The Nigerian Government has inaugurated the new Board of Directors of the Asset Management Corporation of Nigeria (AMCON), ushering in a renewed phase in the Corporation’s mandate to stabilise the financial sector, enhance asset recovery, and prepare for an orderly institutional wind down.
The newly appointed Board, chaired by Dr Bala Bello, comprises experienced professionals tasked with improving corporate governance, accelerating the recovery of non-performing assets, and developing a credible, time-bound exit strategy aligned with global best practices.
FEDERAL MINISTRY OF FINANCE ABUJA
PRESS RELEASE
FG INAUGURATES AMCON BOARD TO STRENGTHEN ASSET RECOVERY, ECONOMIC STABILITY
The Federal Government has inaugurated the new Board of Directors of the Asset Management Corporation of Nigeria (AMCON), marking a renewed phase in the… pic.twitter.com/oqZ5eBVmXH
— Federal Ministry of Finance (@FinMinNigeria) May 22, 2025
Inaugurating the Board at his office in Abuja, the Finance Minister and Coordinating Minister of the Economy, Mr Wale Edun, described AMCON’s new direction as essential to restoring investor confidence, unlocking value from distressed assets, and supporting macroeconomic reforms that promote private sector growth.
“AMCON must evolve from being a stabiliser of last resort to a disciplined vehicle for value creation and responsible exit. A credible wind-down will not only release resources but also strengthen our wider objective of a transparent, investment-friendly financial system,” the Minister stated.
Minister Edun emphasised that in a fiscally constrained environment, efficient asset recovery and institutional accountability are vital to ensuring Nigeria remains an attractive destination for capital and enterprise.
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In his response, AMCON Managing Director/CEO, Mr Gbenga Alade, pledged the Board’s full commitment to delivering results and reaffirmed that the Corporation was never intended to be permanent.
“We are here to conclude, not to continue indefinitely,” he said. “We will benchmark our exit plan against international models and deliver a process that serves the national interest.”
The Nigerian Government regards the reconstitution of AMCON’s Board as a strategic move towards freeing up balance sheet space for banks, supporting financial sector reform, and fostering stronger private sector participation in the economy.
The newly inaugurated AMCON Board members are:
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Dr Bala Bello – Chairman
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Yusuf Tegina – Non-Executive Director, North Central
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Adeyemo Adeoye – Non-Executive Director, South West
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Charles Odion Iyiore – Non-Executive Director, South South
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Yahaya Ibrahim – Non-Executive Director, North West
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Emily Chidinma Osuji – Non-Executive Director, South East
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Gbenga Alade – Managing Director/CEO, AMCON
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Adeshola Lamidi – Executive Director, AMCON
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Lucky Adaghe – Executive Director, AMCON
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Aminu Mukthar Dan’Amu – Executive Director, AMCON
