The Asset Management Corporation of Nigeria (AMCON) has announced the recovery of N165 billion in the first half of 2026, while also revealing plans to divest its stake in emerging telecommunications company ntel. The disclosure was made during the corporation’s quarterly performance review held in Abuja.
Record Recovery in First Half of 2026
AMCON’s recovery of N165 billion in H1 2026 represents a 22% increase compared to the N135 billion recovered in the same period in 2025. According to a statement from AMCON’s Managing Director, Ahmed Kuru, the achievement was driven by intensified loan recovery efforts and better resolution of non-performing loans (NPLs) from the banking sector. “This performance underscores our commitment to maximizing recoveries for the Nigerian taxpayer and the financial system,” Kuru said.
The corporation noted that the recoveries came from a mix of cash payments, asset seizures, and negotiated settlements. A significant portion of the funds was realized from high-profile debtors in the oil and gas, aviation, and manufacturing sectors.
Plans to Divest from ntel
In a strategic move, AMCON also confirmed its intention to divest from ntel, the telecom company formerly known as NITEL. AMCON currently holds a 90% equity stake in ntel, which it acquired following the collapse of the original NITEL. The corporation is now seeking to exit the telecom investment to focus on its core mandate of asset recovery.
“We have engaged financial advisers to help structure the divestment process. Our goal is to attract a credible core investor with the technical expertise to grow ntel and ensure its long-term viability,” Kuru added. The divestment is expected to occur through a competitive bidding process, with interested parties required to submit expressions of interest by the fourth quarter of 2026.
The ntel divestment is part of AMCON’s broader exit strategy from non-core assets. Since its inception in 2010, AMCON has acquired numerous distressed assets, and the planned sale of ntel represents one of its largest remaining holdings.
Impact on Financial Sector and Economy
Analysts have welcomed the recovery figures, noting that AMCON’s improved collection efforts are helping to clean up the balance sheets of Nigerian banks. The N165 billion recovery brings AMCON’s total recoveries since inception to over N1.8 trillion. However, the corporation still holds N3.2 trillion in outstanding NPLs, according to its latest audited accounts.
The divestment from ntel is also seen as a positive signal for Nigeria’s telecom sector, which has seen increased competition and consolidation. A successful sale could provide ntel with the capital injection needed to expand its network infrastructure and compete more effectively with market leaders MTN and Glo.
AMCON will provide further details on the divestment process in the coming months, including the timeline and valuation expectations.
