You Cant Discuss Amcon Sunset With Over N4trn Outstanding Debt Lawmakers

The Chairman, House ofRepresentatives Committee on Banking Ancillary Institutions, Eze Nwachukwu Eze, has said that the committee remains fully committed to partnering with the Asset Management Corporation of Nigeria AMCON, the Central Bank of Nigeria CBN, the Federal Ministry of Finance, and other stakeholders to draft and refine legislation that smoothens the Corporations exit strategy in line with international best practices.

Eze said this last week at the stakeholders roundtable on the AMCON sunset strategy organized by the House of Representatives Committee on Banking and Other Ancillary Institutions held at the Royal Institute for Training Human Capital Development in Niger State.

He recalled that since AMCONs establishment in 2010, the Corporation has served as an essential institutional mechanism in stabilizing the Nigerian financial system. In the wake of the global financial crisis and its local reverberations, AMCON provided a lifeline to banks drowning in toxic assets and non-performing loans, thereby safeguarding the integrity of the Nigerian financial architecture. Its mandate was clear and concise: to prevent systemic collapse, to safeguard depositors funds, and to stabilize the credit environment for sustainable economic recovery.

He said, The reality is that the wind-down of AMCON cannot and must not be viewed as a simple administrative closure. It represents a significant milestone in Nigerias economic evolution one that requires careful thought, meticulous planning, and broad stakeholder consensus. An exit strategy that is rushed, poorly designed, or inconsistently implemented could undo years of financial stabilization work and expose the banking sector to systemic risks. On the other hand, a well-structured, carefully sequenced, and policy-aligned exit will serve as a testament to Nigerias institutional maturity and financial resilience.

The task before us, therefore, is not merely to discuss if AMCON should exit that decision is embedded in its founding principles but how and when it should exit in a manner that is responsible, efficient, and forward-looking. We must ensure that the outcome of this roundtable discussion provides actionable pathways and clear policy recommendations that address existing gaps, align stakeholder expectations, and guide future financial stability frameworks.