The Asset Management Company of Nigeria, AMCON, has effectively taken over the National Insurance Corporation of Nigeria, NICON Insurance. NICON Insurance was privatized in 2005 with the core investor having 70 percent shares, and the Federal Government retaining 30 percent. The major investor was alleged to use the assets of the company as collateral for …
Mele Kyari, the Group managing Director (GMD) of the Nigeria National Petroleum Corporation (NNPC) has spoken on the reason the NNPC is acquiring a 20% stake in the Dangote Refinery.According to the GMD, the resolution was engineered by the prospective benefit the business is likely to generate and the relevance of having a decision-making power …
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