President Buhari Reappoints Ahmed Kuru As AMCON MD/CEO

President Muhammadu Buhari (left) and Ahmed Kuru, whose appointment he renewed at AMCON

  • Eberechukwu Uneze and Aminu Ismail also returned as Executive Directors
  • New appointments in NDIC too
  • Both AMCON and NDIC await Senate approval of Mr Presidents appointments

The President of the Federal Republic of Nigeria, Muhammadu Buhari has reappointed the incumbent management of the Asset Management Corporation of Nigeria (AMCON) led by Mr Ahmed Lawan Kuru as the Managing Director/CEO for a second and final term of five years. This was disclosed through the official Twitter handle of the Senior Special Assistant to the President on Media and Publicity, Mr Garba Shehu on Monday.

The presidential spokesperson also stated that the President also reappointed Dr Eberechukwu Uneze and Mr Aminu Ismail as Executive Directors of the government debt recovery agency. Their reappointment will also run for five years and final term. Kuru and his team, it would be recalled were first appointed in 2015 when the Mr Mustapha Chike-Obi led management was sacked unceremoniously.

Shehu said the reappointment of the Borno State born Kuru and his colleagues were contained in President Buhari’s letter to the President of the Senate seeking the confirmation of the nominees by members of the Upper Chamber in accordance with Section 10(1) of the AMCON Act, 2010 as amended.

AMCON under Kuru has done remarkably well according to financial experts in the way the Corporation has worked hard traying to recover difficult debts from recalcitrant obligors since they assumed office in 2015. Recent reports from AMCON has it that the agency has recovered over N1trillion from these hardcore obligors who employ and deploy all arsenals in their disposal to fight AMCON. In the process, the agency is reported to have over 3,000 cases in courts with its obligors who try to delay and frustrate AMCON from meeting its mandate.

Undaunted by the antics of the obligors however, AMCON worked with the 8th National Assembly for further amendments in the act especially as it became obvious that a good number of AMCON obligors deliberately explored some technicalities of the law to not only buy time but to delay the repayment of their huge loans given that AMCON has a sunset date. But with the latest amendments, AMCON was further empowered; its recovery effort became more effective, and the time hitherto wasted in legal proceedings minimized all of which is helping AMCON in its enforcement processes.

In a related development, the President also asked the Senate to confirm the nominations of Mr Bello Hassan and Mr Mustapha Ibrahim, as the Managing Director and Executive Director (Operations) of the Nigeria Deposit Insurance Corporation (NDIC). This request according to him was contained in a letter to the President of the Senate, in compliance with Sections 5(4) and 8(3) of the NDIC Act, 2010.

According to him, the two nominees are to succeed Mr Umaru Ibrahim and Prince Aghatise Erediuwa whose second terms end on December 8, 2020. The President’s spokesman said Omolola Edewor would continue as the Executive Director in charge of Corporate Services in the NDIC until her second and final term ends on January 24, 2022.

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