Odita Sunday 
The Asset Management Corporation of Nigeria (AMCON) has been selected for a Special Recognition (Stellar Performance in Asset Recovery) Award by the management of Daily Telegraph Publishing Company Limited, publishers of New Telegraph titles.
The nomination was conveyed in a letter signed by the Managing Director/Editor-in-Chief of New Telegraph, Mr Ayodele Aminu, and formally presented to the Managing Director/Chief Executive Officer of AMCON, Mr Gbenga Alade, in Abuja.
According to the letter, the nomination followed a comprehensive review by the Board of Editors and Panel of Judges of the newspaper group.
“We wish to use this medium to convey to you, Sir, the nomination of the Asset Management Corporation of Nigeria (AMCON), for the Special Recognition (Stellar Performance in Asset Recovery) Award 2025,” the letter read.
The publishers described AMCON as a global industry leader, citing its exceptional recovery rate relative to peer institutions worldwide.
“Based on the balance at purchase, AMCON outperformed its peers all over the world by achieving over 87 per cent in recoveries despite the unique challenges associated with debt recovery in Nigeria,” the letter stated.
In terms of financial performance, the letter disclosed that AMCON posted N156.25 billion in total revenue in 2024, with projections of N215.15 billion in 2025.
The publishers also underscored AMCON’s stabilising role in Nigeria’s banking sector, particularly in the aftermath of the 2008 global financial crisis.
They noted that AMCON’s legal mandate to manage Non-Performing Loans enabled banks to offload toxic assets, inject fresh capital, and restore depositor confidence.
“With this mechanism, bank depositors retain their deposits, thus enhancing the lenders’ ability to honour their obligations,” the letter added.
The newspaper group further recalled AMCON’s previous recognitions, including awards from Independent Newspapers, NISITF, and USAID-ECR.
Based on these accomplishments, the publishers announced plans to formally honour AMCON at the New Telegraph Awards Ceremony slated for next month in Lagos.
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