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The Asset Management Corporation of Nigeria (AMCON) says it has settled all issues with Heyden Petroleum and withdrawn its lawsuit against the oil company.<\/p>\n\n\n\n

AMCON\u2019s management spoke in a statement on Wednesday in response to a report on the litigation between both organisations.<\/p>\n\n\n\n

On November 5, an online report claimed that a federal high court in Lagos ordered an interim takeover of Heyden Petroleum Limited by AMCON over alleged bankruptcy.<\/p>\n\n\n\n

Refuting the claim, the corporation said the oil and gas firm has demonstrated commitment to meeting its obligations and has been making payments accordingly.<\/p>\n\n\n\n

\u201cOur attention has been drawn to a publication in the media regarding to the pending litigation between the Asset Management Corporation of Nigeria (AMCON) and Heyden Petroleum Limited,\u201d the statement reads.<\/p>\n\n\n\n

\u201cWe 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.\u201d<\/p>\n\n\n\n

In light of the recent development, the corporation said it has officially withdrawn its pending litigation against Heyden Petroleum Limited, particularly suit no. FHC\/AMC\/67\/2024.<\/p>\n\n\n\n

\u201cAs 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,\u201d the corporation added.<\/p>\n\n\n\n

AMCON urged the general public to disregard any negative remarks regarding its relationship with Heyden Petroleum Limited.<\/p>\n