AMCON MD’s Expertise Crucial for Debt Recovery, Says Experts

Nume Ekeghe

Financial sector experts have emphasised the significance of Gbenga Alade’s background as an enterprise-wide risk management professional for his role as the newly appointed Managing Director of Asset Management Corporation of Nigeria (AMCON).

Industry analysts highlighted Alade’s certification in Enterprise Risk Management (ERM) as a key asset. They anticipate that his expertise will enable AMCON to explore alternative strategies, such as debt-equity swaps, and implement effective legal procedures to expedite debt recovery and management.

A risk management expert, Raheem Ajayi, commented in a recent report stated: “He recognizes the onerous responsibility of delivering on the critical mandate of cleaning the financial system…The new man at the saddle at AMCON can be trusted to ensure efficient management and accountable disposal of acquired assets to optimize returns.”

Another industry expert, Miachel Adigun, noted Alade’s track record, particularly during his tenure at the Bank of Montreal, where he contributed to the implementation of risk management frameworks. Adigun expressed optimism that Alade’s leadership would lead to a transformation in AMCON’s approach to debt recovery, reducing instances of evasion and leveraging his experience to enforce accountability.

Alade’s proficiency in risk management and governance control processes was showcased during his time as the Managing Director and Chief Executive Officer of Guaranty Trust Bank in Sierra Leone. Under his leadership, the bank excelled in service delivery and profitability, earning numerous accolades, including consecutive Best Bank Awards in Sierra Leone.