The Asset Management Corporation of Nigeria recovered approximately N165 billion from bank debtors in the first half of 2026, representing a 64 per cent increase from the N107 billion recovered during the same period in 2025.

AMCON’s Managing Director and Chief Executive Officer, Gbenga Alade, disclosed this during an interactive session with senior media executives in Lagos over the weekend.

He said the Corporation had maintained a cost-to-recovery ratio of 2.3 per cent, reflecting the efficiency of its debt recovery operations.

Alade also disclosed that AMCON had commenced the process of divesting its interest in telecommunications company NTEL, which it rescued in 2024 after the company encountered serious financial difficulties.

The Corporation said the planned divestment followed the successful sale of the Ibadan Electricity Distribution Company (IBEDC) and formed part of its strategy to maximise value from distressed assets while attracting credible strategic investors to the telecommunications sector.

Alade said NTEL had commenced the implementation of a three-pronged transformation strategy aimed at repositioning the company as an attractive investment opportunity for global investors.

He described the ongoing transformation as one of AMCON’s most promising asset recovery initiatives, expressing confidence that it would emerge as a major success story in Nigeria’s telecommunications sector.

“The repositioning effort is designed to maximise value, strengthen operational competitiveness and prepare the business for long term sustainability under new investment,” Alade said.

He added that AMCON had confidence in the Board and Management of NTEL/NATCOM, noting that their experience and commitment had laid a strong foundation for the company’s next phase of growth.

“We have full confidence in the Board and Management of NTEL/NATCOM as they continue to demonstrate experience, innovation, diligence and commitment towards positioning this Nigerian owned company to compete favourably with its peers both locally and internationally,” he said.

Alade said AMCON would provide further updates on the divestment process as key milestones are reached, while reiterating the Corporation’s commitment to transparency.

Alade also announced that AMCON had recently secured what he described as a landmark Supreme Court judgment that strengthens the Corporation’s debt recovery powers.

According to him, the apex court affirmed that the AMCON Act constitutes a special legal regime that should be interpreted purposively, given that the Corporation was established to address the financial crisis arising from the banking sector challenges of 2008.

He said the court also ruled that AMCON was exempt from paying stamp duties and affirmed the Corporation’s statutory authority to dispose of collateral assets to recover outstanding debts, regardless of the size of an obligor’s indebtedness.