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All posts tagged "AMCON"

  • AMCON recovers N 600 billion Bad Loans, to Commence Sales of Nationalized Banks

    The Asset Management Corporation of Nigeria (AMCON) revealed yesterday that it has recovered N 600 billion of the non-performing loans (NPLs) it bought from banks last year. This amount represents 19% of the N 3.14 trillion it...

    • Posted February 15, 2012
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  • NSE Lobbies AMCON, FG on Margin Loans Debt Relief for Brokers

    At a recent conference on the 2011 Market Review and 2012 Outlook of the Nigerian Capital Markets, the CEO of the Nigerian Stock Exchange, Oscar Onyeama disclosed that the Exchange was seeking relief for stock brokers who...

    • Posted January 24, 2012
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  • AMCON Begins Sale Of Debtors Assets, Engages Valuers To Evaluate Properties

    The Asset Management Corporation of Nigeria (AMCON) may soon commence sale of assets of defaulters as it has engaged 70 professional valuers to determine the appropriate value of assets and properties of borrowers transferred to the bad-assets...

    • Posted December 13, 2011
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  • AMCON Intervention is the Biggest Fraud in History – ISAN

    The Asset Management Company of Nigeria (AMCON), set up to wipe toxic loans off the balance sheets of banks has been described as the biggest fraud in the history of the nation’s financial sector by the Independent Shareholders...

    • Posted December 5, 2011
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  • AMCON Ends Banks Bail Out Stage with N2.78trn

    The second stage towards the bailout process of banks by The Asset Management Corporation of Nigeria (AMCON) ends with a purchase of over N2.78tn total non-performing loans of banks on the face value from 21 banks at...

    • Posted November 8, 2011
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  • President Goodluck Jonathan
    FG Plans Relief Package for Shareholders of Nationalised Banks

    Angry shareholders of three bridge banks who lost their investments due to government’s acquisition of the institutions can now heave a sigh of relief as latest indications from regulators show that the Federal Government may be considering...

    • Posted October 22, 2011
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  • AMCON ends purchase of bad loans Oct. 31 – Chike Obi

    The Asset Management Corporation of Nigeria (AMCON) will complete the acquisition of non-performing loans (NPL) from rescued banks in a N620billion 2009 bailout by October 31, its Managing Director, Mustapha Chike-Obi, said yesterday. At that date, AMCON would have...

    • Posted October 21, 2011
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  • AMCON Waives Right to Appoint Directors in Nationalised Banks

    The Asset Management Corporation of Nigeria (AMCON) has waived its right to appoint directors into the boards of several banks it has significant equity stakes. AMCON has significant equity stakes in post-combination First City Monument Bank Plc, Union...

    • Posted October 3, 2011
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  • Sterling Bank offering ETB and AMCON shareholders 20 percent

    Nigeria’s Sterling Bank said on Thursday it will issue 3 billion new shares to acquire privately-held Equitorial Trust Bank, paving the way for the rescued lender to recapitalize ahead of a central bank September deadline. Sterling’s Chief...

    • Posted September 22, 2011
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  • N3 trillion: Official Cost of bank bailout – CBN

    Over N3 trillion has been spent in resolving the  banking crises that have seen 10 banks undergoing rigorous reforms including change of leadership in eight, the Deputy Governor, Financial System Stability, Central Bank of Nigeria (CBN), Dr. Kingsley...

    • Posted September 9, 2011
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