LAGOS Dec 14 Nigeria's state-backed "bad bank"
AMCON reported a 2.37 trillion naira ($15 billion) loss after
tax on Friday, three years after it was set up to absorb the bad
debts of banks in the aftermath of a financial crisis.
The Asset Management Corporation of Nigeria (AMCON) also
said it expects to conclude the privatisation of three banks in
nationalised after the crisis, by mid-2014.
It added that Nigerian banks had agreed to increase their
collective contributions to a post-crisis "sinking fund" used to
refinance the bank's bad debts to 100 billion naira, up from the
60 billion naira they had already put in.
($1 = 157.7500 naira)
(Reporting by Chijioke Ohuocha; Writing by Tim Cocks)