FG inaugurates new AMCON board
Abdullateef Fowewe
The Federal Government has inaugurated a new Board of Directors for the Asset Management Corporation of Nigeria (AMCON), signaling a renewed commitment to stabilizing the financial sector, enhancing asset recovery, and preparing for an orderly institutional wind-down.
The Board, chaired by Dr Bala Bello, comprises seasoned professionals tasked with improving corporate governance, accelerating the recovery of distressed assets, and designing a credible, time-bound exit strategy aligned with global best practices.
This was obtained in a statement by the Director, Information and Public Relations, Mohammed Manga.
At the inauguration in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, emphasised the strategic importance of the new Board.
He stated, “AMCON must evolve from a stabiliser of last resort to a disciplined vehicle for value creation and responsible exit. A credible wind-down will not only free up resources but reinforce our broader goal of a transparent, investment-friendly financial system.”
Edun highlighted that efficient asset recovery and institutional accountability are crucial in maintaining Nigeria’s competitiveness as an investment destination amid fiscal constraints.
AMCON’s Managing Director and CEO, Gbenga Alade, reaffirmed the Corporation’s temporary mandate, pledging the Board’s commitment to delivering measurable outcomes.
He remarked, “We are here to conclude, not to continue indefinitely. We will benchmark our exit plan against global models and deliver a process that serves the national interest.”
The Federal Government views the reconstitution of AMCON’s Board as a strategic step toward unlocking balance sheet space for banks, supporting financial sector reforms, and enabling stronger private sector participation in the economy.
The new Board members include:
• Dr. Bala Bello – Chairman
• Yusuf Tegina – Non-Executive Director, North Central
• Adeyemo Adeoye – Non-Executive Director, South West
• Charles Odion Iyiore – Non-Executive Director, South South
• Yahaya Ibrahim – Non-Executive Director, North West
• Emily Chidinma Osuji – Non-Executive Director, South East
• Gbenga Alade – Managing Director/CEO
• Adeshola Lamidi – Executive Director
• Lucky Adaghe – Executive Director
• Aminu Mukthar Dan’Amu – Executive Director
