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Senate Okays Muiz Banire as AMCON Board Chairman

By Modupe Gbadeyanka

Former national legal adviser of the ruling All Progressives Congress (APC), Mr Muiz Banire, has been confirmed as Chairman of the Governing Board of Assets Management Corporation of Nigeria (AMCON).

Mr Banire, a former Commissioner in Lagos and a Senior Advocate of Nigeria (SAN) was confirmed for the position on Wednesday by the Senate.

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At the plenary today, Senate’s Chairman on Banking, Insurance and Other Financial Institutions Committee, Mr Rafiu Ibrahim, informed his colleagues that Mr Banire was qualified to hold the post having been screened by his committee.

When the Senate President, Mr Bukola Saraki, asked his colleagues if Mr Banire should be confirmed as Chairman of AMCON Board, they answered in the affirmative.

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Mr Banire was nominated for the position by President Muhammadu Buhari in July 2018 shortly before the Senate went on its annual recess and resumed yesterday for legislative business.

AMCON was established by the Act of the National Assembly of Nigeria in July 2010 with an intended 10 years lifespan.

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The concept is in consonant with the operation of the National Asset Management Agency of the Republic of Ireland and Malaysia Pengurusan Danaharta.

The agency acts as the buyer of banks for the Nigerian Government by acquiring the non-performing loans (NPL).

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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