AMCON discontinues litigation against Heyden, says company fulfilling debt obligations

The Asset Management Corporation of Nigeria (AMCON) has revealed that it has discontinued litigation actions against Heyden Petroleum Limited.

The agency in a statement on Tuesday made this known in response to media controversies regarding the status of Heyden in fulfilling its debt obligations.

The statement read, “Our attention has been drawn to a publication in the media regarding the pending litigation between the Asset Management Corporation of Nigeria (AMCON) and Heyden Petroleum Limited.

“We hereby notify the general public that AMCON and Heyden Petroleum Limited have settled all issues between them amicably, and Heyden Petroleum Limited has demonstrated commitment to meeting their obligations and has been making payments accordingly.

“Given this latest development, AMCON has formally discontinued its pending litigation against Heyden Petroleum Limited, particularly Suit No. FHC/AMC/67/2024.

“As a responsible debt recovery agency of the Federal Government of Nigeria, it is not the practice of AMCON to engage in a media trial of obligors who are meeting their obligation. Accordingly, the general public is urged to disregard any negative commentaries on the relationship between AMCON and Heyden Petroleum Limited.”