By Olatunbosun Obafemi
The Federal Government has inaugurated a new Board of Directors for the Asset Management Corporation of Nigeria (AMCON), signaling a renewed push to recover distressed assets and strengthen the financial sector.
Chaired by Dr. Bala Bello, the board was unveiled by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, on Wednesday in Abuja. Edun said the move is critical to restoring investor confidence, unlocking value from non-performing assets, and aligning AMCON’s operations with global best practices.
“AMCON must evolve from a stabiliser of last resort into a disciplined, value-creating institution with a clear path to exit,” Edun said, stressing the need for accountability and efficiency amid fiscal constraints.
AMCON CEO, Gbenga Alade, echoed the sentiment, pledging the board’s commitment to a credible wind-down. “We are here to conclude, not to continue indefinitely,” he stated.
Other members of the board include Executive Directors Adeshola Lamidi, Lucky Adaghe, and Aminu Mukthar Dan’Amu, alongside regional Non-Executive Directors Yusuf Tegina, Adeyemo Adeoye, Charles Odion Iyiore, Yahaya Ibrahim, and Emily Chidinma Osuji.
The reconstitution of AMCON’s board is seen as a strategic step toward revitalizing bank balance sheets and supporting broader economic reforms.
