AMCON SEEKS REINTRODUCTION OF FAILED BANK ACT

Written by on March 21, 2019

The Asset Management Corporation of Nigeria (AMCON), has expressed worry over the resurgent huge toxic loans in the banking sector.

This was made known today by the Managing Director, Ahmed Kuru, who called on the Nigerian authorities to revisit the Failed Bank Act so the banking sector would be made to account for their actions.

Kuru, while speaking to officials of Risk Management Association of Nigeria, who paid a visit to AMCON’s Lagos office urged banks to strengthen their risk management framework to stem the negative growth.

He further said the reintroduction of the Failed Bank Act into the country’s financial system would not only curtail the current trend of financial recklessness on the part of some bankers, however, it would bring discipline to the banking industry in general.


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