The Federal Government has inaugurated a new Board of Directors for the Asset Management Corporation of Nigeria (AMCON), signalling a fresh phase in efforts to stabilise the financial sector. The newly constituted board is chaired by Dr Bala Bello and comprises seasoned professionals tasked with enhancing corporate governance and recovering distressed assets.
Inaugurating the board in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said AMCON must evolve from a last-resort stabiliser to a disciplined vehicle for value creation and a credible, time-bound exit.
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Mr Edun stated that in a fiscally constrained environment, efficient asset recovery and institutional accountability are essential to attracting private investment and reinforcing financial transparency.
Managing Director of AMCON, Gbenga Alade, pledged full commitment to the Corporation’s transition, stressing that AMCON was never intended to be permanent. He assured that the board would benchmark its wind-down strategy against global standards.
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