#BBB NEWS| President Buhari Approves Appointment Of New AMCON MD And Executive Directors

President Muhammadu Buhari has approved the dissolution of the Executive Management Team of the Assets Management Corporation of Nigeria (AMCON).

President Buhari has also approved the reconstitution of the management team of the corporation as follows:

·       Ahmed Lawan Kuru                  -       Managing Director

·       Kola Ayeye                                -        Executive Director

·       Eberechukwu Uneze                 -        Executive Director

·       Aminu Ismail                             -        Executive Director

Until his appointment today as Managing Director of AMCON, Mr. Ahmed Kuru was the Group Managing Director of Enterprise Bank Limited.

#BBB NEWS| Diamond Bank, Geometric Power, Afrigem, AMCON and StanbicIBTC sign new Transaction Implementation Agreement

Nigeria’s first indigenous fully integrated green-field electricity project, the Aba Integrated Power Project (Aba IPP), scheduled for commissioning in November, recently in Lagos, entered into a new Transaction Implementation Agreement with its sponsors and creditors pursuant to which Afrigem Integrated Utilities Limited becomes a core investor in the integrated electricity power project.

The agreement signing ceremony which was hosted by Diamond Bank Plc, details the investment of Afrigem in the Aba IPP operating companies, the milestones for the restructuring of the existing debt stock of Geometric Power’s project companies, recapitalization and also, the restructuring of the company.

These are expected to help fast-track the commissioning of the plant to takeoff in November and start the generation and distribution of quality electricity power to the residents of Aba metropolis.