AMCON Plans NTEL Divestment Amid ₦165bn Debt Recovery

The Asset Management Corporation of Nigeria (AMCON) has announced plans to divest its interests in the telecommunications sector, specifically targeting NTEL/NATCOM, to attract strategic investors. This announcement was made by AMCON's Managing Director and Chief Executive Officer, Gbenga Alade, during an interactive session with senior media executives in Lagos.

Alade stated that following the successful divestment of the Ibadan Electricity Distribution Company, AMCON has initiated a structured process for the telecommunications sector. NTEL, the successor to the former Nigerian Telecommunications Limited, is undergoing a three-pronged transformation strategy to enhance its attractiveness to investors.

Alade expressed confidence in the management of NTEL/NATCOM, citing their experience and commitment. He also reported that AMCON recovered approximately ₦165 billion between January and June, a 64% increase from ₦107 billion in the same period in 2025.

Additionally, AMCON secured a landmark Supreme Court judgment affirming the special legal regime of the AMCON Act, which is crucial for debt recovery.