Nigeria’s AMCON to Repay 800 Billion Naira of Bonds This Year

Mustafa Chike-Obi, CEO, Asset Management Corporation of Nigeria (AMCON)

The Asset Management Corp. of Nigeria, set up by the West African nation to buy bad debts from banks, said it plans to repay 800 billion naira ($4.9 billion) of bonds due August this year.

That leaves 3.8 trillion naira of remaining debt after 1 trillion naira was redeemed last year, Kayode Lambo, a spokesman for the Abuja-based organization known as Amcon, told reporters in Lagos today.

Read more: Nigeria’s Amcon to Repay 800 Billion Naira of Bonds This Year – Bloomberg.

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