Nigeria Strengthens Financial Sector with New AMCON Board, Targets Efficient Asset Recovery. By Raymond Enoch
In a strategic move to bolster Nigeria’s financial stability, the Federal Government has inaugurated a new Board of Directors for the Asset Management Corporation of Nigeria (AMCON). The appointment, led by Dr. Bala Bello as Chairman, aims to enhance corporate governance, expedite the recovery of distressed assets, and implement a structured exit strategy aligned with global best practices.
During the inauguration in Abuja, the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, emphasized that AMCON’s evolution is crucial for restoring investor confidence and unlocking value from non-performing assets. He stated, “AMCON must evolve from a stabilizer of last resort to a disciplined vehicle for value creation and responsible exit.”
The Minister highlighted that in a fiscally constrained environment, efficient asset recovery and institutional accountability are key to ensuring Nigeria remains a competitive destination for capital and enterprise.
AMCON’s Managing Director/CEO, Mr. Gbenga Alade, reaffirmed the Corporation’s commitment to delivering results, stating, “We are here to conclude, not to continue indefinitely.” He assured that the Board would benchmark its exit plan against global models to serve the national interest.
This development is part of the government’s broader efforts to stabilize the financial sector and implement macroeconomic reforms that encourage private sector growth.
