The management of the Daily Telegraph Publishing Company Limited, publishers of New Telegraph, Saturday Telegraph and Sunday Telegraph, has nominated the Asset Management Corporation of Nigeria (AMCON) for a Special Recognition Award in acknowledgment of its outstanding performance in asset and debt recovery.
The nomination was conveyed in a letter signed by the Managing Director and Editor-in-Chief of New Telegraph, Ayodele Aminu. The letter, titled Special Recognition (Stellar Performance in Asset Recovery) Award, stated that the honour was approved by the Board of Editors and the Panel of Judges of Daily Telegraph Publishing Company Limited.
According to the letter, New Telegraph considers it part of its institutional responsibility to not only inform and educate the public, but also to spotlight organisations that have demonstrated exceptional leadership and impact within Nigeria’s economy. In this regard, the publication described AMCON as an industry leader among government-owned asset management institutions globally.
The editors noted that, based on the balance at purchase, AMCON has achieved over 87 per cent recovery on acquired assets—an achievement described as remarkable given the structural and legal challenges associated with debt recovery in Nigeria.
AMCON’s financial performance was also highlighted as a key factor behind the nomination. The Corporation recorded a total revenue of ₦156.25 billion in 2024 and has projected a significant increase to ₦215.15 billion in total revenue for 2025, underscoring what the editors described as strong operational efficiency and fiscal discipline.
Beyond revenue and recoveries, the letter emphasised AMCON’s stabilising role in Nigeria’s financial system following the 2008 global financial crisis. Through its statutory mandate to manage non-performing loans (NPLs), AMCON has helped clean up banks’ balance sheets, restore confidence among depositors, and strengthen the overall resilience of the financial sector.
The editors further recalled that AMCON’s performance over the years has earned it several local and international recognitions, including Public Sector Agency of the Year at the Independent Awards 2022, the Nigeria Social Insurance Trust Fund (NSITF) Compliance Award in 2018, and a 2018 award by USAID for its contributions to education support for Internally Displaced Persons (IDPs).
On the strength of these achievements, the letter concluded that AMCON would be formally honoured at the forthcoming New Telegraph Awards Ceremony scheduled to hold next month in Lagos.
