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  • Wordchamp

    Disclosing the recipients will only threaten the trust which government is trying to restore to the system. Let’s trust AMCON to do the job well.

  • dam dam

    this is so wrong, cant believe madam ngozi/mustafa obi will have their status attached to this backward move. will theyget away with doing this in new york?

  • Egheomhanre Eyieyien

    I have been very critical of AMCON and written about the dangers ahead of it. One of my articles on the subject can be read with this link:

    I have also been critical of the bail-out of stock-boking firms when it was their greed, lack of professionalism and recklessness that led to the bubble in the capital market and the inevitable burst. However, there is nothing wrong or “non-transparent” in AMCON’s decision not to publish the names of the beneficiary firms.

    The Premium Times story even explained the reason:

    ” “The stock market has bounced back and is doing well. It is one of the top Exchanges in the world. There would be no need to publish this list or do anything that would have a negative effect on the market,” said Head, Corporate Communications, AMCON, Kayode Lambo.”We are liaising with the stockbrokers concerned with this. There were some conditions to be met. Some accepted and some did not.”
    Mr. Lambo said the money would not be given in cash to the stock brokers, but would be used to help them offset their debt to AMCON.”

    This is the same reason bank regulators/supervisors world-wide NEVER publish the names of distressed institutions until they fail or are rescued. If the list of stock-broking firms which AMCON bailed out were published, they would soon go into liquidation as they would lose clients speedily because of the stigma of being perceived as ailing institutions. It is the wounded animals that become isolated and get easily devoured in the jungle by lions and other predators!