Mustafa Chike-Obi News

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

Nigeria’s president replaces "bad bank" AMCON CEO Mustafa Chike-Obi with Ahmed Lawan Kuru

Nigeria’s President Muhammadu Buhari has replaced the CEO of the government-owned “bad bank” set up to resolve a financial crisis five years ago. This is Buhari’s second change of leadership of a key state company in a month.

Keystone Bank

Nigeria's AMCON to start Keystone Bank sale after elections

The Asset Management Corp. of Nigeria plans to begin the sale of Keystone Bank Ltd., the biggest of three lenders nationalized after a 2009 financial crisis, in the second quarter after general elections next month.

Air Nigeria plane

Nigeria's AMCON to sell Air Nigeria assets

The Asset Management Corporation of Nigeria (AMCON) has announced that it will sell three Boeing and Embraer planes, along with other assets, belonging to Air Nigeria.

Central Bank of Nigeria (CBN), Abuja

Nigeria's Too Big to Fail Bank Rules Spur Bond Sale Rush

Nigerian lenders are gearing up to sell the most debt in four years to bolster cash reserves, taking advantage of a drop in borrowing costs before the central bank increases how much capital they need to hold.

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

U.S. investor seeks to stop sale of Nigerian bank Mainstreet

A U.S. court has summoned representatives of a body set up to manage Nigeria’s rescued banks in a dispute with U.S. financial firm Intangis Holdings, which says Nigeria has ignored its right to buy one of the nationalised lenders.

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

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

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.