CBN Says Would Licence Private Asset Management Companies

By InvestAdvocate

Click here to download full PDF copy of the exposure draft

Lagos (INVESTADVOCATE)-The Central Bank of Nigeria (CBN) said it would licence Private Asset Management Companies (PAMC), according to an exposure draft for the licencing and regulation of PAMCs in Nigeria, signed by Kelvin Amugo, director, Financial Policy and Regulation.

“Given the ever evolving developments in the industry, the decline in international commodity prices with its consequent impact on risk assets in the industry, it has become expedient to proactively widen the space for the management of NPLs through the establishment of PAMCs. This is in line with the CBN’s core mandate of promoting a sound and stable financial system in Nigeria,” the exposure draft document said.