AMCON disowns media stories on purported response to Grant Properties’ allegations

The Asset Management Corporation of Nigeria (AMCON) in a statement Tuesday said media stories making the rounds regarding its response to a pending debt-related issue between it, some banks and one Olajide Awosedo, chairman of Grant Properties Limited are all “barefaced falsehood”.

Specifically, the bad bank refutes a purported “AMCON response” in some sections of the online media, which is being presented to the public as AMCON’s reaction to allegations from Grant Properties Limited.

“The general public is hereby informed that these stories are barefaced falsehood and the Corporation wants to put on record that it did not issue a press statement or a rejoinder in reaction to the said inaccurate stories,” the statement read.

“Pursuant to our mandate, AMCON would not join issues with obligors on the pages of newspapers and as a law-abiding recovery agency of the Federal Government of Nigeria, we are guided within the confines of the law and would continue to act accordingly. The public should please disregard this falsehood,” it added.

AMCON, its receiver manager and some commercial banks have been brought to the center of a media circus owing to the allegations of Olajide Awosedo, chairman of Grant Properties Limited, that part of the collateral used to obtain loan from some banks has been infringed upon and was not transferred with the loan when AMCON bought it over.