acquire Eligible Bank Assets (EBAs) from Eligible Financial Institutions (EFIs) at a fair value
Rigs Onome and Oritsetimeyin
Rigs Onome and Oritsetimeyin are part of the Eligible Bank Assets (EBAs) under Asset Management Corporation of Nigeria’s (AMCON) asset portfolio, acquired pursuant to AMCON’s statutory powers and mandate under the AMCON Act (as amended). The Rigs were acquired through a Loan Purchase and Limited-Service Agreement (‘LPLSA’) dated 2/1/12, with which AMCON bought over First Bank of Nigeria’s (‘FBN’) loan rights and the assets charged, mortgaged, or pledged as security with respect to the unpaid debt of Seawolf Oilfield Services Ltd. (now Seawolf Oilfield Services Ltd. (in receivership) (“Seawolf”) owed to FBN.
Plots of land at Ocean Bay Estate within Ojomu Housing Estate
Bare Land
36/38 OJODU ABIODUN ROAD, ISHERI OJODU LAGOS
Development onsite consist of 4 structures
Plot 2266 off Udo Udoma Crescent, Asokoro
The property is a lake view bare land with no structural development. It is located within the low-density residential district of Asokoro and shares a common boundary to the north with the popular Pen Dam.
PLOT 10B & 11A ROAD A4 CLOSE, CARLTON GATE ESTATE
They are purpose built residential buildings comprising 2Nos 5-bedroom detached duplexes