BusinessMoneyNewsNigeriaTop News

Buhari moves again, dissolves AMCON board



The ongoing change of personnel at the federal level claimed another set of victims, Tuesday as President Muhammadu Buhari approved the dissolution of the Executive Management Team of the Assets Management Corporation of Nigeria (AMCON), sacking its pioneer managing director, Mustafa Chike-Obi in the process

President Buhari has also approved the reconstitution of the management team of the corporation with Ahmed Lawan Kuru as Managing Director.

Buhari also appointed three executive directors. They are Kola Ayeye, Eberechukwu Uneze and Aminu Ismail.

Paradoxically, until his appointment as Managing Director of AMCON, Mr. Ahmed Kuru was the Group Managing Director of Enterprise Bank Limited, one of the financial institutions that had been rescued by AMCON and which had been bought by Heritage Bank.

The new helmsman of the financial system stabilization corporation had started his banking career with the old Habib Bank in 1985 and rose through the ranks to become an Executive Director of Bank PHB (now Keystone Bank) in 2005.

Asset Management Corporation of Nigeria (AMCON) was established on the 19th July 2010, when former President Goodluck Jonathan signed the AMCON Act into Law.

On its website, AMCON says it was created to be a key stabilizing and re-vitalizing tool established to revive the financial system by efficiently resolving the non-performing loan assets of the banks in the Nigerian economy.

The Chike-Obi led board was approved by the Senate in November 2010. The other members swept out today included are Mofoluke Benedicta Dosumu, Abbas Mohammed Jega and Mr. Hewett Adegboyega Benson.

Konga to host SMEs forum in September

Previous article

Defeat looms for Ghana ruling party in elections – Investigation

Next article

You may also like


Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More in Business