AMCON to Sell Air Nigeria Assets

AMCON is set to sell the Air Nigeria assets in it's possession confirmed by the Managing Director, AMCON, Mr. Mustafa Chike-Obi, according to the Punch report. According to AMCON, Air Nigeria had belonged to UBA Capital, but AMCON has bought the assets and has decided to sell them in order to recover funds spent in purchasing it. Three Boeing and Embraer planes as well as other assets belonging to Air Nigeria will soon be sold by the Asset Management Corporation of Nigeria, it has been learnt.
The process that will lead to the sale of the assets has been commenced by the bad debt manager, our correspondent gathered. The assets, which were acquired by AMCON several months ago, will be sold to recover the debts owed banks, but which were taken over by the corporation.

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