FINANCE Minister and coordinating Minister of the Economy, Olawale Edun, has charged the new board of directors of the Asset Management Corporation of Nigeria (AMCON) to speed up debt recoveries.
The minister gave the charge on Wednesday in Abuja during the Inauguration of the New Board of AMCON. The new board is chaired by Dr Bala Mohammed Bello. The Non-Executive Directors are Yusuf Tegina, Adeyemo Adeoye, Charles Odion Iyiore, Yahaya Ibrahim, and Emily Chidinma Osuji.
According to him, “This ceremony is not merely a procedural event; it is a defining moment in the continued effort of this administration to promote financial stability, enhance investor confidence, and reposition Nigeria’s financial institutions for long-term growth and sustainability.”
He said Nigerians look to AMCON not just as a recovery agency, but as a vehicle for transparency, accountability, and the efficient resolution of non-performing loans that continue to weigh down our banking system and public finances.
“However, as we all know, the task of economic transformation is an ongoing journey. As our macroeconomic realities evolve, so too must the strategies we adopt to strengthen financial institutions, improve fiscal discipline, and unlock value from distressed assets. The role of AMCON is as critical today as it was at its inception—if not more so.”
He emphasized some of the key priority areas for the immediate attention of the new board to include enhanced Asset Recovery: AMCON’s current portfolio of unrecovered debts remains a matter of national concern. The Board must work assiduously to strengthen the Corporation’s asset recovery strategy, including through legal enforcement, restructuring, and the sale of assets.
