The Federal Government has inaugurated a new Board of Directors for the Asset Management Corporation of Nigeria (AMCON), signaling a decisive push to strengthen asset recovery, restore financial sector confidence, and chart a responsible path toward AMCON’s institutional exit.
The newly reconstituted Board is chaired by seasoned financial strategist Dr. Bala Bello, and comprises a diverse team of professionals drawn from across Nigeria’s geopolitical zones.
Director of Information and Public Relations, Mohammed Manga in a statement said together, they are mandated to reset AMCON’s trajectory from crisis resolution to value creation, transparency, and economic revitalization.
Speaking at the inauguration ceremony in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, described the moment as a turning point in the Federal Government’s financial reform agenda.
“AMCON must now transition from a stabiliser of last resort to a vehicle for unlocking trapped value, strengthening fiscal discipline, and preparing for an orderly and credible wind-down,” the Minister said.
“This new direction will help free up resources, restore investor confidence, and reinforce Nigeria’s reputation as a transparent, investment-ready economy.”
In a time of constrained public finances, Mr. Edun emphasised that recovering distressed assets and holding institutions accountable are no longer optional—they are critical for driving sustainable growth and attracting long-term capital.
Responding on behalf of the Board, AMCON Managing Director/CEO, Mr. Gbenga Alade, pledged a results-driven approach and affirmed that the Corporation’s role is transitional, not perpetual.
“We are here to conclude, not to continue indefinitely,” he said. “Our mandate is clear—to deliver a globally benchmarked exit strategy that serves Nigeria’s national interest while upholding the highest standards of corporate governance.”
The Board’s reconstitution is part of a broader strategic effort by the Federal Government to reset the nation’s financial ecosystem, remove legacy burdens from bank balance sheets, and accelerate private sector-led growth.
The newly inaugurated AMCON Board members included, 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) and Yahaya Ibrahim – Non-Executive Director (North West)
Other are, Emily Chidinma Osuji – Non-Executive Director (South East), Gbenga Alade – Managing Director/CEO, AMCON, Adeshola Lamidi – Executive Director, AMCON, Lucky Adaghe – Executive Director, AMCON and Aminu Mukthar Dan’Amu – Executive Director, AMCON
According to rhe Statement, this strategic step underscores the government’s commitment to fiscal integrity, institutional reform, and economic resilience.