Business World Intelligence - http://businessworldng.com/web
Asset Mgt Coy to Take-off with N250bn Capital Base
http://businessworldng.com/web/articles/1021/1/Asset-Mgt-Coy-to-Take-off-with-N250bn-Capital-Base/Page1.html
By Simeon Ogoegbulem
Published on November 16th, 2009
 
The proposed Assets Management Company (AMC) would be floated with a capital base of N250 billion. BusinessWorld Intelligence can disclose that the equity will be held between the Central Bank of Nigeria (CBN) and the federal ministry of finance Incorporated (Mofi), in the ratio of 60 and 40 per cent respectively.
The proposed Assets Management Company (AMC) would be floated with a capital base of N250 billion. BusinessWorld Intelligence can disclose that the equity will be held between the Central Bank of Nigeria (CBN) and the federal ministry of finance Incorporated (Mofi), in the ratio of 60 and 40 per cent respectively.
The N250 billion AMC capital base would enable the company to buy up some of the bad loans from the banks. The Bill for the setting up AMC would soon be presented to the federal executive council (FEC) before being forwarded to the National Assembly for its passage into law.