Asset Management Corporation of Nigeria

The Asset Management Corporation of Nigeria (AMCON) is a government-backed organization established in 2010 to stabilize the financial system. Its main role is to buy non-performing loans and distressed assets from Nigerian banks, helping them recover and continue lending. By doing so, AMCON helps maintain financial stability, protect depositors, and support economic growth. Essentially, it acts as a resolution mechanism to manage and resolve banking sector challenges, ensuring the health of Nigeria’s financial system while allowing banks to operate more effectively.