The Asset Management Corporation of Nigeria (AMCON) was a child of necessity, birthed in 2010 as the defibrillator that would jolt Nigeria’s failing banking system back to life. When the global financial shock of 2008 compounded Nigeria's margin lending, lax supervision, spectacular bank collapse problems, the result was a banking sector drowning in toxic loans. At their peak, non-performing loans consumed 37.2 per cent of Nigerian banks' books, with bad loans reaching as high as N3.7 trillion. AMCON was modelled after successful international
The Asset Management Corporation of Nigeria (AMCON) was a child of necessity, birthed in 2010 as the defibrillator that would jolt Nigeria’s failing banking system back to life. When the global financial shock of 2008 compounded Nigeria's margin lending, lax supervision, spectacular bank collapse problems, the result was a banking sector drowning in toxic loans. At their peak, non-performing loans consumed 37.2 per cent of Nigerian banks' books, with bad loans reaching as high as N3.7 trillion. AMCON was modelled after successful international
