Nigeria takes action to absorb bad loans

摘要

Nigeria's 'bad bank' aims to issue bonds to the value to N2200bn ($15bn) as the country's central bank tries to recapitalise rescued banks and restore lending. The recently formed state asset management company, AMCON, plans to issue zero-coupon bonds in five tranches through Nigeria's debt management office, to absorb bad loans from the $4bn bailout of nine domestic banks last year.