Tinubu asks senate to confirm Bala Bello as AMCON chairman

President Bola Tinubu has asked the senate to confirm Bala Bello as chairman of the Asset Management Corporation of Nigeria (AMCON).

The request was addressed in a letter to Senate President Godswill Akpabio and read on Wednesday.

Tinubu also nominated five individuals to the AMCON board.

In the letter, Tinubu said the nominations were in accordance with Section 10, Subsection 1 of the AMCON Establishment Act, 2019 (as amended).

The nominees include Yusuf Tegina, non-executive director for north-central; Adeyemo Adeoye, non-executive director for south-west; Charles Odion Iyiore, non-executive director, south-south; Yahaya Ibrahim, non-executive director, north-west; and Emily Osuji, non-executive director for the south-east.

A year ago, Tinubu sacked Ahmed Kuru, the managing director (MD) and chief executive officer (CEO) of AMCON.

He appointed Gbenga Alade as his replacement.

Kuru was first appointed AMCON MD by former president Muhammadu Buhari in August 2015.

After concluding his first term of five years, Kuru was reappointed in December 2020, but he was sacked before the second tenure ended.

He is currently facing a court trial, alongside four others, over an allegation of defrauding Arik Air (currently in receivership) of N76 billion and $31.5 million.

Kuru and the other defendants have pleaded not guilty to the six-count charge bordering on theft of properties belonging to Arik Air and abuse of office.