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Q: Functions of asset management corperation of Nigeria
A: Asset Management Corporation of Nigeria (AMCON): Functions of AMCON AMCON shall perform the following functions in order to achieve its objects: a. acquiring Eligible Bank Assets from Eligible Financial Institutions in accordance with the provisions of the Act b. holding, managing, realizing and disposing of Eligible Bank Assets (including the collection of interest, principal and capital due
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Asked 8/13/2012 11:36:15 AM
Updated 8/13/2012 12:14:11 PM
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Asset Management Corporation of Nigeria (AMCON):

Functions of AMCON

AMCON shall perform the following functions in order to achieve its objects:

a. acquiring Eligible Bank Assets from Eligible Financial Institutions in accordance with the provisions of the Act

b. holding, managing, realizing and disposing of Eligible Bank Assets (including the collection of interest, principal and
capital due and the taking over of collateral securing such assets) in accordance with the provisions of the Act

c. paying coupons on, and redeeming at maturity, bonds and debt securities issued by the Corporation as consideration for the acquisition of Eligible Bank Assets in accordance with the provisions of the Act

d. performing such other functions, directly related to the management or the realization of Eligible Bank Assets that
the corporation has acquired

e. Corporation has acquired, including managing and disposing assets acquired with the proceeds derived by the Corporation from managing or disposing of Eligible Bank Assets acquired by it

f. taking all steps necessary or expedient to protect, enhance or realize the value of the Eligible Bank Assets that the
Corporation has acquired

g. performing such other activities and carrying out such other functions which in the opinion of the Board are necessary, incidental or conducive to the attainment of the objects of the Corporation.

..............
Added 8/13/2012 12:14:12 PM
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