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.
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| 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.
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