Amidst rumors that the private jet that it has put up for sale belongs to either of business moguls, Messrs. Femi Otedola or Ifeanyi Ubah, the Asset Management Corporation of Nigeria (AMCON) has come out to clarify that the Bombardier Challenge 605 jet was its own.
This clarification was made by its Head of Corporate Communications, Mr. Kayode Lambo who said that the plane, valued at about $27m (about N4.18bn) was an investment of the corporation.
The Asset Management Corporation of Nigeria has put up a Bombardier Challenger 605 jet for sale but claims the aircraft does not belong to any of its debtors.
“The plane belongs to AMCON and now we have decided to sell it off.
“It does not belong to either Otedola or Uba. It is an investment,” he said.
AMCON communicated the sale through an advertorial signed by its Head of Corporate Communications, Mr. Kayode Lambo, on Friday.
Both Otedola and Ubah are heavily indebted to AMCON, the government corporation that has been mopping up bad loans from the banking system and was set up in the aftermath of the 2009 banking crisis.
Otedola, Chairman of Zenon Petroleum, had recently made a settlement of transfer of assets to AMCON.
Capital Oil and Gas Industries’ Chief Executive Officer, Dr. Ifeanyi Uba, had also lost control of his company to AMCON over his alleged N48.014bn debt.
It will be recalled that AMCON had, in another advertorial, announced the taking over of Uba’s Capital Oil and Gas over his alleged indebtedness.
The advertorial for the taking over of the oil company appeared alongside that of the proposed sale of the jet.