The Asset Management Corporation of Nigeria (AMCON) is seeking new investors to take over nationalised lender, Polaris Bank after elections next month. It is also taking stock of the bank’s assets ahead of the sale, its spokesman, Jude Nwauzor, said yesterday.
“The election season has slowed down things,” Nwauzor, said.
Nigerians will vote on February 16 in a presidential election where incumbent Muhammadu Buhari is seeking a second term.
“We would advertise for Expressions of Interest from investors after elections and commence the sale process,” Nwauzor said.
Some of Nigeria’s banks have faced tough times since low oil prices put pressure on their business of lending to the oil and gas industry. The country emerged from a recession in 2017 but economic growth remains sluggish and this has weighed on credit growth.
Polaris Bank was set up last year to take over the assets of Skye Bank which collapsed and had its operating licence revoked by Nigeria’s central bank.
Polaris was then transferred to the state-owned bad bank for sale to investors. AMCON has previously sold three other nationalised banks.
The AMCON spokesman said the bad bank was seeking to recover debts owed to Polaris that were non-performing and had asked for proposals on repayment.
AMCON was set up in 2010 to take on non-performing loans from banks as part of the country’s efforts to resolve a financial crisis at that time.
Two Suspects in Police Net for Allegedly Kidnapping, Killing Girl in Kano.
Adamu Aminu, Kano.
The Police in Kano State says it has nabbed two suspects in connection with kidnapping and hacking an eight- year old girl, Aisha Umar.
The Police Public Relation Officer, DSP Abdullahi Haruna made it known in a statement issued on Tuesday in Kano.
He said that the command’s Anti-Kidnapping Squad of “Operation Puff Adder” arrested the suspected culprits after receiving a report of the lifeless body of uncovered in a Well at Gandun Albasa neighbourhood in Kano.
He said that the corpse was evacuated and taken to Murtala Muhammad Specialist Hospital Kano.
The PPRO said the body was later identified to be that of the eight-year-old girl who was earlier kidnapped at Tudun Wada, Nassarawa Local Government Area of the state.
Haruna called on the public to always report any incident, suspicious persons or movement promptly to the nearest police station.
He said that the state’s Commissioner of Police, Mr. Ahmed Iliyasu, had directed that the remaining suspects at large be tracked and arrested, adding that the arrested ones would be charged to court after investigations.
FG may redesign 2nd Niger Bridge to prevent suicide
There are indications that the Federal government may re-design the second Niger Bridge so as to forestall anyone from committing suicide via the bridge.
The Federal Controller of works in Anambra, Adeyemo Ajani, gave the hint when he took members of the Abuja branch of the Nigeria Society of Engineers (NSE) on an inspection at the Ogbaru site of the 2nd Niger Bridge project in Onitsha on Saturday July 13th.
“What we have on the walk lane is our standard design but what the engineers are talking about is a kind of review. If we have to do abnormal design to take care of suicidal situations, it will require another design.
“There has been rapid progress on the project. The last time the minister and the vice-president came, it was 15 per cent level completion but today it is above 21per cent. When you look at it from the time the project started, we are now at 24 per cent completion.
“The main bridge has begun; we have done all the piling and the structures above water level have been done considerably. At the Asaba end, we have raised the structure to the deck up to 80 per cent.” Ajani said
Renowned Congolese Pastor Paul Mukendi found guilty of sexual assaults in Canada
Paul Mukendi, the renowned Congolese Pastor of Parole de Vie evangelical church in Quebec, Canada, has been found guilty of a 9-count charge of sexual assaults.
His victim, a 31-year-old woman who came into his care after her mother “gave her as an offering” to him when she was still an under-aged teenager, had accused him of sexually assaulting her for 14 years (2002 to 2016).
While Pastor Paul Mukendi claimed that the victim is “motivated by financial gain” and fabricated the entire story, she stood her ground as the trial began on June 4.
The Congolese Pastor was found guilty by the Jury, as other women came forward with their own claims about being sexually abused. Judge Jean-François Émond who denied his lawyer’s request for him to be released pending his sentencing in September, opted for an immediate detention.
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