The Finance Minister charges a new board of directors of Amcon on improved debt recoveries

The Minister of Finance and the coordinated minister of the economy, Olawale Edun, has accused the new board of directors of the Asset Management Corporation of Nigeria (Amcon) to accelerate debt recoveries.
Amcon
The minister gave the assignment on Wednesday in Abuja during the inauguration of the new Amscon Council. The new card is chaired by dr. Blahammed Belmmed 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 simply a procedural event; it is a decisive moment in the continuous effort of this administration to promote financial stability, improve the trust of investors and reposition the financial institutions of Nigeria for long -term growth and sustainability”.
He said that the Nigerians look at Amcon not only as a recovery agency, but as a vehicle for transparency, responsibility and 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 also the strategies that we adopt to strengthen financial institutions, improve the tax discipline and unlock the value from activities in difficulty. The role of Amcon is so critical today as it was at its initiative – if no longer.”

He underlined some of the key priority areas for the immediate attention of the new Board of Directors to include an improvement in the asset recovery: the current Amcon portfolio of incorrect debts remains a question of national concern. The Board of Directors must work assiduously to strengthen the recovery strategy of the company’s activities, also through the legal application, the renovation and the sale of activities.
Governance and responsibility: it is essential that this new advice supports the principles of good corporate government, transparency in operations and close adherence to the rule of law.
Collaboration with the interested parties: the Council must guarantee a strategic collaboration with the MDA relevant, the central bank of Nigeria (CBN), the judiciary and the national assembly. A unified approach is essential to ensure that the recovery mandate of Amcon is not threatened.
During the output strategy, Edun observed that “while Amcon was created as a temporary intervention, his detention must be faced with caution and strategy. The new Board of Directors will begin to articulate a credible and sustainable output framework, in line with the broader economic reform agenda of the government.”
He said that the administration reform agenda of President Bola Ahmed Tinubu is focused on economic stability, on the creation of jobs and on guided growth by the private sector. The effective performance of Amcon under your administration will contribute significantly to the achievement of these objectives.
In his observations, the CEO and CEO of Amcon, Gbenga Alade, thanked the honorable minister for supporting the company’s operations. Alade assured that, with the inauguration of the new card, the recovery process would have been improved.