AMCON appoints agents to recover bad loans
The Asset Management Corporation of Nigeria has concluded the appointment of Asset Management Partners to help it resolve the over 6,000 accounts with loan balances of N100m and below.
A statement from the Corporate Communications Department of AMCON said the AMPs would, among other things, work with the corporation in tracing, identifying and locating obligors with the intent to resolve their outstanding indebtedness.
They will also be involved in tracing, identification and location of assets of obligors (both pledged and unpledged) to enhance the Eligible Bank Assets value and achieve set recovery objectives, negotiation of settlement and restructuring terms with identified obligors in line with approved guidelines. Read more…
N5bn to SMES in agro-processing sector
The Bank of Industry on Wednesday put the funding support to about 242 entrepreneurs in the North-Central region at
N5bn. It said out of this amount, N1.5bn was disbursed to 62 SMEs in the agro-processing sector in the 2016 fiscal period alone.
The Managing Director, BOI, Mr. Waheed Olagunju, gave the figure while speaking on the sidelines of the BoI’s North-Central Regional Customer Forum in Abuja.
The forum, which was organised by the bank to interface with its customers in the region, had as its theme:” Nigeria’s industrialisation — our collective responsibility.” Read more…
UBA secures $150mn credit line from AfDB
The African Development Bank Group (AfDB) and the United Bank for Africa (UBA) on Wednesday, November 30, signed a loan agreement worth $ 150 million to finance infrastructure and small and medium enterprises (SME) projects, including women-owned enterprises, in Nigeria. Read more…
Ajibola sworn in as CIBN president
The Chartered Institute of Bankers of Nigeria at its Annual General Meeting held recently elected Professor Segun Ajibola as its 19th President and Chairman of Council.
`Ajibola will oversee the affairs of the institute for the next two years, bringing to the fore his relevant industry experience and result-oriented approach to issues having served in numerous capacities towards the growth of the institute and the banking industry. Read more…