Twenty five foreign and local banks are jostling to buy Mainstreet Bank Limited barely two weeks after the nationalised bank was officially put up for sale by the Asset Management Corporation of Nigeria. AMCON, the bad debt manager created after the banking sector crisis of 2009, on Wednesday disclosed that […]

The Central Bank of Nigeria (CBN) last week deducted from banks N111 billion as contributions to the Sinking Fund of the Asset Management Corporation of Nigeria (AMCON). Known as the Resolution Cost Fund, the sinking fund was set up to assist AMCON to meet its goals and also ensure that […]

The Monetary Policy Committee (MPC) met on 19th and 20th May, 2014 against the backdrop of continuing modest recovery in the US economy, lingering fragile recovery in Europe, slowing output growth in the emerging market economies and possible risks to domestic price stability. In attendance were 9 members including Mr. […]