Section 4: Objects of the Corporation.
The objects of the Corporation shall be to-
(a) assist eligible financial institutions to efficiently dispose of eligible bank assets in accordance with the provisions of this Act ;
(b) efficiently manage and dispose of eligible bank assets acquired by the Corporation in accordance with the provisions of this Act ; and
(c) obtain the best achievable financial returns on eligible bank assets or other assets acquired by it in pursuance of the provisions of this Act having regard to-
(i) the need to protect or otherwise enhance the long-term economic value of those assets.
(ii) the cost of acquiring and dealing with those assets,
(iii) the Corporation's cost of capital and other costs,
(iv) any guidelines or directions issued by the Central Bank of Nigeria in pursuance of the provisions of this Act ; and
(v) any other factor which the Corporation considers relevant to the achievement of its objects.
Cite this section
Section 4, ASSET MANAGEMENT CORPORATION ACT [AS AMENDED BY THE ASSET MANAGEMENT CORPORATION OF NIGERIA (AMENDMENT) ACT NO. 13, 2021] (2010).
https://repo.podus.ai/laws/asset-management-corporation-act-as-amended-by-the-asset-management-corporation-of-nigeria-amendment-act-no-13-2021/section/4/