Wednesday , 6 July 2022

Tag Archives: AMCON

FG to banks, huge financial safety nets increases risks, vulnerabilities

FEDERAL Government has urged banks to re-strategize on their risk management methods in the sector as the use of huge intervention funds may not be sustainable in the financial system and would increase their weaknesses. Vice President, Yemi Osinbajo, who spoke at the Nigeria Deposit Insurance Corporation’s 30th anniversary lecture/book launch, on Monday in Abuja bemoaned the huge funds used …

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AMCON denies plans to shut NBML over huge debt

ASSET Management Corporation of Nigeria (AMCON) has denied plans to liquidate the Kano-based Nigerian Braiding Manufacturers Limited (NBML) over loans which have snowballed to over N1b AMCON Spokesman Jude Nwauzor disclosed this in a statement issued over the weekend stating that the Corporation was forced to take over the company, following the refusal of the owners to negotiate terms of …

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