AMCONAsset Management Company of Nigeria (finance)
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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 said.
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.
The AMCON 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.
AMCON said that it would issue an additional NGN500bn in zero-coupon bonds.
AMCON 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.