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Change in AMCON: Chike-Obi kicked out, Kuru in
Mustapha Chike Obi kicked out of AMCON with other Executive Directors

Change in AMCON: Chike-Obi kicked out, Kuru in


President Muhammadu Buhari on Tuesday approved  sacking of Mustapha Chike Obi and the entire executive management team of the Asset Management Corporation of Nigeria (AMCON).

A statement by the Special Adviser to the President, Media and Publicity, Mr. Femi Adesina, said Buhari also approved the reconstitution of a new management team for the corporation.

With the announcement, Mr Chike-Obi, the pioneer managing director of AMCON whose tenure was due to expire in November this year, has been replaced by Mallam Ahmed Lawan Kuru.

Mallam Ahmed Kuru

Mallam Ahmed Kuru, the MD, AMCON

While the new executive directors (EDs) of the corporation are  Kola Ayeye, Eberechukwu Uneze and Aminu Ismail.

The three new EDs shall be replacing Mofoluke Benedicta Dosumu, Hewitt Adegboyega Benson(son of late legal luminary TOS Benson) and Abbas Mohammed Jega, who were appointed alongside Chike-Obi in 2010.

Before his appointment as the new chief executive of AMCON, Kuru was the immediate past Group Managing Director of Enterprise Bank Limited before it was sold to Heritage Bank Limited by AMCON.

He started his banking career with the defunct Habib Bank in 1985 and rose through the ranks to become an Executive Director of BankPHB (now Keystone Bank) in 2005.

The appointment of Kuru and the three new AMCON executive directors became effective yesterday.

AMCON was created by an Act of the National Assembly to be a key stabilising and revitalising tool to revive the financial system by efficiently resolving the non-performing loan assets of the banks in the Nigerian economy.

Its board was dissolved by Buhari last month when the president ordered a blanket dissolution of all boards of agencies and parastatals belonging to the federal government.

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