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Apr 1, 2022 · The Asset Management Corporation of Nigeria (Amendment) Act, 2021 amends the Asset Management Corporation of Nigeria Act No. 4 2010 to extend the tenor of the Resolution Cost Fund, grant access to the Special Tribunal established by the Banks and Other Financial Institutions Act, 2020 and to confer on the Corporation the powers to take ...
Dec 20, 2023 · Hence, the birth of the Asset Management Corporation of Nigeria (AMCON), was established by the Act of the National Assembly of Nigeria in July 2010, with an intended 10-year lifespan. The objective was to detoxify the banking system through the purchase of bad assets, non-performing loans, and liquidity injection into troubled banks.
Apr 2, 2020 · April 2, 2020. Laws of the Federation. ASSET MANAGEMENT CORPORATION OF NIGERIA ACT 2010 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 [19th Day of July, 2010] [Commencement] Enacted by the National Assembly of ...
Apr 19, 2018 · OF THE ASSET MANAGEMENT CORPORATION OF NIGERIA. (1) There is established the Asset Management Corporation of Nigeria (in this Act referred to as “the Corporation”). (2) The Corporation: (a) shall be a body corporate with a common seal, perpetual succession; and. (b) may sue and be sued in its corporate name.
Nov 18, 2019 · LAWS OF THE FEDERATION OF NIGERIA. ASSET MANAGEMENT CORPORATION OF NIGERIA ACT, 2010. [EDITOR’S NOTE: This Act has been amended by the Asset Management Corporation of Nigeria (Amendment No. 2) Act, 2019 and Asset Management Corporation of Nigeria (Amendment) Act, 201 5. ARRANGEMENT OF SECTIONS. PART 1 – ESTABLISHMENT, ETC.
Sep 15, 2023 · AMCON was created to be a key stabilizing and re-vitalizing tool established to revive the financial system by efficiently resolving the non-performing loan assets of the banks in the Nigerian economy. AMCON was created to be a key stabilizing and re-vitalizing tool aimed at resolving the non-performing loan assets.
