AMCON clarifies position on Pan Ocean’s N240bn debt


The Asset Management Corporation of Nigeria (AMCON) has said that it is yet to finalise an ‘out-of-court settlement’ with the management of Pan Ocean Group, over the latter’s N240 indebtedness. In a statement signed Wednesday in Lagos, Jude Nwauzor, the head, corporate communications, AMCON,  “Justice A.M. Liman in suit No. FHC/L/CS/722/20 ordered AMCON and its assigned designate to take over several oil mining and oil prospecting licenses that are exemplified by OML 147 (formerly OPL 275), OML 152 and OML 98 respectively. “The order also mandated AMCON to take over…

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