The Asset Management Corporation of Nigeria (AMCON) balance sheet has contracted significantly in 2025 as the corporation pushed ahead with winding down its intervention portfolio and repaying bailout-related obligations to the banking sector. Its total assets, net of impairment, fell by about 29.8% to N1.29 trillion in 2025 from N1.84 trillion in 2024, a sharp decline largely driven by changes in how accruals from the Banking Sector Resolution Sinking Fund were accounted for in its books. According to the Central Bank of Nigeria’s 2025 financial statements, the 2024 accruals from the sinking fund had been recorded as receivables because of delays in applying them to repay CBN Loan Notes, whereas the 2025 accruals were not recognized as receivables since the sinking fund obligation was already settled before AMCON finalized its accounts. This adjustment highlights the progress AMCON is making in deploying sinking fund resources to reduce its outstanding obligations to the Central Bank, even as its reported asset base contracts.
Despite the reduction in assets, AMCON continued to demonstrate strong recovery performance and income generation from its operations. In 2025, the corporation recovered N113.04 billion in cash and earned N39.29 billion in investment income from treasury activities, bringing cumulative recoveries since inception to N2.535 trillion. These recoveries comprise N1.031 trillion in cash repayments, N1.178 trillion in other collections, including N128.90 billion from asset forfeitures, and a further N196.68 billion classified as other recoveries. The figures underscore AMCON’s persistent reliance on debt recoveries, litigation, negotiated settlements and asset sales to unwind the liabilities stemming from its interventions during the 2009 banking crisis and subsequent financial sector support programs.
AMCON’s recent performance also points to rising recovery momentum and operational efficiency. The corporation disclosed that it recovered about N165 billion from bank debtors in the first half of 2026, representing a 64% increase over the N107 billion recovered in the corresponding period of 2025. Managing Director/Chief Executive Officer Gbenga Alade, speaking at an interactive session with senior media executives in Lagos, noted that AMCON has sustained a cost-to-recovery ratio of 2.3%, underscoring the efficiency of its debt recovery framework as it moves closer to concluding its asset resolution mandate and further reducing its exposure to the Central Bank.
