Ecobank Chairman and Amcon Negotiate Deal

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AMCON has reached an agreement with Ecobank’s Chairman Kolapo Lawson over outstanding debts.

Bloomberg Reports, “Lawson is in “good standing” with the agency, known as Amcon, spokesman Kayode Lambo said by telephone today from Lagos, Nigeria’s commercial capital. The agency “will take other measures,” if Lawson doesn’t honor the terms of the deal, he said, declining to give further information.

“Nigeria’s Securities and Exchange Commission will meet with the board of Lome, Togo-based Ecobank on Aug. 5 to discuss governance, Obi Adindu, a spokesman for the SEC, said by telephone today from Abuja, the Nigerian capital. Ecobank owes Amcon 1.2 billion naira ($7.5 million), the Financial Times reported last month, citing unidentified people familiar with the matter. Agbara Estate, a Nigerian property developer chaired by Lawson, has “long outstanding” debts of 1.6 billion naira with Ecobank’s Nigerian unit, the newspaper said.

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