Has anybody else bothered to examine the Audited Financial Statements of the Asset Management Corporation of Nigeria (AMCON) for the year ended 31st December, 2011? It's available with this link: http://amcon.com.ng/documents/AMCON_Consolidated_Financial_Full.aspx
AMCON is gravely distressed! With Total Liabilities of N5.69Trillion (Bonds Issued is N4.18Trillion), a Paid-up Share Capital of N10Billion and an Operating Loss of N2.44Trillion, this is an adventure into an abyss! Yet it made out donations totalling N3.8million of which N2.5million went to a high-brow private primary school, Lagos Preparatory School in Ikoyi, Lagos!
What is really the end-game for this Alternative Government of Nigeria whose expenditure rivals the Annual Budget of the Federal Republic of Nigeria?
AMCON is gravely distressed! With Total Liabilities of N5.69Trillion (Bonds Issued is N4.18Trillion), a Paid-up Share Capital of N10Billion and an Operating Loss of N2.44Trillion, this is an adventure into an abyss! Yet it made out donations totalling N3.8million of which N2.5million went to a high-brow private primary school, Lagos Preparatory School in Ikoyi, Lagos!
What is really the end-game for this Alternative Government of Nigeria whose expenditure rivals the Annual Budget of the Federal Republic of Nigeria?
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