Fully Reported

The Asset Management Corporation of Nigeria (AMCON) yesterday said that the corporation has so far recovered N644 billion from debtors. Speaking during a media briefing in Lagos, the AMCON Chief Executive Officer, Ahmed Kuru, said the corporation would continue to engage debtors to pay up their debts. The AMCON boss noted that 80 per cent of the bad loans it acquired from banks were beyond redemption. He said: “Financial institutions have primary responsibilities to give out loans, and more than 65 per cent of banks’ incomes are from interest and loans. All these facilities they have transferred to AMCON, 80 per cent of them are already inside the coffin. The only things that supports them are the supporting assets.” Kuru said that AMCON was not set up to manage any business, adding that it does not have the capacity to do so. “We looked at those businesses with us that are not dead, but are in intensive care system. More than 80 per cent of the firms we acquired are in the c...

The chairman of the Peoples Democratic Party (PDP) in Kwara state, Prince Sunday Fagbemi, has urged Senator Ali Modu Sherif to join hands with the Ahmed Makarfi-led caretaker committee to move the party forward. He said Sherif’s cooperation with Makarfi’s committee is necessary since the Independent National Electoral Commission (INEC) has recognised the latter as the authentic national leadership of the party. Fagbemi bared his mind on the leadership crisis rocking the PDP at the national level,during an interview with LEADERSHIP Sunday in Ilorin . It would be recalled that the Fagbemi- led executive of Kwara PDP had at a recent news conference in Ilorin pledged its allegiance to Makarfi’s caretaker committee. He said the state chapter of the PDP will participate actively in the August 17 national convention of the party in PortHarcourt, Rivers state. He said the list of delegates that will participate in the convention has been forwarded to PDP’s national secretariat in ...

Former President, Chief Olusegun Obasanjo, has dismissed a media report purportedly linking him to the Peoples Democratic Party (PDP) national convention. In a statement signed by his media aide Kehinde Akinyemi and made available to newsmen in Abeokuta, yesterday, the former leader blamed the news on mischief makers and irresponsible journalism. Obasanjo said he was at the Shehu Musa Yar’adua Centre, Abuja, on Friday for a programme on the invitation of the Commodities Association Stakeholders, tagged “Zero Hunger Nigeria.” He said, “those who know me know that I have publicly announced my quitting partisan politics and those who will believe the purported story will believe anybody who tells him that his or her mother is not a woman. “If I quit a party when it was alive and seemingly united, how could I go back to a now divided, factionalized party, grasping for breath?” Obasanjo said the statement became imperative to “clear the minds of doubting Thomases and those beh...

President Muhammadu Buhari has once again reiterated his mandate to the security agencies to deal decisively with all acts of banditry and criminality perpetrated in the name of herdsmen/farmers clashes. The President said this Friday in his address at the graduation ceremony of course 24 at the National Defence College in Abuja. “On the matter of herdsmen/farmers' clashes, I wish to state that this Administration will not tolerate or condone acts of banditry and criminality, under any guise. As such, our security agencies have been mandated to deal with such acts decisively. President Buhari also assured that his administration has been working assiduously in conjunction with local and international partners to rebuild damaged communities in the Northeast as well as tackle the underdevelopment and neglect in the Niger Delta area by correcting the ills of the past and assuaging inherent grievances. President Buhari told the graduating participants to see thei...

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