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NEWS HEADLINE

Business Philosophy

Asset Management Corporation of Nigeria (AMCON) was established on the 19th July 2010

AMCON Act

This Act seeks to establish the Asset Management Corporation of Nigeria for the purpose

Corporate Overview

Acquire Eligible Bank Assets (EBAs) from Eligible Financial Institutions (EFIs) at a fair value

Our corporate facts

N1.7trillion

worth of Acquired EBAs
Our available assets View All

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.

47.7 MILLION LITRES PETROLEUM PRODUCTS TANK FARM AT IBAFON, APAPA, LAGOS STATE

The tank farm is located within the Ibru Port complex, Ibafon in Apapa area of Lagos state. Apapa is home to the nation’s busiest seaports, tank farms and major container terminals. The facility contains 10 tanks (DPK, AGO and PMS) with a total capacity of approximately 47,700,000.00 litres and 8 loading arms.

Property at Airport Junction Sokoto-Kebbi Maiduguri road, Bado area of Sokoto (Bare land).

The site is an undeveloped land, irregular in shape, level, trim and well drained, bare land with total size of 11.56 Ha. The site is fenced round with wire mesh.

Plot 6, Esther Adeleke, LEkki, Lagos

It has a physically measured area of approximately 3,264.00 square metres

Petroleum Products Tank Farm at Calabar, Cross River State

The tank farm is located in the Export Processing Zone of the Calabar Free Trade Zone, Calabar, Cross River State

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