Who is AMCON? Why Does AMCON take over some properties?

[Khaki]

I have been seeing many properties with stamped court order stating: TAKEN OVER BY AMCON.

Can someone explain who AMCON are and why they take over properties?

Thank you.

[Jared]

AMCON is Asset Management Company of Nigeria, and among many thing, one of the things they do is buy or take over bad loans and as well property pledged to it.
So next time you see a property taken over by AMCON, the owner must have pledged the property to cover a loan that went bad and the loan has been taken over by AMCON.

Thank you.

[B7]

[Ernest]

Nice