Eight commercial banks contributed N53.52 billion to the Asset Management Corporation of Nigeria's (AMCON's) sinking fund in 2013. Checks by the News Agency of Nigeria (NAN) indicated that the banks were Zenith Bank Plc, Union Bank of Nigeria Plc, Skye Bank Plc, United Bank for Africa (UBA) Plc and First City Monument Bank.
Others are FBN Holdings Plc, Sterling Bank Plc and Diamond Bank Plc. The Central Bank of Nigeria (CBN) and the banks in 2011 had signed a Memorandum of Understanding (MoU) for the establishment of a sinking fund.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article