L
LequteMan
Guest
The Asset Management Corporation of Nigeria (AMCON) has declared a loss of N822.9 billion for the year ended December 2012.
AMCON’s Managing Director/CEO Mustafa Chike-Obi, who broke the news yesterday at a media briefing in Lagos, attributed the loss to provisions made for impaired assets and discount on bonds issued to finance its operations.
The corporation’s total outstanding debt stands at N5.7 trillion, out of which N3.6 trillion is held as bond by the Central Bank of Nigeria (CBN). About N1.7 trillion of the bonds would be redeemed by December 31, 2013.
Source: The Nation
see more at http://thenationonlineng.net/new/amcon-declares-n822b-loss-2/
AMCON’s Managing Director/CEO Mustafa Chike-Obi, who broke the news yesterday at a media briefing in Lagos, attributed the loss to provisions made for impaired assets and discount on bonds issued to finance its operations.
The corporation’s total outstanding debt stands at N5.7 trillion, out of which N3.6 trillion is held as bond by the Central Bank of Nigeria (CBN). About N1.7 trillion of the bonds would be redeemed by December 31, 2013.
Source: The Nation
see more at http://thenationonlineng.net/new/amcon-declares-n822b-loss-2/
