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1. • AMCON

     

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     • AMCON, short for Asset Management Corporation of Nigeria, was established as a governmental agency in 2010, in direct response to both the global financial crisis and the subsequent banking crisis that gripped Nigeria.
     Reference:

     AMCON: History, roles, and function - MakeMoney.ng

2. People also ask

   What is Asset Management Corporation of Nigeria (AMCON)?

   • 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.

   Nigeria: Transitioning AMCON – The Choice Between Winding Down And

   www.mondaq.com/nigeria/wealth--asset-management/1402848/transitioning-amcon--the-choice-between-winding-down-and-privatisation

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   What does asset management company of Nigeria do?

   • The Asset Management Company of Nigeria engages in the activities of holding, managing, and subsequently divesting eligible assets held by banks. Within this scope of operation, the company assumes the responsibility of gathering both the interest on the principal and the due capital for the duration of the transactions.

   AMCON: History, roles, and function - MakeMoney.ng

   www.makemoney.ng/amcon/

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   How did AMCON invest in assets in Nigeria?

   • Although nearly every financial institution in Nigeria participated in asset transfers, AMCON’s portfolio was dominated by assets acquired from a small number of sellers as well as a small number of loans with large face value.

   Asset Management Corporation of Nigeria (AMCON): Asset

   elischolar.library.yale.edu/cgi/viewcontent.cgi?article=1178&context=journal-of-financial-crises

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   When did the AMCON Act become a law in Nigeria?

   • The AMCON Act was approved by the House of Representatives and the Senate and signed into law on July 19, 2010 (Cerruti and Neyens 2016, 116; Makanjuola 2015). The Governor of the CBN had previously proposed the idea of a public asset management corporation in Nigeria in 2004 as a part of the banking reform package.

   Asset Management Corporation of Nigeria (AMCON): Asset

   elischolar.library.yale.edu/cgi/viewcontent.cgi?article=1178&context=journal-of-financial-crises

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3. amcon.com.ngAsset Management Corporation of Nigeria (AMCON)

   amcon.com.ng

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   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.

   • HOME

     Rigs Onome and Oritsetimeyin are part of the Eligible Bank...

   • NEWS ROOM

     Arik Air: Before Asset Management Corporation Of Nigeria...

   • FAQs

     All bids must be submitted alongside executed AMCON Know...

   • CONTACT US

     Lagos Office: 67, Marina Street, Lagos Island, Lagos,...

   • Governance Structure

     Dr. Aminu Mukhtar Dan’amu who recently was appointed to...

   • The AMCON Act

     An act to establish the Asset Management Corporation of...

   • Achievements

     The Loan Management Team classifies loans based on their...

   • About AMCON Disposal

     By virtue of the AMCON Act 2010 enacted by the National...

4. en.wikipedia.org › wiki › Asset_ManagementAsset Management Corporation of Nigeria - Wikipedia

   en.wikipedia.org › wiki › Asset_Management

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   Asset Management Corporation of Nigeria (AMCON) is a body established by the Act of the National Assembly of Nigeria in July 2010 with an intended 10 years lifespan.

   • Annual budget: ₦150 billion estimated cost per annum
   • Formed: 11 July 2011

   • Employees: 437
   • Jurisdiction: Federal Republic of NigeriaPlot 417 Tigris Crescent. Maitama, FCT, Abuja.

5. www.makemoney.ng › amconAMCON: History, roles, and function - MakeMoney.ng

   www.makemoney.ng › amcon

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   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.

6. www.mondaq.com › nigeria › fund-management-reitsAn Appraisal Of The Asset Management Corporation Of Nigeria ...

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   5 days ago · "The Corporation may acquire an interest in an eligible bank asset or an eligible financial institution if the Corporation considers it necessary or desirable to do so and shall acquire any eligible bank asset if so requested by the Nigerian Deposit Insurance Corporation acting in consultation with the Central Bank of Nigeria in pursuance of Section 38(2) of the Nigerian Deposit Insurance Act."

7. elischolar.library.yale.edu › cgi › viewcontentAsset Management Corporation of Nigeria (AMCON): Asset Management

   elischolar.library.yale.edu › cgi › viewcontent

   These losses were compounded by a high level of margin lending, resulting in large numbers of nonperforming loans (NPLs) for Nigerian banks. The government established the Asset Management Corporation of Nigeria (AMCON) in July 2010 to purchase NPLs and inject capital in insolvent banks.

8. www.mondaq.com › nigeria › wealth--asset-managementNigeria: Transitioning AMCON – The Choice Between Winding ...

   www.mondaq.com › nigeria › wealth--asset-management

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   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.