Friday, 25 January 2019

AMCON seeks new investors to take over Polaris bank

The Asset Management Corporation of Nigeria is seeking new investors to take over Polaris Bank

AMCON spokesman, Jude Nwauzor said the bank will be put up for sale after elections next month.

Polaris Bank was set up last year to take over the assets of Skye Bank Plc, which collapsed and had its operating licence revoked by the Central Bank of Nigeria.

The Bank was then transferred to the state-owned AMCON for sale to investors.

Jude Nwauzor said the corporation was seeking to recover debts owed to Polaris that were non-performing and had asked for proposals on repayment.

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Ojolola Blessing Owowumi is the founder and editor of OmowumisBlog. He loves to share education news from various sources to keep readers informed. Learn more about her here and connect with her on Facebook and Google +

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