AMCON returns Standard Company to Imo state government


As part of its strategy to partner, support and help revitalise businesses in its portfolio over huge debt, the Asset Management Corporation of Nigeria (AMCON) in Abuja recently. The corporation handed over the original title documents of Standard Shoe Company Limited, a factory co-founded by the Imo State government to governor Hope Uzodimma.

This fact is contained in statement made available to The Trumpet recently and signed by its Public Communications Manager, Jude Nwauzor. The statement said the handover of the asset to the Imo State government following the full resolution of the indebtedness of Standard Shoe Company Limited to AMCON, ever since it took over the factory.

Dr Uneze of AMCON as assets are returned to Imo State

The statement said AMCON had continued to engage the government of Imo State, because the government of the critical impact of resuscitating such a massive factory would make in the manufacturing sector of Nigeria’s economy.

Executive Director in charge of Assets Management, Dr. Eberechukwu Uneze, who presented the documents to Governor Uzodimma on behalf of the Managing Director and Chief Executive Officer (MD/ CEO) of AMCON, Ahmed Lawan Kuru, said the corporation was happy that the Imo State government under the leadership of Uzodimma finally resolved the indebtedness with AMCON.

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He said this will lead to improvement in the internally generated revenue of Imo State, which is in line with AMCON mandate. Uneze commended Governor Uzodimma for making efforts to resolve the outstanding loan obligation owed AMCON, saying: “We appreciate your effort because other governors in Imo State have come and gone, but none of them had made this much effort to resolve the debt issue. You have made an impact to boost the state’s economy.”

In his acceptance speech after signing and receiving the documents, on behalf of the government and the people of Imo State, the governor, who recounted the pleasure he had with AMCON through the negotiation process, encouraged other obligors to approach AMCON freely and willingly, as the corporation was not hostile, adding that it was only interested in their recovery mandate and genuine growth and overall development of the country.

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