FG Plans Bridge Bank To Support Struggling Lenders         Nigeria plans to start a fund that will operate a bridge bank to nurse struggling lenders back to health, Bloomberg reported on Monday. The Central Bank of Nigeria will inject N10bn, or an amount that still needs to...

We Owe CBN More Than N4trn, Says AMCON         The Asset Management Corporation of Nigeria has said it owes the Central Bank of Nigeria more than N4tn. AMCON was established by the Federal Government in 2010 to buy bad debts from banks and ensure stability in the...

AMCON In Talks With Pan Ocean To Resolve N240bn Debt         The Asset Management Corporation of Nigeria has said there are ongoing discussions between it and Pan Ocean Group to see how to amicably resolve the oil firm’s N240bn debt through a settlement framework. AMCON said on...

N4bn Debt: AMCON Takes Over Investment Firm’s Assets       The Asset Management Corporation of Nigeria has taken over assets belonging to the chief promoters of Geedee Zulu Investment Limited, Frank Ezuma and Lilian Ezuma, over indebtedness of over N4bn. The Head of Corporate Communications Department, AMCON, Jude...

AMCON Takes Over Hydro Hotels Over N600m Debt     The Asset Management Corporation of Nigeria said it has taken over the assets of Hydro Hotels Limited and its chief promoter over an indebtedness of N600m. The Head of Corporate Communications Department, AMCON, Mr Jude Nwauzor, disclosed this...

AMCON Seeks NASS Support In N5trn Debt Recovery     As its debt portfolio continues to rise, the Asset Management Corporation of Nigeria (AMCON) has called on the National Assembly to support its efforts in recovering the debt of over N5 trillion from obligors. According to the Corporation,...