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AMCON to announce new Keystone Bank owner this week

Mr. Ahmed Kuru, Managing Director (MD) of the Asset Management Corporation of Nigeria (AMCON) says the management of the corporation has finally concluded plans over the sales of Keystone Bank and will announced the new buyer this week.

Kuru, while speaking on a live TV program over the weekend noted that AMCON who had announced its interest to divest 100 percent stake in the Keystone Bank Limited, since Monday, February15 have been receiving offers from different investors.

Keystone Bank, the last of the three nationalized banks which  is yet to be sold, has continue to give current staffers of the bank a sleepless night, as most of them are now in dilemma.

Investigation by  Business247 has it that few proactive staff of the bank have begun job hunt in earnest, due to the incessant job insecurity that has befall the banking industry in recent time, coupled with the long silence by the corporation.

We further gathered that months after nothing has been done by the AMCON, tension has continue to rise among the employees of the bank as high level of uncertainty surrounding the sales of the lender was said to be responsible for that.

However, AMCON had since February this year said that it was seeking for prospective investors to buy the last of the bridged banks, after it had sold Mainstreet Bank Limited to Skye Bank Plc, and Enterprise Bank Limited to Heritage Bank.

However, Kuru also noted that the corporation has succeeded in recovering N644 billion, stating that the financial institution is on its way to achieving its objective of protecting the economy and retrieving acquired bad debts in the Nigerian financial system.

In his words :“We have so far collected cash of about N644 billion, and we have settle 56 percent of the total N3.7 trillion has also been settled. Settled doesn’t mean money in pocket.

“Like I told you, the challenge is from within; the framework is a bit faulty. You can’t say that you are taking somebody’s liability, and this person’s business has failed, totally failed in the commercial bank, and you are giving the commercial bank liquidity.

Kuru explained that AMCON, with a 10-year lifespan, was not set up to make profit as such, but to deliver a social benefit of saving the economy and businesses from bad debts, adding that it is not out to kill businesses.“The most important thing, like we always tell our debtors is; come and talk to us. We are supposed to help them, we are suppose to support them, AMCON is not out to come and  kill businesses, we are to support businesses, and we have record to show businesses that we have supported and we have continued to support.

“We are supposed to be the economic catalyst; we are supposed to help with the economy. That is why we always advice that let us understand what the issues are, so we can work together, because with 12,700 accounts, it is a basket where opportunities can come up.

“We just want to protect the economy, support the economy and we also want to support the obligors in their businesses, but they must come and talk to  us” he concluded.

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  • Have you ever considered publishing an e-book or guest authoring on other blogs? I have a blog based on the same ideas you discuss and would really like to have you share some stories/information. I know my readers would appreciate your work. If you’re even remotely interested, feel free to send me an e mail.

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  • My programmer is trying to persuade me to move to .net from PHP. I have always disliked the idea because of the costs. But he’s tryiong none the less. I’ve been using Movable-type on several websites for about a year and am anxious about switching to another platform. I have heard very good things about blogengine.net. Is there a way I can transfer all my wordpress posts into it? Any kind of help would be greatly appreciated!

  • With havin so much content and articles do you ever run into any problems of plagorism or copyright violation? My site has a lot of exclusive content I’ve either written myself or outsourced but it seems a lot of it is popping it up all over the web without my agreement. Do you know any ways to help stop content from being ripped off? I’d definitely appreciate it.

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  • Hey there! Do you know if they make any plugins to protect against hackers? I’m kinda paranoid about losing everything I’ve worked hard on. Any suggestions?

  • Greetings! Quick question that’s entirely off topic. Do you know how to make your site mobile friendly? My site looks weird when browsing from my iphone 4. I’m trying to find a theme or plugin that might be able to resolve this problem. If you have any recommendations, please share. Many thanks!

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  • Good day! This post could not be written any better! Reading through this post reminds me of my old room mate! He always kept chatting about this. I will forward this post to him. Pretty sure he will have a good read. Thanks for sharing!

  • Hey there I am so thrilled I found your blog, I really found you by mistake, while I was searching on Aol for something else, Anyways I am here now and would just like to say thanks for a marvelous post and a all round thrilling blog (I also love the theme/design), I don’t have time to look over it all at the moment but I have saved it and also included your RSS feeds, so when I have time I will be back to read a great deal more, Please do keep up the fantastic job.

  • Sweet blog! I found it while surfing around on Yahoo News. Do you have any suggestions on how to get listed in Yahoo News? I’ve been trying for a while but I never seem to get there! Thanks

  • Howdy just wanted to give you a quick heads up. The words in your article seem to be running off the screen in Ie. I’m not sure if this is a formatting issue or something to do with web browser compatibility but I figured I’d post to let you know. The design look great though! Hope you get the problem solved soon. Many thanks

  • Right now it appears like Movable Type is the best blogging platform available right now. (from what I’ve read) Is that what you’re using on your blog?

  • Hello! I realize this is somewhat off-topic but I needed to ask. Does managing a well-established blog such as yours take a massive amount work? I’m brand new to blogging but I do write in my diary every day. I’d like to start a blog so I can share my own experience and views online. Please let me know if you have any suggestions or tips for new aspiring bloggers. Thankyou!