During his screening for the AMCON job in 2010, Chike-Obi promised to stick to the three cardinal objectives of the company. He said the three objectives were to acquire the toxic loans, manage them, and dispose the acquired assets at a profit. He pledged that under his management, AMCON would not stray into other challenging areas in the banking system. So far, he has successfully kept to his promise and forestalled major crisis in the banking sector.
The three Nigerian banks acquired are on course to being sold to worthy buyers. AMCON has also restructured and recovered over 10 per cent of NPLs it acquired. In the process, AMCON has admirably balanced maximum recovery with minimum disruption of viable businesses, helping to save a lot of employees’ jobs.
|Mustafa Chike-Obi is the CEO of AMCON|
Read his interview on growing up with mathematics, his love of sports, and his commitment to the 'common man' HERE.