Nigeria's Ministry of Finance and Coordinating Ministry of the Economy has inaugurated a new Board of Directors for the Asset Management Corporation of Nigeria (AMCON), resetting the Corporation’s governance with a mandate focused on improving asset recovery and preparing for an orderly institutional wind-down. Chaired by Dr. Bala Bello, the board has been charged with strengthening corporate governance, accelerating the recovery of distressed assets, and producing a credible exit strategy aligned with global best practices. Minister of Finance Wale Edun positioned the reconstituted board as a step toward restoring investor confidence, unlocking value from non-performing assets, and freeing up bank balance sheets to support financial sector reform and stronger private sector participation. AMCON Managing Director and CEO Gbenga Alade said the Corporation was not intended to be permanent and committed to benchmarking the wind-down plan against global models.
Ministry of Finance (Nigeria) 2025-05-21
Nigeria's Ministry of Finance inaugurates new AMCON board to accelerate distressed asset recovery and develop a time-bound wind-down plan
Nigeria's Ministry of Finance has inaugurated a new Board of Directors for the Asset Management Corporation of Nigeria (AMCON), chaired by Dr. Bala Bello, to enhance asset recovery and prepare for an orderly wind-down. The board aims to strengthen corporate governance, restore investor confidence, and align the exit strategy with global best practices. Minister Wale Edun emphasized unlocking value from non-performing assets to support financial sector reform.