In 2010, the Asset Management Corporation of Nigeria (AMCON) was established following the promulgation of its enabling Act by the National Assembly. It is a special purpose vehicle aimed at addressing the problem of non-performing loans in the Nigerian banking industry, among others.
In line with its mandate, AMCON recently acquired the non-performing risk assets of some banks worth over N1.7 trillion, which is expected to boost their  BIS central bankers’ speeches  3  liquidity as well as enhance their safety and soundness.