The Chief Executive Officer, Mr. Mustafa Chike-Obi of Asset Management Corporation of Nigeria (AMCON) has confirmed that the corporation still has shares worth over N100bn in Deposit Money Banks and other companies.
It did not list the companies that it owned shares in but mentioned some of the banks as Access Bank Plc, Diamond Bank Plc, Sterling Bank Plc, Unity Bank Plc and Wema Bank Plc.
Why AMCON still owns shares in these banks
Chike-Obi told a Punch correspondent on Tuesday that AMCON would sell its shares in the banks “as soon as it is practicable.”
“We hold shares in banks as an intervention and we will get rid of them as soon as practicable,”
“There are things that have to be in place. You have to check the market; you have to check if the bank is in solid footing, you have to check many things to ensure they are in place before you start selling your shares,” he added.
Aside from these, Chike-Obi said the need to meet some mature obligations was another factor that might compel the agency to sell its shares in the banks and other companies.