Senate panel screens AMCON chair, asks corporation to prepare report ahead of wind-down
The Senate Committee on Banking, Insurance and Other Financial Institutions has directed the Asset Management Corporation of Nigeria (AMCON) to prepare a comprehensive report on its operations ahead of the corporation’s planned wind-down in 2030.
In April 2025, the House of Representatives Committee on Banking and Other Financial Institutions held a stakeholders’ roundtable on AMCON’s sunset strategy, where legislators, regulators and industry stakeholders discussed how the corporation should conclude its operations while ensuring that unresolved debts and liabilities do not threaten financial stability.
Mr Musa noted that AMCON was established to address challenges arising from non-performing loans, distressed banks and other financial sector liabilities, adding that its statutory lifespan is expected to end in 2030.
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