The newly appointed Board, Chaired by Dr. Bala Bello, brings together seasoned professionals with a clear charge to improve corporate governance, accelerate the recovery of distressed assets, and design a credible, time-bound exit strategy in line with global best practices.
Inaugurating the Board on Wednesday in his office in Abuja, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, described AMCON’s new direction as critical to restoring investor confidence, unlocking value from non-performing assets, and supporting macroeconomic reforms that encourage private sector growth.
“AMCON must evolve from a stabiliser of last resort to a disciplined vehicle for value creation and responsible exit, the Minister stated. A credible wind-down will not only free up resources but reinforce our broader goal of a transparent, investment-friendly financial system,” the Minister noted. In his response, AMCON Managing Director/CEO, Gbenga Alade, pledged the Board’s full commitment to delivering results and reaffirmed that the Corporation was never intended to be permanent.
He said, “We are here to conclude, not to continue indefinitely, he said. 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 reform, and enabling stronger private sector participation in the economy.”