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Asset Management Corporation Of Nigeria
Asset Management Corporation of Nigeria (AMCON) is a body established by the Act of the National Assembly of Nigeria in July 2010 with an intended 10 years lifespan. The concept is in consonance with the operation of the National Asset Management Agency of the Republic of Ireland and Malaysia Pengurusan Danaharta. The body acted as the buyer of banks for the Nigerian Government by acquiring the non-performing loans (NPL). The original book value of the acquired NPLs was ₦4.02trillion at a price of ₦1.76trillion with a commensurate issue of Zero Bond for the NPL acquired. Background As a result of global financial crisis and domestic events, the federal government of Nigeria through the operation of Central Bank of Nigeria conceptualized the idea for the establishment of a body that will prevent the looming financial crisis in the country. At the time of the establishment of this corporation, the body identified 10 banks with crisis in system asset and responded by the injecti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edward Lametek Adamu
Edward Lametek Adamu is a Nigerian quantity surveyor, business consultant and leadership strategist. He is the Deputy Governor of the Central Bank of Nigeria, the country's central bank. He was nominated to that position by president Muhammadu Buhari on 1 February 2018, to replace ''Suleiman Barau'', who retired in December 2017. He was unanimously confirmed by the Nigerian Senate on 22 March 2018. Immediately prior to his appointment to his current position, he served as the Director of Human Resources at the Central bank of Nigeria, since 2016. Adamu is also currently serving as the Chairman of Asset Management Company of Nigeria (AMCON). Background and education Edward Adamu was born on 22 June 1959 in Kaltungo, Gombe State, in the northeastern part of Nigeria. He studied at the Ahmadu Bello University, in Zaria, graduating with a Bachelor of Science in Quantity Surveying. He also holds postgraduate professional qualifications from other institutions of higher learning, inc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ahmed Lawan Kuru
Ahmad ( ar, أحمد, ʾAḥmad) is an Arabic male given name common in most parts of the Muslim world. Other spellings of the name include Ahmed and Ahmet. Etymology The word derives from the root (ḥ-m-d), from the Arabic (), from the verb (''ḥameda'', "to thank or to praise"), non-past participle (). Lexicology As an Arabic name, it has its origins in a Quranic prophecy attributed to Jesus in the Quran which most Islamic scholars concede is about Muhammad. It also shares the same roots as Mahmud, Muhammad and Hamed. In its transliteration, the name has one of the highest number of spelling variations in the world. Though Islamic scholars attribute the name Ahmed to Muhammed, the verse itself is about a Messenger named Ahmed, whilst Muhammed was a Messenger-Prophet. Some Islamic traditions view the name Ahmad as another given name of Muhammad at birth by his mother, considered by Muslims to be the more esoteric name of Muhammad and central to understanding his nat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Assembly Of Nigeria
National may refer to: Common uses * Nation or country ** Nationality – a ''national'' is a person who is subject to a nation, regardless of whether the person has full rights as a citizen Places in the United States * National, Maryland, census-designated place * National, Nevada, ghost town * National, Utah, ghost town * National, West Virginia, unincorporated community Commerce * National (brand), a brand name of electronic goods from Panasonic * National Benzole (or simply known as National), former petrol station chain in the UK, merged with BP * National Car Rental, an American rental car company * National Energy Systems, a former name of Eco Marine Power * National Entertainment Commission, a former name of the Media Rating Council * National Motor Vehicle Company, Indianapolis, Indiana, USA 1900-1924 * National Supermarkets, a defunct American grocery store chain * National String Instrument Corporation, a guitar company formed to manufacture the first resonator g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Asset Management Agency
The National Asset Management Agency (NAMA; ga, Gníomhaireacht Náisiúnta um Bhainistíocht Sócmhainní) is a body created by the government of Ireland in late 2009 in response to the Irish financial crisis and the deflation of the Irish property bubble. NAMA functions as a ''bad bank'', acquiring property development loans from Irish banks in return for government purple debts bonds, ostensibly with a view to improving the availability of credit in the Irish economy. The original book value of these loans was €77 billion (comprising €68bn for the original loans and €9bn rolled up interest), and the original asset values to which the loans related was €88bn, with there being an average Loan To Value of 77% and the current market value is estimated at €47 billion. NAMA is controversial, with politicians (who were in opposition at the time of its formation) and some economists criticising the approach, including Nobel Prize-winning economist Joseph Stiglitz who has ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Republic Of Ireland
Ireland ( ga, Éire ), also known as the Republic of Ireland (), is a country in north-western Europe consisting of 26 of the 32 counties of the island of Ireland. The capital and largest city is Dublin, on the eastern side of the island. Around 2.1 million of the country's population of 5.13 million people resides in the Greater Dublin Area. The sovereign state shares its only land border with Northern Ireland, which is part of the United Kingdom. It is otherwise surrounded by the Atlantic Ocean, with the Celtic Sea to the south, St George's Channel to the south-east, and the Irish Sea to the east. It is a unitary, parliamentary republic. The legislature, the , consists of a lower house, ; an upper house, ; and an elected President () who serves as the largely ceremonial head of state, but with some important powers and duties. The head of government is the (Prime Minister, literally 'Chief', a title not used in English), who is elected by the Dáil and appointed by ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Malaysia Pengurusan Danaharta
