The Central Bank of Nigeria (CBN) has denied planning to nationalise Unity Bank Plc as alleged by an online news medium.
Reacting to the report, the Acting Director, Corporate Communications Department, CBN, Osita Nwanisobi, described it as, âfake news.â
He said: âThe report is fake news. There is iota of truth in it.â
He added that the public should disregard such news .
The report had claimed that the apex bankâs target examination of Unity Bank showed that the Tier 2 lender is in ,âgrave financial conditionâ, with Capital Adequacy Ratio (CAR) and Non- Performing Loans (NPL) ratio that breach prudential standards.
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By Nume Ekeghe
Five years after the Asset Management Corporation of Nigeria (AMCON) launched the Asset Management Partners (AMPs) scheme, the Managing Director/CEO of AMCON, Mr. Ahmed Kuru has described the initiative as a major tool in the recovery efforts of the corporation and key to its success.
Kuru spoke in Lagos, at a 2-day training for Asset Management Partners (AMPs) of AMCON.
The AMPs scheme of the government agency currently has about 6,000 Eligible Bank Assets (EBAs) at different stages of resolution and about 3,000 matters at various Courts in the country.
Through the AMPs, AMCON said it is essential each of the cases are properly captured as they progress in the Courts.
The Asset Management Corporation of Nigeria (AMCON) has asked its asset management partners (AMPs) to boost efforts on recovery of N5 trillion from obligors.
The good, the merged, and the bad
Anwar Amro / AFP
One year into Lebanon’s economic crisis, country total net losses are estimated at more than 44 billion dollars by the World Bank’s recent report as of early Q2 2020 and as mentioned in the Government reform plan of April 2020 (at a foreign exchange rate estimated at 3,500 Lebanese pounds to the dollar). This results from losses at the Lebanon central bank (BDL), losses in the banking sector, and losses at the government level mainly from the Eurobonds default. In this regard, the banking sector needs a deep restructuring to reorganize its assets and build back the needed trust from its internal and external clients.