The Asset Management Corporation of Nigeria (AMCON) recovered approximately N165 billion from debtors in the first half of 2026, representing a 64 percent increase compared with the N107 billion recovered during the same period in 2025, as the Corporation also commenced plans to divest its controlling interest in telecommunications company NTEL.
The improved recovery performance underscores AMCON’s ongoing efforts to strengthen debt recovery while unlocking value from distressed assets. The Corporation said the planned sale of its stake in NTEL follows the successful divestment of the Ibadan Electricity Distribution Company (IBEDC) and aligns with its strategy of attracting credible investors into businesses it has restructured.
The announcement comes as AMCON continues to accelerate asset recovery and reposition key investments for long-term sustainability. Brandspur Banking News Desk reports that the Corporation maintained a cost-to-recovery ratio of 2.3 percent during the review period, highlighting the operational efficiency of its recovery programme.
AMCON said NTEL is currently implementing a comprehensive transformation programme designed to improve its competitiveness, strengthen operations and prepare the telecom operator for new strategic investment. The Corporation expressed confidence that the restructuring initiative will enhance the company’s long-term viability and increase its attractiveness to prospective investors.
The Corporation also disclosed that it recently secured a significant Supreme Court judgment reinforcing its statutory powers to recover outstanding debts. According to AMCON, the ruling affirmed that the AMCON Act provides a special legal framework for debt recovery, confirmed the Corporation’s exemption from stamp duties and upheld its authority to dispose of pledged collateral to recover debts owed by obligors.
Despite renewed calls in some quarters for the Corporation to be wound down, AMCON maintained that decisions regarding its eventual exit remain the responsibility of its Board and the Central Bank of Nigeria. It added that its immediate priority remains recovering outstanding obligations and protecting public funds.
The Corporation further stated that it has strengthened collaboration with debt recovery agents, solicitors and receiver managers while reviewing commission structures to improve recovery performance under prevailing economic conditions.
NTEL, which emerged from the assets of the defunct Nigerian Telecommunications Limited (NITEL), has undergone extensive restructuring since AMCON assumed full management control in 2024. The Corporation currently holds a 55 percent controlling stake in the telecom company and injected N30.72 billion into its turnaround programme in 2025 as part of efforts to restore operational stability ahead of its planned divestment.
