The Federal Government of Nigeria has formally inaugurated the newly reconstituted Board of Directors of the Asset Management Corporation of Nigeria (AMCON), signaling a renewed commitment to stabilizing the financial sector, enhancing asset recovery, and implementing a time-bound exit strategy.
Chaired by Dr. Bala Bello, the new Board comprises experienced professionals tasked with strengthening corporate governance, fast-tracking the recovery of distressed assets, and steering AMCON toward a responsible wind-down aligned with international standards.
During the inauguration ceremony held at his Abuja office, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, underscored the importance of AMCON’s transformation in restoring investor confidence, unlocking value from non-performing assets, and supporting ongoing macroeconomic reforms that stimulate private sector-led growth.
He stressed that in a fiscally constrained environment, efficient asset recovery and institutional accountability are essential to maintaining Nigeria’s attractiveness to investors and entrepreneurs.
Responding on behalf of the Board, AMCON’s Managing Director/CEO, Mr. Gbenga Alade, reaffirmed the Corporation’s commitment to delivering tangible results, reiterating that AMCON was never intended to be a permanent institution.
“We are here to conclude, not to continue indefinitely,” Alade said.
“Our exit strategy will be benchmarked against global best practices and designed to serve Nigeria’s long-term interests.”
The government views this new phase of AMCON’s journey as a strategic move to unlock bank balance sheets, support financial sector reforms, and enhance private sector participation in the economy.
Members of the newly inaugurated AMCON Board are:Dr. Bala Bello – ChairmanYusuf Tegina – Non-Executive Director, North CentralAdeyemo Adeoye – Non-Executive Director, South WestCharles Odion Iyiore – Non-Executive Director, South SouthYahaya Ibrahim – Non-Executive Director, North WestEmily Chidinma Osuji – Non-Executive Director, South EastGbenga Alade – Managing Director/CEOAdeshola Lamidi – Executive DirectorLucky Adaghe – Executive DirectorAminu Mukthar Dan’Amu – Executive Director