AMCON takes over Gateway Portland Cement

AMCON takes over Gateway Portland Cement

The Asset Management Corporation of Nigeria (AMCON) has taken over Gateway Portland Cement Limited.

This followed an injunction which the federal high court, Abeokuta, granted against the company on Friday.

Charles Adeogun-Phillips, AMCON’s receiver, has taken possession of Gateway Portland Cement Limited factories and facilities located in Abeokuta and Mowe areas of Ogun State over a debt profile of nearly N3 billion.