By Jemimah Wellington, JKNewsMedia Reporter
NIGERIA’s FEDERAL authorities have formally reconstituted the board of the Asset Management Corporation of Nigeria (AMCON), tasking the new leadership with accelerating asset recovery, restoring investor trust, and supporting key economic reforms.
The newly inaugurated board, chaired by Bala Bello, comprises six non-executive and four executive directors, including Gbenga Alade, the managing director and chief executive officer.
Others appointed to the board include Yusuf Tegina (north central), Adeyemo Adeoye (south-west), Charles Iyiore (South-South), Yahaya Ibrahim (North-West), and Emily Osuji (South-East) as non-executive directors.
The executive directors are Adeshola Lamidi, Lucky Adaghe, and Aminu Dan’Amu.
Wale Edun, minister of finance and coordinating minister of the economy, stated at the inauguration that AMCON must transition from a stabilising entity into a disciplined, value-driven institution capable of winding down responsibly.
He underscored that restoring transparency and boosting private sector-led growth remain core government priorities.
“A credible wind-down will not only free up resources but reinforce our broader goal of a transparent, investment-friendly financial system,” Edun said.
He highlighted that institutional accountability and aggressive recovery of non-performing assets were central to Nigeria’s investment competitiveness.
Alade, in his remarks, affirmed the board’s mandate to deliver measurable results within a defined timeline. “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.”
The federal government, through the Ministry of Finance, emphasised that the new board must uphold sound governance practices and align AMCON’s operational wind-down with international standards.
President Bola Tinubu submitted the nominations to the senate on March 20. Six days later, the upper chamber confirmed Bala Bello as chairman and approved the nominations of the five non-executive directors.
