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Get to know asset management corporation of nigeria

The Asset Management Corporation of Nigeria (AMCON) was established on July 19, 2010, through the AMCON Act signed into law by the President of Nigeria. It was created as a key stabilizing and revitalizing tool in response to the 2009 banking crisis to revive the Nigerian financial system. AMCON's primary mission is to acquire Non-Performing Loans (NPLs) from eligible financial institutions, efficiently manage the assets backing these loans, and dispose of them at a fair market value to recover debts and restore stability to the banking sector. It functions as Nigeria's "bad bank," helping to clean up the balance sheets of commercial banks so they can resume lending and contribute to economic growth.

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asset management corporation of nigeria

Nigeria

Founded in

2010 (16 Years)

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FTD LIMITED

(505 reviews)

British Virgin Islands

2017

(9 years)

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A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.