The Asset Management Corporation of Nigeria (AMCON’s) impressive performance over the years is clearly as a result of hard work by many players. The visionary leadership provided by a thorough-bred banker Ahmed Kuru has been a fundamental factor. So has the close cooperation of key financial regulatory institutions and very important stakeholders –Federal Ministry of Finance, CBN, NDIC and SEC. Underpinning the success of AMCON has been the adoption of a liquidation option that safeguard depositors’ funds and reassure investor confidence in the management of our financial crises.
Whenever there is a crisis in any of our money banks, NDIC is likely to be the first to uncover it. CBN will then move to reorganize the bank’s management, If the crisis persists, it may revoke the bank’s license, and NDIC will return to give a prescriptive remedy—nowadays a bridge bank liquidation option— whereupon AMCON is called to assume the bank’s liabilities, inject funds and…
