LAGOS — The Asset Management Corporation of Nigeria recovered approximately N165 billion ($107m) from bank debtors in the first half of 2026, representing a 64% surge from N107 billion recorded in H1 2025.
Managing Director Gbenga Alade disclosed the figures in Lagos over the weekend, noting the agency achieved the performance while maintaining a cost-to-recovery ratio of 2.3% during the six-month review period.
The recovery surge follows aggressive operational reforms, including a reviewed commission structure for recovery agents and solicitors designed to accelerate collections on legacy non-performing bank loans across Nigeria.
To further optimize asset value, AMCON announced the divestment of its stake in telecommunications firm NTEL, the successor to defunct Nigerian Telecommunications Limited, following its recent sale of Ibadan Electricity Distribution Company.
Recent operational momentum was strengthened by a landmark Nigerian Supreme Court judgment affirming AMCON’s exemption from stamp duties and confirming its statutory power to liquidate collateral assets regardless of debt size.
Alade dismissed calls for winding down the corporation, attributing such demands to recalcitrant debtors seeking to frustrate enforcement, emphasizing that sunset decisions reside solely with the Board and Central Bank.
