Bloomberg News

Amcon Acquires Nigerian Bad Debt Worth 3.14 Trillion Naira

December 01, 2011

Nov. 28 (Bloomberg) -- Asset Management Corp. of Nigeria, set up to acquire bad debt in the banking industry, took over 9,000 loans worth 3.14 trillion naira, Chief Executive Officer Mustapha Chike-Obi said today at a conference in Lagos, the commercial capital.

To contact the reporter on this story: Vincent Nwanma in Lagos at

To contact the editor responsible for this story: Dulue Mbachu at

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