AMCON discontinues litigation against Heyden Petroleum
The Assets Management Corporation of Nigeria (AMCON) yesterday said it is not in dispute with Heyden Petroleum. Head, Corporate Communications, Jude Nwauzor in a statement clarified that AMCON and Heyden Petroleum Limited have settled all issues between them amicably, and Heyden Petroleum Limited has demonstrated commitment to meeting their obligations and has been making payments […]
Asset Management Corporation of Nigeria (AMCON)
The Assets Management Corporation of Nigeria (AMCON) yesterday said it is not in dispute with Heyden Petroleum.
Head, Corporate Communications, Jude Nwauzor in a statement clarified that AMCON and Heyden Petroleum Limited have settled all issues between them amicably, and Heyden Petroleum Limited has demonstrated commitment to meeting their obligations and has been making payments accordingly.
“Given this latest development, AMCON has formally discontinued its pending litigation against Heyden Petroleum Limited, particularly Suit No. FHC/AMC/67/2024.
As a responsible debt recovery agency of the Federal Government of Nigeria, it is not the practice of AMCON to engage in a media trial of obligors who are meeting their obligation. Accordingly, the general public is urged to disregard any negative commentaries on the relationship between AMCON and Heyden Petroleum Limited,” the statement said.
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The statement followed a media report that a Federal High Court in Lagos had ordered the corporation to take over the energy firm.