President Muhammadu Buhari
has approved the dissolution of the executive management team of the Assets
Management Corporation of Nigeria (AMCON) and approved the appointment of Ahmed
Lawan Kuru as the new managing director of the corporation. Ahmed Kuru takes
over from Mr Chike Obi who has been the Managing Director since the
establishment of AMCON. Kola Ayeye, Eberechukwu Uneze and Aminu Ismail were
also named as executive directors.
AMCON was
established in 2010 to buy the non-performing loans of Nigerian banks with a
view to stabilising the banking system. The corporation was governed by Chike
Obi, and three Executive Directors – Mr Hewett Adegboyega Benson, Muhammed
Abbass Jega and Mofoluke Benedicta Dosunmu.
Ahmed
Lawan Kuru who was the former Managing Director of Enterprise Bank Plc
(acquired by Heritage Bank in 2014), was also a director in other financial
institutions like Keystone bank and Express Discount Limited.
No reasons
have been proffered for the dissolution of the executive management team of
AMCON. We are of the view that this may signal the possibility of more
dissolution of boards of critical parastatals in the financial sector.
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