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

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   Sep 15, 2023 · VIEW MORE. 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.

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     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

     Mr. Lucky Adaghe who recently was appointed to serve as...

   • 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...

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

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   Maitama, FCT, Abuja. 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. The concept is in consonance with the operation of the National Asset Management Agency of the Republic of Ireland and Malaysia Pengurusan Danaharta. [1]

   • 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.

3. 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 the NPL acquire a bank in Nigeria?

   • The body acted as the buyer of banks for the Nigerian Government by acquiring the non-performing loans (NPL). The original book value of the acquired NPLs was ₦4.02 trillion at a price of ₦1.76 trillion with a commensurate issue of Zero Bond for the NPL acquired.

   Asset Management Corporation of Nigeria - Wikipedia

   en.wikipedia.org/wiki/Asset_Management_Corporation_of_Nigeria

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4. www.thenigerianvoice.com › news › 168030AMCON hands over Enterprise, Mainstreet banks to new owners

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   Jan 28, 2015 · Both banks had since completed the payments for the 100 per cent shares of the two acquired banks, and are currently conducting a process for seamless integration. - Punch. The Asset Management Corporation of Nigeria (AMCON) has transferred the ownership of Mainstreet Bank Limited and Enterprise Bank Limited to their new owners, Sk.

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

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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. The creation of AMCON was prompted by the persistent increase in non-performing loans within certain Nigerian banks.

6. www.channelstv.com › 2024/02/22 › tinubu-appointsTinubu Appoints New Management Team For AMCON

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   Feb 22, 2024 · President Bola Tinubu has approved the appointment of a new management team for the Asset Management Corporation of Nigeria (AMCON). A Thursday statement by his spokesman Ajuri Ngelale said the ...

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

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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.