Nigeria: AMCON set to close N1.4trn banks’ capital shortfall

Nine of the ten banks the Central Bank of Nigeria (CBN) rescued in 2008 will see their capital shortfall of N1.4 trillion closed today, as the Asset Management Corporation of Nigeria (AMCON) takes over their toxic assets worth N2.43 trillion. The tenth bank – Equitorial Trust Bank (ETB) – has been returned to its shareholder, Mike Adenuga, to recapitalise.

Read the full article at Business Day