Search results
- The government established the Asset Management Corporation of Nigeria (AMCON) in July 2010 to purchase NPLs and inject capital into insolvent banks. AMCON injected a total of ₦2.3 trillion (US$15.3 billion) in capital into eight different financial institutions.
elischolar.library.yale.edu/cgi/viewcontent.cgi?article=1201&context=journal-of-financial-crisesAsset Management Corporation of Nigeria (AMCON) Capital Injection
People also ask
How did AMCON invest in assets in Nigeria?
Why is Asset Management Corporation (AMCON) the pillar of Nigeria's Financial Stability?
How did AMCON become a national asset management agency?
When did the AMCON Act become a law in Nigeria?
At the time of the establishment of this corporation, the body identified 10 banks with crisis in system asset and responded by the injection of ₦736 billion liquidity to buy up their assets. Among the 10 banks only three banks were unable to meet up and were finally acquired by AMCON and tagged as Bridged Banks: Mainstreet Bank, Keystone ...
Mar 19, 2024 · This article explores the functions of the Asset Management Company of Nigeria (AMCON), established as a pivotal tool for stabilizing and revitalizing Nigeria’s financial landscape by addressing non-performing loan assets. The creation of AMCON was prompted by the persistent increase in non-performing loans within certain Nigerian banks.
- Asset Management Corporation of Nigeria (AMCON): Asset Management
- Public Asset Management Companies – Chapter 6: “The Third Generation: NAMA, AMCON, and SAREB” (Cerruti and Neyens 2016)
- Asset Management Corporation of Nigeria Act, 2010
- Asset Management Corporation of Nigeria (Amendment) Act, 2015
- Asset Management Corporation of Nigeria Website, Achievements
Pascal Ungersboeck Yale School of Management Corey N. Runkel Yale School of Management Follow this and additional works at: https://elischolar.library.yale.edu/journal-of-financial-crises Part of the Economic History Commons, Economic Policy Commons, Finance and Financial Management Commons, Macroeconomics Commons, Policy Design, Analysis, and Eval...
A World Bank Study containing case studies on a number of public AMCs. https://ypfs.som.yale.edu/library/asset-management-corporation-nigeria-amendment-act.
Act establishing the Asset Management Corporation of Nigeria as a public agency for the purpose of resolving nonperforming loans and defining terms such as eligible bank assets. https://ypfs.som.yale.edu/library/asset-management-corporation-nigeria-act.
Amendment extending, among other powers, enhanced debt collection powers. https://ypfs.som.yale.edu/library/asset-management-corporation-nigeria-amendment-act.
Summary of loan acquisition data provided by AMCON. https://ypfs.som.yale.edu/library/achievements.
- Pascal Ungersboeck, Corey N Runkel
- 2021
Jun 30, 2023 · Since establishment AMCON has successfully resolved the non-performing loans (NPL) assets of several organizations in the Nigerian economy. So far AMCON has acquired a total of 12,537 NPLs from 22 banks-or what it technically calls Eligible Financial Institutions (EFIs).
Jul 8, 2021 · The Asset Management Corporation of Nigeria ("AMCON") was established in Year 2010 by virtue of the Asset Management Corporation of Nigeria (AMCON) Act, 2010 (the "Act") 1 with a view to ensuring stability in the banking and finance sector. The Act empowered AMCON to purchase toxic assets or non-performing loans ("NPLs") from Nigerian banks so ...
Aug 16, 2021 · The government established the Asset Management Corporation of Nigeria (AMCON) in July 2010 to purchase NPLs and inject capital in insolvent banks. In three purchases between December 2010 and December 2011, AMCON acquired loans with face value ₦4.02 trillion ($26.8 billion) for ₦1.76 trillion.
May 14, 2024 · The AMCON Bill was signed into law on the 9th day of July, 2010 as an Act to establish the Asset Management Corporation of Nigeria for the purpose of efficiently resolving the non-performing loan assets of Banks in Nigeria and for related matters.
