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Asset Management Corp. of Nigeria eyes 'quick' sale of Polaris Bank

The Asset Management Corp. of Nigeria is targeting a "quick" sale of Polaris Bank, AMCON CEO Ahmed Kuru told Bloomberg News.

Nigeria's central bank has asked AMCON, the country's so-called bad bank, to capitalize Polaris, which was established to assume the assets and liabilities of the now-defunct Skye Bank PLC.

Skye Bank's banking license was revoked by the central bank in September due to a shortfall in capital and liquidity.