AMCON moves to sell Mainstreet, Enterprise, Keystone Banks

By The Rainbow

The Asset Management Company of Nigeria (AMCON) will on June 15 name financial advisers that will manage the sale of three nationalized banks.

The three banks -  Mainstreet Bank, Enterprise Bank and Keystone Bank – were nationalised in 2011 following mismanagement of bad loans and recapitalised by AMCON.

The  Chief Executive Officer, AMCON, Mustapha Chike-Obi, said in an interview on Thursday that each of the banks would be sold 100 per cent to their prospective buyers.

The AMCON chief said however that AMCON was yet to decide on the best way to proceed.

'We have advertised for a financial adviser who will take charge of the process' said Chike-Obi.

He said the advisers would solicit expressions of interest from prospective investors.