By Dipo Olowookere
Managing Director/Chief Executive Officer of the Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, has disclosed that his agency has carried out an internal restructuring so as to achieve better outcomes in its asset resolution operations.
Speaking at a two-day Asset Sales Strategy Retreat held last week in Abuja, Mr Karu said part of the new strategy AMCON plans to adopt would be to expand the scope of its sales by engaging professionals from the real estate and law sectors.
The AMCON chief lamented that part of the agency’s challenges was the increasing decline in the its ability to dispose of assets at competitive market rates due to the several factors, including inflation among other market dynamics.
According to him, one of the key objectives of AMCON is to obtain the best achievable financial returns for all assets acquired.
He said since inception of the organization in 2010 till December 2017, a total of N731 billion has been recovered, noting that a bulk of the recoveries were in form of assets, with properties value accounting for about 35 percent of the amount.
But he said the agency was now working with experts in the real estate business as well as legal professionals on how to solve the identified problems.
“We have convened a forum for some of the most resourceful real estate professionals and legal experts to help brainstorm through the issues and proffer practical solutions to the challenges confronting AMCON.
“We have also invited critical regulatory stakeholders to contribute to the discourse toward finding workable solutions on how to dispose a stockpile of assets we have been finding difficult to dispose in the regular open market.
“We just want to get the best achievable financial returns for all assets acquired, Mr Karu, who was represented at the event by the Executive Director in charge of Operations, Mr Aminu Ismail, stated.
Adedapo Adesanya 
Modupe Gbadeyanka