Malaysia ( ; ) is a country in Southeast Asia. The federal constitutional monarchy consists of thirteen states and three federal territories, separated by the South China Sea into two regions: Peninsular Malaysia and Borneo's East Malaysia. Peninsular Malaysia shares a land and maritime border with Thailand and maritime borders with Singapore, Vietnam, and Indonesia. East Malaysia shares land and maritime borders with Brunei and Indonesia, and a maritime border with the Philippines and Vietnam. Kuala Lumpur is the national capital, the country's largest city, and the seat of the legislative branch of the federal government. The nearby planned capital of Putrajaya is the administrative capital, which represents the seat of both the executive branch (the Cabinet, federal ministries, and agencies) and the judicial branch of the federal government. With a population of over 32 million, Malaysia is the world's 45th-most populous country. The southernmost point of continent ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Book Value
In accounting, book value is the value of an asset according to its balance sheet account balance. For assets, the value is based on the original cost of the asset less any depreciation, amortization or impairment costs made against the asset. Traditionally, a company's book value is its minus intangible assets and liabilities. However, in practice, depending on the source of the calculation, book value may variably include goodwill, intangible assets, or both.Graham and Dodd's ''Security Analysis'', Fifth Edition, pp 318 – 319 The value inherent in its workforce, part of the intellectual capital of a company, is always ignored. When intangible assets and goodwill are explicitly excluded, the metric is often specified to be ''tangible book value''. In the United Kingdom, the term net asset value may refer to the book value of a company. Asset book value An asset's initial book value is its actual cash value or its acquisition cost. Cash assets are recorded or "booked" at actu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zero Bond
Scott Sartiano (born October 31, 1974) is an American restaurateur known for co-founding the nightclubs 1Oak, Up & Down, and restaurants Butter and The Darby. In 2020, he opened the private social club Zero Bond, which has been frequented by celebrities including Kim Kardashian, Tom Brady and New York City mayor Eric Adams. Early life and education He was born in Pittsburgh, Pennsylvania to Italian-American and Irish/Polish-American parents. He was raised in Columbia, South Carolina, later moving to New York City to pursue his undergraduate degree at Columbia University, where he played tennis at the collegiate level. He graduated from Columbia University, Columbia in 1997. Career After an injury to his wrist ended his tennis career, Sartiano changed his focus to the hospitality industry. He partnered with Richie Akiva and to open Butter Restaurant in New York City in 2002 and 1Oak lounge in 2007. 1Oak has since expanded to other cities, including Dubai, Las Vegas, and elsewhe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Muhammadu Buhari
Muhammadu Buhari (born 17 December 1942) is a Nigerian politician and current president of Nigeria since 2015. Buhari is a retired Nigerian Army major general who served as the country's military head of state from 31 December 1983 to 27 August 1985, after taking power in a military coup d'état. The term Buharism is ascribed to the authoritarian policies of his military regime. Buhari ran for president of Nigeria in 2003, 2007, and 2011. In December 2014, he emerged as the presidential candidate of the All Progressives Congress party for the 2015 general election. Buhari won the election, defeating incumbent President Goodluck Ebele Jonathan. This was the first time in the history of Nigeria that an incumbent president lost a general election. He was sworn in on 29 May 2015. In February 2019, Buhari was re-elected, defeating his closest rival, former Vice President Atiku Abubakar, by over 3 million votes. Early life Buhari was born to a Fulani family on 17 December ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Central Bank Of Nigeria
The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country, promote monetary stability and a sound financial environment, and act as a banker of last resort and financial adviser to the federal government. The central bank's role as lender of last resort and adviser to the federal government has sometimes pushed it into murky regulatory waters. After the end of imperial rule the desire of the government to become pro-active in the development of the economy became visible especially after the end of the Nigerian civil war, the bank followed the government's desire and took a determined effort to supplement any show shortfalls, credit allocations to the real sector. The bank became involved in lending directly to consumers, contravening its original ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
House Of Representatives Of Nigeria
The House of Representatives is the lower chamber of Nigeria's bicameral National Assembly. The Senate is the upper chamber. The House of Representatives has 360 members who are elected in single-member constituencies using the plurality (or first-past-the-post) system. Members serve four-year terms. The Speaker of the Nigerian House of Representatives is the presiding officer of the house. Nigerian state delegations The Constitution of the Federal Republic of Nigeria, assumes a National Assembly for the federation which consist of a senate and a House of Representatives. The senate consist of three senate members from each Nigerian state and one senate member from the Federal Capital Territory, Abuja. There must be three hundred and sixty members in total, representing constituencies for the Federal House of Representatives. Members (since 1979) *Members ** List of members of the House of Representatives of Nigeria, 1979–1992 ** List of members of the House of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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