The Asset Management Corporation of Nigeria (AMCON) recovered N165 billion from obligors in the first half of 2026, marking its strongest half-year performance in recent years and underscoring renewed momentum in the country’s effort to resolve distressed assets.
The recovery, achieved between January and June 2026, represents a 64% increase from the N107 billion recovered during the corresponding period in 2025, according to AMCON Managing Director, Gbenga Alade.
Speaking during an interactive session with senior media executives in Lagos, Alade attributed the improved performance to stronger operational efficiency, highlighting a cost-to-recovery ratio of 2.3%. The ratio measures the amount spent to recover outstanding debts, with a lower figure indicating greater efficiency.
“We are not resting on our oars,” Alade said, adding that the corporation remains focused on accelerating debt recoveries while preserving value from distressed assets acquired during Nigeria’s banking crisis.
A major boost to AMCON’s recovery efforts came from a recent Supreme Court judgment, which Alade described as a landmark legal victory. According to him, the apex court affirmed that the AMCON Act constitutes a special legal framework, exempting the corporation from paying stamp duties on eligible transactions and reinforcing its statutory authority to seize and dispose of collateral pledged by debtors, irrespective of the size of the outstanding obligations.
The ruling is expected to strengthen AMCON’s legal position in pursuing delinquent borrowers and reduce procedural hurdles that have historically slowed debt recovery efforts.
In a parallel development, the corporation has commenced a structured divestment process for NTEL/NATCOM, the telecommunications company that emerged from the assets of the defunct Nigerian Telecommunications Limited (NITEL). The move follows AMCON’s successful sale of the Ibadan Electricity Distribution Company (IBEDC) and forms part of its broader strategy to maximise recoveries from distressed investments.
Alade described NTEL as one of AMCON’s most promising turnaround stories, citing ongoing efforts by the company’s board and management to improve operational efficiency, enhance competitiveness, and position the business for long-term sustainability under new investors.
The planned divestment is expected to attract strategic investors seeking opportunities in Nigeria’s telecommunications sector while enabling AMCON to unlock additional value for creditors and taxpayers.
Addressing renewed calls for the corporation to wind down its operations, Alade argued that some of the loudest advocates for AMCON’s closure are indebted obligors seeking to frustrate recovery efforts. He maintained that any decision regarding the corporation’s sunset remains the exclusive responsibility of AMCON’s Board and the Central Bank of Nigeria (CBN).
As the NTEL sale process progresses, AMCON said it will provide further updates as key transaction milestones are achieved, reaffirming its commitment to maximizing recoveries and strengthening confidence in Nigeria’s financial system.
