On Wednesday, the Senate confirmed Mr. Ahmed Kuru; and Bello Hassan as managing directors of the Asset Managing Corporation of Nigeria; and Nigeria Deposit Insurance Corporation.
The two nominees were confirmed after consideration of the two separate reports of the Senate Committee on Banking, Insurance and Other Financial Institutions.
Others who were confirmed were Ebelechukwu Uneze, and Aminu Ismail as the executive directors of AMCON; and Mohammad Ibrahim as Executive Director of the NIDC.
The Chairman of the Committee on Banking, Insurance and Other Fiscal Institutions, Senator Uba Sani, said Kuru was confirmed as the MD of the AMCON in 2015.
The Senator said, “The Corporation 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 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.”
The lawmaker noted that the re-appointment of the AMCON nominees was in accordance with the provisions of Section 10(3)(a) and (b) of the AMCON; and their nomination for a second and fiscal tenure of five as contained in the Asset Management Corporation of Nigeria (AMCON) Act, 2010 (as amended).
