President Muhammadu Buhari has approved the dissolution of the Executive Management Team of the Assets Management Corporation of Nigeria (AMCON).
Buhari appointed Ahmed Lawan Kuru as new Managing Director of the Corporation to replace Mustafa Chike-Obi.
Kola Ayeye, Eberechukwu Uneze and Aminu Ismail were appointed as Executive Directors into the new executive management team of Corporation.
Until his appointment as Managing Director of AMCON, Kuru was the Group Managing Director of Enterprise Bank Limited.
He started his banking career with the old Habib Bank in 1985 and rose through the ranks to become an Executive Director of Bank PHB (now Keystone Bank) in 2005.
The appointment of Mr. Kuru and the three new AMCON Executive Directors is with effect from Tuesday, August 18, 2015.
Chike-Obi was appointed AMCON MD by former President Goodluck Jonathan in August 2010.
Son of renowned mathematics professor, Chike Obi, the former AMCON boss was previously founder and managing partner of Madison Park Advisors, a financial service advisory and consulting firm in New Jersey, USA, specialising in hedge fund and private equity investment advice.
The AMCON bill was signed into law on July 19, 2010 to curtail the crisis of toxic assets in the banking sector, then estimated at over N2 trillion.
