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The Asset Management Corporation of Nigeria (AMCON) recorded a substantial reduction in its asset base in 2025, with total assets falling by 29.8% to ₦1.29 trillion, from ₦1.84 trillion a year earlier.
The decline, disclosed in the Central Bank of Nigeria’s (CBN) 2025 financial statements, came as AMCON continued efforts to resolve its intervention portfolio and settle obligations associated with the banking-sector bailout programme.
Accounting Treatment Drives Asset Reduction
The CBN report indicates that the decline was largely connected to a change in how accruals from the Banking Sector Resolution Sinking Fund were accounted for.
AMCON’s assets, net of impairment, stood at ₦1.28982 trillion in 2025, compared with ₦1.83634 trillion in 2024, representing a 29.76% contraction.
In 2024, accruals from the sinking fund had been recorded as receivables because of delays in applying the funds towards repayment of CBN Loan Notes. By the time AMCON’s 2025 financial statements were finalised, however, the related obligation had already been settled, meaning the 2025 accruals were not recognised as receivables.
The adjustment reflects progress in AMCON’s efforts to deploy sinking-fund resources toward reducing outstanding obligations to the apex bank.
AMCON Records ₦113bn Cash Recoveries
Despite the contraction in its asset base, AMCON continued to generate significant recoveries from debtors and asset disposals during the year.
The corporation recorded ₦113.04 billion in cash recoveries in 2025, while its treasury operations generated ₦39.29 billion in investment income.
With the latest collections, AMCON’s cumulative recoveries since inception reached ₦2.535 trillion by the end of 2025.
The cumulative figure comprised:
- ₦1.031 trillion in cash repayments;
- ₦1.178 trillion in other collections, including ₦128.90 billion from asset forfeitures; and
- ₦196.68 billion classified as other recoveries.
These recoveries form part of AMCON’s broader strategy of using debt collection, litigation, negotiated settlements and asset sales to resolve liabilities arising from the 2009 banking crisis and subsequent financial-sector interventions.
Bank Debtor Recoveries Jump 64% in H1 2026
The corporation’s recovery drive has continued into 2026, with AMCON reporting approximately ₦165 billion recovered from bank debtors in the first half of the year.
The amount represents a 64% increase from the ₦107 billion recovered during the corresponding period of 2025.
AMCON Managing Director and Chief Executive Officer, Gbenga Alade, disclosed the figure during an interactive session with senior media executives in Lagos.
Alade also said the corporation had maintained a 2.3% cost-to-recovery ratio, highlighting the relatively low cost involved in its ongoing recovery activities as it works towards completing its asset-resolution mandate.
Wind-Down Programme Remains Central
The reduction in AMCON’s asset base comes against the backdrop of the corporation’s long-running mandate to resolve assets acquired during efforts to stabilise Nigeria’s financial system.
Rather than indicating a deterioration in recovery activity, the latest figures reflect, in part, the accounting impact of settling sinking-fund obligations and AMCON’s continued disposal and recovery of assets.
As the corporation progresses with its wind-down activities, the pace of debt recovery, asset sales and settlement of outstanding obligations will remain key indicators of how effectively it is bringing its intervention mandate to a close.
