SIGN IN YOUR ACCOUNT TO HAVE ACCESS TO DIFFERENT FEATURES

CREATE AN ACCOUNT FORGOT YOUR PASSWORD?

FORGOT YOUR DETAILS?

AAH, WAIT, I REMEMBER NOW!

CREATE ACCOUNT

ALREADY HAVE AN ACCOUNT?

Magnartis Finance & Investment Limited

  • LOGIN
  • Home
  • About
    • About Us
    • Management Team
    • Directors
  • Services
    • Stockbroking
    • Portfolio Management
    • Corporate Finance
    • Advisory Services
  • Projects
  • Download
  • Contact
  • Open an account
  • Home
  • Banks’ Shareholders Express Concerns Over N56.42bn Levies To AMCON
  • Capital Market News
  • Banks’ Shareholders Express Concerns Over N56.42bn Levies To AMCON
 

Banks’ Shareholders Express Concerns Over N56.42bn Levies To AMCON

Banks’ Shareholders Express Concerns Over N56.42bn Levies To AMCON

by magna / Friday, 12 June 2015 / Published in Capital Market News
AMCON

Some shareholders have said that the huge levies paid by commercial banks to the Asset Management Corporation of Nigeria (AMCON) had stifled banks’ ability to lend .

They said that the shareholders’ funds were being eroded annually by the sustained operation of the Banking Sector Resolution Cost Fund as observed in the 2014 financial year.

The News Agency of Nigeria (NAN) reports that the Banking Sector Resolution Cost is a funding-pool agreed upon by commercial banks to mitigate the challenges that the nation’s banking sector may face as occasioned by the 2008/2009 global economic recession.

Investigations by the NAN showed that seven commercial banks contributed N56.42 billion to the AMCON in 2014. Some of the shareholders told the NAN in separate interviews in Lagos that banks’ contributions to the AMCON were making their stocks unattractive to investors due to dwindling and unimpressive dividends.

Source : Leadership

About magna

What you can read next

FG, States, LGs Expenditure On GDP Grew By 42.81% In 2015 – NBS
Havelange, former FIFA president, dies at 100
Savannah Bank customers petition Jonathan over trapped deposits

Market Capitalization

[visualizer id="161"]

Newsletter Subscription


 

About Us

Magnartis Finance & Investment Ltd (“Magnartis”) is a Dealing Member of The Nigerian Stock Exchange with expertise in Stockbroking and Trade Execution Services.

Download

  • FGN Savings Bond Subscription Form
  • Mandate For Ebonus
  • Cscs Clients Authorization Form For Change Of Bank
  • Cscs Client Bank Update Form
  • Account Opening Form KYC

Research

  • Daily Price List
  • Daily Market Summary
  • Weekly Market Summary
  • Special Reports

Contact Info

16, Boyle Street, Onikan, Lagos, Nigeria

Office Number:
01-4538066

E-mail:
info@magnartis.com

  • GET SOCIAL

© 2014 Magnartis Finance & Investment Limited. All Right Reserved

TOP