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AMCON Re-opened Silverbird Galleria and Rhythm FM

Last week, we posted here about the lock down of media group, Silverbird owned by businessman and politician, Ben Murray - Bruce and his family. After one day of lock down by officials of Assets Management Corporation of Nigeria - AMCON, some business sectors of the Silverbird Group re-opened for business as usual on Friday June 24

In his reaction to the takeover, Mr. Murray- Bruce said his businesses are going through "tough times." He sued for calm, saying, "the situation is being resolved and things will be back to normal." They however, announced their return on air....

"We thank you for your patience and understanding at this time. But Murray-Bruce and his brothers would not be in charge of running the businesses," said Kunle Adegoke, an attorney working with Muiz Banire, the debt recovery manager overseeing the takeover. Adegoke told Premium Times on Friday evening that the reopening of the businesses should not come as a surprise to Nigerians. He said they were only repossessed by the authorities, but, not liquidated. The lawyer said AMCON would continue to superintend the affairs of the businesses in order to make them more effective and profitable but added that Murray-Bruce and his brothers would be carried along in the day-to-day running of the businesses.

"That is true. The purpose of Receivership is to ensure the businesses are run consistently and to recover the loan that is outstanding against the three companies.
"The receiver has taken over the finances of the organisation together with the administrative office," Adegoke said.

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Posted by Muyiwa

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