Asset Management Corporation of Nigeria Repays Central Bank of Nigeria

The Nigeria — Asset Management Corporation of Nigeria (AMCON) has repaid N3.6 trillion to the Nigeria — Central Bank of Nigeria (CBN) since its establishment in 2010, exceeding the N1.7 trillion it spent to acquire toxic assets from banks. Despite this, AMCON still has an outstanding balance of N3 trillion, primarily due to interest on the debt. Managing Director and CEO Gbenga Alade highlighted AMCON's role in stabilizing Nigeria's financial system by absorbing non-performing loans and injecting capital into struggling banks. The corporation has intensified its recovery strategy by hiring foreign asset-tracing firms to locate hidden assets of debtors globally. AMCON projects total revenue of N215.15 billion for 2025, with an improved operating-revenue ratio of 13.5%. Alade noted AMCON's recovery rate of over 87% compares favorably with international peers like Malaysia's Danaharta (58%) and China's AMCs (33%), with only South Korea — Korea Asset Management Corporation (KAMCO) achieving a higher rate. The judiciary, including the Nigeria — Federal High Court of Nigeria, has supported AMCON's efforts by fast-tracking cases and creating Insolvency Units. President Bola Tinubu, the Nigeria — Federal Ministry of Interior (Nigeria), and other government agencies have also provided strong backing to AMCON's mandate.