The Asset Management Corporation of Nigeria (AMCON) recovered approximately ₦165 billion from delinquent debtors in the first half of 2026, marking a 64 percent increase over the ₦107 billion recovered during the same period in 2025.
Gbenga Alade, AMCON’s Managing Director and Chief Executive Officer, disclosed this during an interactive session with senior media executives in Lagos over the weekend. He said the Corporation also maintained a cost-to-recovery ratio of 2.3 percent, underscoring the efficiency of its debt recovery operations.
Beyond the improved recoveries, Alade announced that AMCON has commenced the process of divesting its controlling interest in telecommunications firm NTEL, a company it rescued in 2024 after years of financial distress.
According to Alade, the planned sale follows the successful disposal of the Ibadan Electricity Distribution Company (IBEDC) and aligns with AMCON’s strategy of unlocking value from distressed assets while attracting credible investors.
He revealed that NTEL has begun implementing a three-pronged transformation strategy designed to improve operational efficiency, strengthen competitiveness and position the company for long-term sustainability ahead of new investment.
“The repositioning effort is designed to maximise value, strengthen operational competitiveness and prepare the business for long-term sustainability under new investment,” Alade said.
He expressed confidence in the management of NTEL/NATCOM, describing the company’s restructuring as one of AMCON’s most promising asset recovery initiatives.
“We have full confidence in the Board and Management of NTEL/NATCOM as they continue to demonstrate experience, innovation, diligence and commitment towards positioning this Nigerian-owned company to compete favourably with its peers both locally and internationally,” he added.
Alade said AMCON would provide further updates as the divestment process reaches key milestones.
The AMCON chief also disclosed that the Corporation recently secured a landmark Supreme Court judgment that significantly strengthens its debt recovery mandate.
According to him, the apex court affirmed that the AMCON Act operates as a special legal framework created to resolve the banking sector crisis that followed the 2008 financial meltdown.
The ruling also confirmed that AMCON is exempt from paying stamp duties and has the statutory authority to dispose of collateral assets in recovering outstanding debts, irrespective of the size of an obligor’s indebtedness.
“While we celebrate this landmark judgment and several other legal successes, we are not resting on our oars. We remain mindful of the various tactics employed by recalcitrant obligors to frustrate the Corporation’s operations,” Alade said.
He dismissed calls for the dissolution of AMCON, alleging that many advocates of the Corporation’s closure are indebted individuals seeking to frustrate debt recovery efforts.
Alade maintained that any decision regarding AMCON’s eventual sunset rests with its Board and the Central Bank of Nigeria (CBN), stressing that the Corporation remains focused on recovering public funds.
He added that AMCON has strengthened collaboration with debt recovery agents, solicitors and receiver managers while reviewing commission structures to reflect prevailing economic realities.
