Senate confirms AMCON, NDIC chiefs

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The Senate on Wednesday confirmed Ahmed Kuru as managing director of the Asset Management Corporation of Nigerian (AMCON).

The upper legislative chamber also confirmed Bello Hassan as Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC).

Other nominees confirmed during the plenary were Ebelechukwu F. Uneze as Executive Director for AMCON and Muhammad Ibrahim, Executive Director for NDIC.

The confirmation of the nominees followed consideration of two separate reports of the Senate Committee on Banking, Insurance and Other Financial Institutions.

The Chairman of the Committee, Uba Sani, said Kuru was confirmed as AMCON MD in 2015.

Sani said: “AMCON saw tremendous and tangible transformation and performance in effectively discharging its mandate during his first tenure through the introduction of new policies and frameworks.

“Strategically under his leadership, AMCON partnered with investors and operators for the value-enhanced exit of its portfolio companies as well as the introduction and implementation of the Asset Management Partners scheme to assist with the resolution of small loans which in turn created over 3000 jobs both directly and indirectly.

“He also championed the creation of the Asset Tracing Unit which has led to more extensive discovery of assets and subsequent recovery of indebtedness while simultaneously having proactive negotiations with debt holders to achieve prompt and optimal settlements.”

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