With questions on the future of the bridged banks, the Managing Director of the Corporation has disclosed the Corporation’s intention of taking these banks on the sales block to the nation’s capital market, so as to give the public the opportunity to invest in the institutions. On a roadshow in Lagos, he said that “One of the options available to AMCON is to take these institutions public, so that the Nigerian public can have a chance to invest in them. So, the Corporation wants to look at all the options before it starts thinking of who the ultimate investors would be. It is only on the basis of that advice and examination that we come to the best way of selling these banks”. Mustafa Chike-Obi further said the establishment had decided to weigh all the available options, so as to engender confidence in the process, “The Corporation doesn’t want anybody to think that these banks were taken over and handed over to special interests. It must be a very transparent process. AMCON must get the best returns on its investments. We are not a charity organization; we want the best returns on investment”.
It was further stated that the joint examiner from both the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance (NDIC) will this morning commence on examining the books of the banks to determine their level of liquidity and corporate governance, among others. 



Culled from BUSINESS DAY: Monday, May 7, 2012