The Asset Management Corporation of Nigeria (AMCON) is to
seek new investors to take over Polaris Bank Limited after elections next
month, adding that it is taking stock of the bank’s assets ahead of a sale.
for AMCON, Mr. Jude Nwauzor, told Reuters that: “The election season has slowed
investors. AMCON has previously sold three other
nationalised banks. The AMCON spokesman said the corporation was seeking to
recover debts owed to Polaris that were non-performing and had asked for
proposals on repayment.
was set up in 2010 to take on non-performing loans from banks as part of the
country’s efforts to resolve a financial crisis at that time.