We bought performing loans from banks to save them from collapsingAMCON

At the height of the financial crisis that rocked the global economy in 2008, Central Bank of Nigeria pressed for the realisation of the Asset Management Corporation of Nigeria which had been in the pipeline for years. The company was set up to buy non performing loans from banks. It has performed the function to some extent, but there are still issues in the financial services sector to be resolved. Managing Director of the company, Mr. Mustapha Chike-Obi spoke to Financial Vanguard on some of the issues. Excerpts
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