The Federal Government has inaugurated a new Board of Directors for the Asset Management Corporation of Nigeria (AMCON), aiming to strengthen the corporation’s role in stabilizing the financial sector, enhancing asset recovery, and preparing for an orderly institutional wind-down.
The board, chaired by Dr. Bala Bello, comprises experienced professionals tasked with improving corporate governance, accelerating the recovery of distressed assets, and designing a credible exit strategy aligned with global best practices.
During the inauguration ceremony held in Abuja, Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun emphasized AMCON’s role in restoring investor confidence and supporting macroeconomic reforms that encourage private sector growth. “AMCON must evolve from a stabiliser of last resort to a disciplined vehicle for value creation and responsible exit,” he stated.
Minister Edun highlighted that efficient asset recovery and institutional accountability are essential for ensuring Nigeria remains competitive in attracting capital and enterprise.
AMCON Managing Director/CEO Mr. Gbenga Alade expressed commitment to delivering results and noted that the corporation was never intended to be permanent. “We are here to conclude, not to continue indefinitely,” he said.
The reconstitution of AMCON’s Board is seen as a strategic move towards unlocking balance sheet space for banks and enabling stronger private sector participation in the economy.
The members of the newly inaugurated AMCON Board include:
– Dr. Bala Bello – Chairman
– Yusuf Tegina – Non-Executive Director, North Central
– Adeyemo Adeoye – Non-Executive Director, South West
– Charles Odion Iyiore – Non-Executive Director, South South
– Yahaya Ibrahim – Non-Executive Director, North West
– Emily Chidinma Osuji – Non-Executive Director, South East
– Gbenga Alade – Managing Director/CEO, AMCON
– Adeshola Lamidi – Executive Director, AMCON
– Lucky Adaghe – Executive Director, AMCON
– Aminu Mukthar Dan’Amu – Executive Director, AMCON