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Senate confirms AMCON, NDIC MDs, others

The Senate has confirmed Ahmed Kuru and Bello Hassan as the managing directors of the Asset Management Corporation of Nigeria (AMCON) and the Nigeria Deposit Insurance Corporation (NDIC).

Both nominees were confirmed on Wednesday during plenary after a thorough consideration of two separate reports of the Senate Committee on Banking, Insurance and Other Financial Institutions.

Ebelechukwu Uneze and Aminu Ismail, the Executive Directors of AMCON, and Mohammed Ibrahim, the Executive Director of the NDIC, were also confirmed on Wednesday.

The Chairman of the Committee on Banking, Insurance and Other Financial Institutions, Senator Uba Sani, said the reappointments of the AMCON nominees was in accordance with the provisions of Section 10(3) (a) and (b) of the AMCON; and their nomination for a second and final tenure of five as enshrined in the Asset Management Corporation of Nigeria (AMCON) Act, 2010 (as amended)

He said, “Strategically under his leadership, AMCON partnered investors and operators for value-enhanced exit of its portfolio companies, as well as the introduction and implementation of the Asset Management Partners scheme to assist with the resolution of small loans which in turn created over 3000 jobs both directly and indirectly.

“He also championed the creation of the Asset Tracing Unit which has led to more extensive discovery of assets and subsequent recovery of indebtedness while simultaneously having proactive negotiations with debt holders to achieve prompt and optimal settlements.”