Kuru takes over from Chike-Obi as AMCON MD

President Muhammadu Buhari has replaced Mustafa Chike-Obi with Ahmed Lawan Kuru as the chief executive of the Asset Management Corporation of Nigeria (AMCON).

Buhari also dissolved the executive management team, whose five-year has ended.

Femi Adesina, special adviser to the president on media and publicity, revealed this in a statement issued on Tuesday.

Adesina also said the president has approved the reconstitution of management team of the corporation with Kola Ayeye, Eberechukwu Uneze and Aminu Ismail as executive directors.

Before his appointment, Kuru was the group managing director of Enterprise Bank Limited.

He started his banking career with Habib Bank in 1985 and rose through the ranks to become an executive director of Bank PHB (now Keystone Bank) in 2005.

According to the statement, the appointments of Kuru and the three executive directors, takes effect from August 18.

Chike-Obi (pictured) was appointed MD in 2010 for a renewable five-year term, along with three EDs – Howett Adegboyega, Muhammed Abbass Jega and Mofoluko Benedicta and a non executive director, Eniya Ambakaderemor.