The Asset Management Corporation of Nigeria (AMCON) has partnered with the Africa International Housing Show AIHS to ensure the general public is enlightened on the best practice for asset acquisition, sales, and opportunities.
In its presentation tagged: “AMCON Assets Disposal: Process, Opportunities and Strategy” during the just concluded 17th edition of AIHS, AMCON the purpose is to engage all key stakeholders in achieving the Corporation’s objective, enlighten the general public on the modus-operandi of the Corporation, showcase the Corporation’s assets for sale, enlighten the public on the process of acquiring assets from AMCON, and to explore partnerships with Mortgage Finance Institutions, Real Estate Developers, Agents, Cooperative Societies and other key stakeholders.
AMCON’s notable achievements so far include the acquisition of Non-Performing Loans (NPL) from banks with an acquisition of over 12,000 NPLs worth N3.6 trillion from 22 banks, recapitalization of banks, stabilization of the financial industry- Circa N4.7 trillion of depositors’ funds and interbank takings were protected and circa 14,000 jobs were saved as a result of its intervention in the banking sector.
While sharing the benefits of acquiring AMCON assets, it noted that individuals or organizations will enjoy competitively priced assets, full disclosure on assets, government-backed transactions, ensuring the good title is delivered, and availability to assist amongst others.
