Abuja, Nigeria – Federal Government don inaugurate new Board of Directors wey go lead the Asset Management Corporation of Nigeria (AMCON), as dem dey plan to tighten asset recovery and begin a valid, time-bound wind-down of di Corporation. Dis announcement come from Mr. Mohammed Manga, di Director of Information and Public Relations at di Federal Ministry of Finance, on Thursday.
Di inauguration happen on Tuesday for Abuja, as di Minister of Finance and Coordinating Minister of di Economy, Mr. Wale Edun, oversee di ceremony. E tell di new AMCON leadership say dem need to reposition di agency to fit global best practices while supporting ongoing macroeconomic reforms.
“AMCON must evolve from a stabiliser of last resort to a disciplined vehicle for value creation and responsible exit,” di minister talk. “A credible wind-down go free up resources and reinforce our broader goal of a transparent, investment-friendly financial system.”
Edun also emphasize say effective asset recovery and accountability dey important in dis period wey government dey face financial challenges. E talk say dem fit help Nigeria maintain its position as competitive destination for investment.
Di new board get Dr. Bala Bello as di chairman, while Mr. Gbenga Alade serve as di Managing Director/Chief Executive Officer. Di executive directors include: Mr. Adeshola Lamidi, Mr. Lucky Adaghe, and Mr. Aminu Mukthar Dan’Amu. Non-Executive Directors comprise Mr. Yusuf Tegina (North Central), Mr. Adeyemo Adeoye (South-West), Mr. Charles Odion Iyiore (South-South), Mr. Yahaya Ibrahim (North-West), and Ms. Emily Chidinma Osuji (South-East).
Mr. Gbenga Alade, di AMCON Managing Director, assure di government say di board go fully commit to di Corporation’s mandate. “We dey here to conclude, not to continue indefinitely,” Alade talk. “We go benchmark our exit plan against global models and deliver process wey go serve di national interest.”
Di Federal Government don describe di reconstitution of AMCON board as strategic move wey go help unlock balance sheet space for banks and strengthen private sector participation in di economy. AMCON wey start for 2010, na response to di banking crisis wey burst after di global financial meltdown for 2008. Di agency was set up to buy bad loans from troubled banks and stabilize di financial system.
But dem don dey criticize AMCON for transparency issues and lack of a clear plan for wind-down among oda challenges. Dis new leadership dey meant to address those problems and bring a better direction for AMCON and Nigeria’s financial future.
