- CBN expresses worry over monetary policy•Wants FG to handle economy
- Daniel storms PDP secretariat, seeks reconciliation
- Nigeria loses $4.3m to crude oil theft in 2 years - NEITI
- UI re-opens Sunday
- Alleged fund misappropriation: Lagos assembly summons commissioners
- PSC retires 13 AIGs
- Oil subsidy: There won’t be sacred cows - FG
- Lawyer arraigned over N36m fraud, remanded in prison
- FG airlifts logistics to troops in Darfur and Liberia
- Saked Lagos doctors: Court to deliver ruling tomorrow
- Sack of professionals caused crash of stock market - Affected staff
- Fulani herdsmen attack: Village head killed, others injured
- Niger assembly impeaches new speaker
- Coal to generate 30% of power by 2015 - FG
- Reps to probe FG insurance on assets, property
MANAGING THE ECONOMY
Monday, 14 November 2011
THE managers of the Nigerian economy are no doubt doing an excellent job.
ACCORDING to the Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr Mustapha Chike-Obi, his company “had restructured and recovered over 10 per cent of the non-performing loans it acquired,” adding that AMCON had tried in the process to balance maximum recovery with “minimum disruption of viable businesses.”
CONVERSELY in the same breath, the AMCON boss reportedly made it very clear that “all debtors on AMCON list were shut out from accessing loans in the sector, stressing that they could no longer access loans in any of the banks.”
PRAY what exactly does ‘disruption’ mean when a business is denied access to loans if not disruption?
Show/hide comments
Show/hide comment form
Subscribe to Daily News