AMCON Recovers N165bn in H1 2026, Plans NTEL Repositioning

In the first half of 2026, the Asset Management Corporation of Nigeria (AMCON) recovered approximately N165 billion, which represents a 64% increase compared to the N107 billion recovered during the same period in 2025. Mr. Gbenga Alade, the Managing Director and Chief Executive Officer of AMCON, disclosed these figures during a media session in Lagos.

He noted that AMCON has initiated a divestment process in the telecommunications sector following the successful sale of the Ibadan Electricity Distribution Company (IBEDC). Alade also announced a landmark Supreme Court judgment affirming that the AMCON Act is a special legal regime, exempting AMCON from stamp duties and allowing it to dispose of collateral assets for debt recovery.

Furthermore, he outlined a comprehensive transformation strategy for NTEL, the successor to NITEL, aimed at making it an attractive investment opportunity. Alade expressed confidence in the management of NTEL/NATCOM, emphasizing their role in the company's growth.