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Full-Text Articles in Social and Behavioral Sciences
Asset Management Corporation Of Nigeria (Amcon) Capital Injection, Pascal Ungersboeck, Corey N. Runkel
Asset Management Corporation Of Nigeria (Amcon) Capital Injection, Pascal Ungersboeck, Corey N. Runkel
Journal of Financial Crises
Nigeria experienced the Global Financial Crisis as a dramatic decline in the price of crude oil and a burst stock market bubble. These losses were compounded by a high level of margin lending, resulting in large numbers of nonperforming loans (NPLs) for Nigerian banks. The government established the Asset Management Corporation of Nigeria (AMCON) in July 2010 to purchase NPLs and inject capital into insolvent banks. AMCON injected a total of ₦2.3 trillion (US$15.3 billion) in capital into eight different financial institutions. Five capital injections were designed to bring failing banks to zero net asset value and allow them to …
Asset Management Corporation Of Nigeria (Amcon): Asset Management, Pascal Ungersboeck, Corey N. Runkel
Asset Management Corporation Of Nigeria (Amcon): Asset Management, Pascal Ungersboeck, Corey N. Runkel
Journal of Financial Crises
Nigeria experienced the Global Financial Crisis as a dramatic decline in the price of crude oil and a burst stock market bubble. These losses were compounded by a high level of margin lending, resulting in large numbers of nonperforming loans (NPLs) for Nigerian banks. The government established the Asset Management Corporation of Nigeria (AMCON) in July 2010 to purchase NPLs and inject capital in insolvent banks. In three purchases between December 2010 and December 2011, AMCON acquired loans with face value ₦4.02 trillion ($26.8 billion) for ₦1.76 trillion. As a result, NPLs in Nigerian banks fell from a peak of …