The Federal Government has inaugurated the new Board of Directors of the Asset Management Corporation of Nigeria (AMCON), marking a renewed phase in the Corporation\u2019s mandate to stabilise the financial sector, enhance asset recovery, and prepare for an orderly institutional wind-down.<\/p>\n
The newly appointed Board, Chaired by Dr. Bala Bello brings together seasoned professionals with a clear charge to improve corporate governance, accelerate the recovery of distressed assets, and design a credible, time-bound exit strategy in line with global best practices.<\/p>\n
Inaugurating the Board today in his office in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun described AMCON\u2019s new direction as critical to restoring investor confidence, unlocking value from non-performing assets, and supporting macroeconomic reforms that encourage private sector growth.<\/p>\n
AMCON must evolve from a stabiliser of last resort to a disciplined vehicle for value creation and responsible exit, the Minister stated. A credible wind-down will not only free up resources but reinforce our broader goal of a transparent, investment-friendly financial system.<\/p>\n
HM Edun emphasised that in a fiscally constrained environment, efficient asset recovery and institutional accountability are key levers for ensuring Nigeria remains a competitive destination for capital and enterprise.<\/p>\n
In his response, AMCON Managing Director\/CEO Mr. Gbenga Alade pledged the Board\u2019s full commitment to delivering results and reaffirmed that the Corporation was never intended to be permanent.<\/p>\n
We are here to conclude, not to continue indefinitely, he said. We will benchmark our exit plan against global models and deliver a process that serves the national interest.<\/p>\n
The Federal Government views the reconstitution of AMCON\u2019s Board as a strategic step toward unlocking balance sheet space for banks, supporting financial sector reform, and enabling stronger private sector participation in the economy.<\/p>\n
Members of the newly inaugurated AMCON Board include:<\/p>\n
Dr. Bala Bello \u2013 Chairman
\nYusuf Tegina \u2013 Non-Executive Director, North Central<\/p>\n
Adeyemo Adeoye \u2013 Non-Executive Director, South West<\/p>\n
Charles Odion Iyiore \u2013 Non-Executive Director, South South<\/p>\n
Yahaya Ibrahim \u2013 Non-Executive Director, North West<\/p>\n
Emily Chidinma Osuji \u2013 Non-Executive Director, South East<\/p>\n
Gbenga Alade \u2013 Managing Director\/CEO, AMCON<\/p>\n
Adeshola Lamidi \u2013 Executive Director, AMCON<\/p>\n
Lucky Adaghe \u2013 Executive Director, AMCON<\/p>\n
Aminu Mukthar Dan\u2019Amu \u2013 Executive Director, AMCON<\/p>\n
Signed
\nMohammed Manga FCAI
\nDirector, Information and Public Relations
\nMay\u00a021,\u00a02025<\/p>\n
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