Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has officially inaugurated the new Board of Directors of the Asset Management Corporation of Nigeria (AMCON), signaling a renewed phase in the Corporation’s mission to stabilize the financial sector, enhance asset recovery, and facilitate an orderly institutional wind-down.
The newly appointed board, chaired by Dr. Bala Bello, consists of seasoned professionals tasked with improving corporate governance, accelerating the recovery of distressed assets, and designing a clear, time-bound exit strategy that aligns with global best practices.
In a statement issued by the Ministry’s Director of Information and Public Relations, Mohammed Manga, on Thursday, the restructuring is aimed at reinforcing investor confidence, unlocking value from non-performing assets, and supporting macroeconomic reforms that stimulate private sector growth.
During the inauguration ceremony in Abuja, Edun emphasized that AMCON must transition from a stabilizer of last resort to a disciplined vehicle for value creation and responsible exit.