Author: InvestAdvocate

Asset Corporation buys rescued bank loans

By Stanley Oronsaye, December 17, 2010 The Asset Management Corporation of Nigeria (AMCON) will buy up all non performing loans of the rescued banks by the end of the first quarter of next year.   Foluke Dosunmu, executive director finance, while briefing bank executives in Lagos yesterday said the rescued […]

AMCON to absorb N500 billion loans in Q1 2011

Friday, 17 December 2010, Dr. Ogho Okiti   The Asset Management Company (AMCON) will as from the first quarter of next year, absorb about N500 billion of banks’ non performing loans that resulted from margin loans. Starting with the Central Bank of Nigeria (CBN) intervened banks, the process is expected […]

Profit-taking drags down indices at NSE

By Ademola Alawiye Friday, 17 Dec 2010 The bullish trend recorded in the equities segment of the stock market earlier in the week, was reversed on Thursday, due to profit-taking by investors in some major blue chip stocks. At the close of trading activities, a total of 253.53 million shares, valued […]