He was represented by AMCON
Executive Director, Eberechukwu Uneze.
Unfortunately, given the change in management and board of AMCON
, it has not been sold but we are coming up with a new timetable on the sale process.
The other appointed entity is local investment bank Vetiva Capital Management Ltd, AMCON
And to give the "new" banks a shot of getting out of very troubled waters, AMCON
has made a further injection of nearly $4bn.
By the subscription agreement, AMCON
has become the owner of the three banks, and will provide sufficient capital to restore them to the level of capital adequacy stipulated by the CBN.
asset management company was set up to restore them to zero shareholders' funds, while new investors have been sought to bring them up to minimum capital adequacy.
said that it would issue an additional NGN500bn in zero-coupon bonds.
also operates fourteen (14) health and natural product retail stores in the Midwest and Florida.
He said, 'As a matter of fact, apart from coming here (AMCON
) today to carry out our routine oversight function, which necessitated this briefing with the management and staff of AMCON
led by Mr.
The bank raised NGN200bn after it sold assets to AMCON
as part of its opting for a National Commercial Banking Licence.
While some were sceptical about his appointment, those who knew him well were optimistic that he will not disappoint AMCON
and Nigeria's aviation sector.
Apart from being the majority shareholder, AMCON
is also the top creditor of the Nigerian airline.