The Asset Management Corporation of Nigeria (AMCON) will on Thursday morning take over the assets of three companies belonging to politician Ben Murray-Bruce and his brothers.
According to reports, the assets are being seized following the failure of Senator Murray-Bruce and his brothers to settle an N11 billion loan owed Union Bank and acquired by AMCON.
AMCON was established on July 9, 2010, as a key stabilizing and revitalizing tool for stabilising the nation’s financial system.
Its enabling law empowers it to acquire non-performing loan assets of Nigerian banks at fair values and then put them to economic use in a profitable manner.