Assessment of Amcon’s Role in Resuscitating the Banking Sector.pdfVIP

IOSR Journal of Economics and Finance (IOSR-JEF) e-ISSN: 2321-5933, p-ISSN: 2321-5925.Volume 6, Issue 1. Ver. I (Jan.-Feb. 2015), PP 54-60 Assessment of Amcon’s Role in Resuscitating the Banking Sector during the Global Financial Crisis Sanni Yusuf Olatunji (ACA ,MSc (Accounting Finance)Sokoto State, Nigeria. Abstract: The Strengthening Of The Banking Sector Of The Nigerian Economy Has Always Been The Epicenter Of Every Macro-Economic Policy In Nigeria. Establishing The Asset Management Corporation Of Nigeria (Amcon) In Reviving This Sector During The Global Financial Crisis Is An Indication That The Country Is Unwavering In Its Pursuit Of Becoming The Continent’s Financial Power House Come 2020. This Study Examined The Role Played By Amcon During This Period. Empirically, Will There Have Been Distress In The Industry As The Crisis Unfolded? It Is In View Of This That Desk Information Were Collected And Analyzed Using Content Analysis By Comparing Various Financial Variables - Capital Adequacy Ratio (Car), Non- Performing Loans (Npls),Eligible Bank Assets (Ebas) And Non Financial Variables- Determinants Of Survival Of A Firm. The Results Revealed That The Banking Sector Would Have Distressed Had Amcon Not Intervened And That Its Intervention Was A Lifeline. Keywords: Amcon, Npls, Ebas, Car, Ndic I. Introduction The core interior motive of any firm besides profit making is to see it exist in perpetuity, hence, the accounting concept, going concern. In many cases in the past, profit making, income maximization are the chief objectives of organizations but many of themnever foresaw extinction so fizzled out obliviously. Many businesses had to w