All posts tagged "AMCON"

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  AMCON Plans to Boost Bond-Sale Limit by 50%

  Asset Management Corp. of Nigeria, which buys non-performing debt from lenders in the West African nation, wants to raise the amount of bonds it is allowed to sell by 50 percent to 4.5 trillion naira ($29 billion)....

  • Posted August 31, 2011
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  Five rescued banks to call EGMs by Sept 30 – AMCON

  Nigeria’s state asset management company (AMCON) said it expects five of the nine banks that were bailed out for $4 billion to call extraordinary general meetings by Sept. 30, so shareholders can vote on recapitalisation deals signed...

  • Posted August 16, 2011
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  AMCON appoints new Management for Nationalised Banks

  Assets Management Corporation of Nigeria (AMCON) has appointed new managements and boards for Mainstreet Bank Ltd, Keystone Bank Ltd and Enterprise Bank Ltd, the three bridge banks set up by the Nigeria Deposit Insurance Corporation (NDIC) to...

  • Posted August 8, 2011
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  AMCON to run 3 Nationalised Banks for 2-3 years

  Nigeria’s state asset management firm AMCON will be the major shareholder in three nationalised banks that failed to recapitalise following a 2009 bailout for at least two to three years, the central bank said on Saturday. AMCON,...

  • Posted August 6, 2011
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  Wema Bank ready for regional banking

  Wema Bank has said the capital currently at its disposal is above the minimum required regulatory capital to operate as a commercial bank with regional authorisation. In a statement jointly signed by the Acting Head, Corporate Communications,...

  • Posted April 26, 2011
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  AMCON to list N1.7tn zero coupon bond today

  The Asset Management Corporation of Nigeria will today list 1.7 billion zero coupon bond 2013 Series 1 at the Nigerian Stock Exchange. According to a statement from the NSE, the 1.7 billion zero coupon bond will be...

  • Posted April 21, 2011
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  CBN Forex Supply Forces Demand to Drop

  Concerned that the violence,  which erupted after Saturday’s Presidential election may push up demand for foreign exchange in the country, the Central Bank of Nigeria (CBN) Wednesday increased its supply of foreign exchange at the Wholesale Dutch...

  • Posted April 21, 2011
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  Rescuing banks from web of bad debts

  THE concept of banking, essentially, though nebulous, revolves around management of money, credit and investments. It is one of the oldest professions in the world and credit is at the heart of the business. The key functions...

  • Posted April 11, 2011
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  Rescued Banks Intensify Debt Recovery Drive

  Rescued banks in the country have intensified their debt recovery drive ahead of the June, 2011 recapitalisation deadline that has been fixed by the regulator. Despite the activities of the Assets Management Corporation of Nigeria (AMCON), THISDAY...

  • Posted April 7, 2011
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  Nigeria targets 5% bad loan ratio for banks

  THE Central Bank of Nigeria (CBN) has said that it would target a non-performing loan ratio of 5 per cent across the banking sector after Asset Management Corporation of Nigeria (AMCON) absorbed lenders’ existing bad loans. AMCON...

  • Posted April 7, 2011
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