FUGAZ pay AMCON N210.5 billion banking resolution cost

Nigeria’s tier 1 banks, FBN Holdings, UBA, GTB, Access, and Zenith Bank, also known collectively as FUGAZ, incurred a total cost of N210.5 billion to the Asset Management Corporation of Nigeria (AMCON).

The fee is part of the banking resolution cost statutorily paid by banks to help the corporation support the takeover of failed or failing banks.

AMCON 2021 act mandates banks to…

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