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AMCON's profit hit N108bn in 2023 — up from N34bn in 2022

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The Asset Management Corporation of Nigeria (AMCON) says it raked in a triple-digit profit of N108.43 billion in 2023.

The Asset Management Corporation of Nigeria says it raked in a triple-digit profit of N108.43 billion in 2023.

The agency said the growth is occurring despite challenging macroeconomic conditions and economic headwinds. “Equity portfolio recorded 82% growth in 2023 amounting to N43 billion as compared with N7.9 billion in 2022. The significant trading gains is as result of an improved performance in the stock market,” he said.

A breakdown of the recovery showed that AMCON collected N81.65 billion from various obligors, N17.8 billion from share sales, N15.5 billion from reinvestment income, and N6 billion as proceeds from the sale of properties.

 

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