FMBN, AMCON Partner to Tackle Challenges of Non-performing Loans

FMBN, AMCON Partner to Tackle Challenges of Non-performing Loans

Dele Ogbodo in Abuja

The Federal Mortgage Bank of Nigeria (FMBN) and Asset Management Corporation of Nigeria (AMCON), are partnering toward addressing the debt portfolio of the apex mortgage bank and the challenges of economic development posed by non-performing loans in the sector.

A statement made available to the media by the management of FMBN on Saturday in Abuja said there is need to safeguard national resources to meet the housing needs of Nigerians.

The disclosure was made during a courtesy call by the management of FMBN, led by its Acting Managing Director, Mr. Richard Esin, to its AMCON counterpart, Mr. Ahmed Kuru, in his office in Abuja.

The Acting MD solicited AMCON’s cooperation for FMBN’s mandate of providing liquidity for the country’s housing sector and delivering affordable housing in the country.

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