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Ring-fencing Toxic Assets: Establishment of AMCON

In: Banking Reform in Nigeria

Author

Listed:
  • Yomi Makanjuola

    (Freelance Business Consultant)

Abstract

A common theme among policymakers, following the 2008–09 financial crisis, conceivably echoed the ‘never again’ pacifist mantra, uttered to repel the spectre of a global economic depression. It should be noted that not all countries were directly exposed to the toxic effect of the mortgage-backed securities liberally sold abroad by US investment firms, China being a prime example. However, the sudden economic contraction, huge job losses and credit crunch in the US had cross-border repercussions due to the interconnectedness of global financial markets. The crash of commodity prices, decline in stock markets and shrivelling trade flows meant that no nation was immune from the spreading panic.

Suggested Citation

  • Yomi Makanjuola, 2015. "Ring-fencing Toxic Assets: Establishment of AMCON," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Banking Reform in Nigeria, chapter 6, pages 87-110, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-49353-8_7
    DOI: 10.1007/978-1-137-49353-8_7
    as

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