AMCON Refutes Alleged Takeover Of Heyden Petroleum

The Asset Management Corporation of Nigeria (AMCON) has denied the alleged takeover of Heyden Petroleum Limited over debt.

AMCON, in a statement by Jude Nwauzor, Head of Corporate Communications, said Heyden Petroleum Limited has amicably settled all issues and demonstrated commitment to meeting their obligations and has been making payments accordingly.

The corporation noted that it has formally discontinued its pending litigation against Heyden Petroleum Limited in suit no. FHC/AMC/67/2024.

AMCON said that although it was not the practice of the corporation to engage in a media trial of obligators who are meeting their obligation, but it became pertinent to sensitize members of the public about the negative insinuation between AMCON and Heyden Petroleum Limited.

Meanwhile, Heyden Petroleum has described as misleading and detrimental a media report the purported takeover of the Petroleum company by AMCON.

The Petroleum company said it enjoyed a robust, healthy and subsisting relationship with AMCON, stressing that it is in full control of its assets and operations.

Heyden noted that, as an entity, it is financially stable to meet and discharge all its obligations to her customers and creditors.