The Senate Wednesday confirmed the nominations of Ahmed Lawan Kuru; and Bello Hassan as Managing Directors of the Asset Management Corporation of Nigerian; and Nigeria Deposit Insurance Corporation, respectively.
The confirmation of both nominees followed consideration of two separate reports of the Senate Committee on Banking, Insurance and Other Financial Institutions.
Also confirmed are Ebelechukwu F. Uneze and Aminu Ismail as Executive Directors of AMCON; and Muhammad Ibrahim as Executive Director of the Nigeria Deposit Insurance Corporation.
Chairman of the Committee on Banking, Insurance and Other Financial Institutions, Senator Uba Sani (APC – Kaduna Central), in his presentation, said Kuru was confirmed as the Managing Director of the Asset Management Corporation of Nigeria in 2015, adding that, “the Corporation saw tremendous and tangible transformation and performance in effectively discharging its mandate during his first tenure through the introduction of new policies and frameworks.”
“Strategically under his leadership, AMCON partnered with investors and operators for value-enhanced exit of its portfolio companies as well as the introduction and implementation of the Asset Management Partners (AMP) scheme to assist with the resolution of small loans which in turn created over 3000 jobs both directly and indirectly.
“He also championed the creation of the Asset Tracing Unit which has led to more extensive discovery of assets and subsequent recovery of indebtedness while simultaneously having proactive negotiations with debt holders to achieve prompt and optimal settlements,” the lawmaker said.
Sani noted that the re-appointments of the AMCON nominees are in accordance with the provisions of Section 10(3)(a)and(b) of the Asset Management Corporation of Nigeria; and their nomination for a second and final tenure of five (5) as enshrined in the Asset Management Corporation of Nigeria (AMCON) Act, 2010 (as amended)
Presenting the report on the screening of the nominees to the Plenary, Chairman of Senate Committee on Banking, Insurance and Other Financial Institutions,
On the two NDIC nominees, Sen. Uba Sani informed the Senate that his committee established that the two appointments were in accordance with Sections 54 and 83 of the NDIC Act No 16 of 2006 as amended. He also said his committee found out that both Hassan and Ibrahim possessed the required technical knowledge, academic qualifications and professional experience to serve as MD/CE and ED (OPs) of NDIC respectively.
It would be recalled that President Muhammadu Buhari on December 18 forwarded the names of Hassan and Ibrahim as NDIC’s MD/CE and (ED (OPs) nominees respectively to the Senate for screening and confirmation.
Before his appointment as NDIC’s MD/CE, Hassan was the Director, Banking Supervision Department of the Central Bank of Nigeria (CBN), a position to which he was appointed in February, 2020. Prior to that, he served in the Operations Directorate and as Director, Other Financial Institutions Department of the Apex Bank.
A seasoned and consummate bank examiner of over three decades, Bello joined the services of the CBN in 1990 after a stint with the Katsina State Ministry of Finance.
At the CBN, Hassan also represented the apex bank on the board of different flagship public Corporations including the NDIC, Assets Management Corporation of Nigeria (AMCON), Financial Institutions Training Center (FITC), FMDQ Clear Ltd., and Governing Council of the Chartered Institute of Bankers of Nigeria (CIBN).
The new NDIC Boss was a 1988 B.Sc. (Hons) Accounting graduate from the Ahmadu Bello University (ABU) Zaria. He also consolidated his academic career with a corresponding MBA from the same university in 2006; in addition to a Diploma in Business Continuity Management from Coventry University, UK. He is also a fellow of the Institute of Chartered Accountants of Nigeria.
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