The Asset Management Corporation of Nigeria (AMCON) has made available several properties for sale across key locations, including Lagos, Abuja, Oyo, Plateau, and Rivers states. This move is part of AMCON?s ongoing efforts to manage and resolve non-performing assets acquired from financial institutions.

An advertorial published on Monday in ThisDay Newspaper detailed the properties being offered to the public, which range from commercial office complexes to residential buildings and warehouses.

Among the listings is a warehouse and office block in Ibadan, Oyo State, situated at Km 9, Old Lagos Road, Podo. The site includes additional structures such as a security block, external toilet block, and generator house, occupying approximately 12,802 square meters. In Lagos, AMCON is offering an office complex at 3 Sawyer Crescent, Gbagada, near Corona School. Though primarily residential, the property can be repurposed for office use or as a school, pending necessary approvals.

In Plateau State, the former Hotel Sumiram and Green Restaurant on Secretariat Link Road in Jos is also up for sale. The property comprises a main block with guest rooms and service areas, as well as a rear block featuring a karaoke bar, poolside, garden, and other amenities, covering about 2,568 square meters.

AMCON?s portfolio also includes a five-story commercial building at the Silverbird Entertainment Centre Mall in Abuja?s Central Area, with a lettable space of approximately 15,650 square meters. The agency had previously taken control of this asset in 2016 due to outstanding debts linked to the Silverbird Group.

Other properties include warehouse and office facilities in Port Harcourt, Rivers State, with locations on Aba Road and Okporo Road, as well as several residential units, including three-bedroom flats and detached duplexes in various neighbourhoods.

The agency stated that these properties will be sold through a competitive bidding process, with bids due by July 11. AMCON assured that the schedule for bid openings will be announced in due course, and more information is available on their official website.

This sale initiative follows the federal government?s recent reconstitution of AMCON?s board aimed at improving the management and value recovery of non-performing assets. (The Guardian)

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