Tinubu Nominates Bala Bello As AMCON Chairman, Seeks Senate Confirmation

President Bola Tinubu has officially requested the Senate to confirm Bala Bello as the new Chairman of the Asset Management Corporation of Nigeria (AMCON).

The request, made in a letter addressed to Senate President Godswill Akpabio, was read on Wednesday.

In addition to the nomination of Bello, President Tinubu also nominated five individuals to join the AMCON board.

The nominees, as outlined in the letter, are in accordance with Section 10, Subsection 1 of the AMCON Establishment Act, 2019 (as amended).

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The nominated individuals are Yusuf Tegina, non-executive director for North-Central; Adeyemo Adeoye, non-executive director for South-West; Charles Odion Iyiore, non-executive director for South-South; Yahaya Ibrahim, non-executive director for North-West; and Emily Osuji, non-executive director for the South-East.

A year ago, President Tinubu dismissed Ahmed Kuru, the former Managing Director (MD) and Chief Executive Officer (CEO) of AMCON.

Kuru had been appointed by former President Muhammadu Buhari in August 2015 and was reappointed for a second term in December 2020. However, his second tenure was cut short by his dismissal, and he was replaced by Gbenga Alade.

Currently, Kuru is facing a court trial alongside four other individuals. They are accused of defrauding Arik Air (which is under receivership) of ₦76 billion and $31.5 million.

Kuru and the other defendants have pleaded not guilty to the six-count charge, which includes allegations of theft of property belonging to Arik Air and abuse of office.