The management of the Asset Management Corporation of Nigeria (AMCON) has described as fabrication news of the purport liquidation and winding up of the Nigerian Braiding Manufacturers Limited (NBML), a Kano State-based textile company.
The company was recently taken over by AMCON as a result of its non-performing loans valued at over N1billion.
The textile company’s indebtedness led to the purchase of its toxic assets by the Corporation after numerous overtures by AMCON for amicable resolution of the debt to which the Company and its promoters have remained nonchalant over the years, leaving the Corporation with no choice than to seek Justice in Court.
In a statement signed by AMCON’s Head of Corporate Communications, Mr. Jude Nwauzor, the Corporation confirmed that in line with the provisions of the AMCON Act, 2010 (as amended), the Corporation approached the Court and secured an Order enabling it to take possession of the Company through its Receiver Manager, Dr. Yakubu Fobur under whose supervision the Company is billed to resume full production soon.
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