The Asset Management Corporation of Nigeria (AMCON) is looking to strengthen its debt recovery drive by divesting its interests in telecommunications giant NTEL, following the recovery of N165 billion in distressed assets during the first half of 2026.
Gbenga Alade, Managing Director and Chief Executive Officer of AMCON, disclosed this during an interactive session with senior media executives in Lagos at the weekend. He said the planned sale of NTEL/NATCOM follows the successful divestment of the Ibadan Electricity Distribution Company (IBEDC) and forms part of the Corporation’s strategy to maximise value from distressed assets while attracting credible strategic investors.
According to Alade, AMCON has commenced a transparent and structured divestment programme for NTEL, the successor company to the defunct Nigerian Telecommunications Limited (NITEL), after repositioning the company through a comprehensive three-pronged transformation strategy.
He described the transformation of NTEL as one of AMCON’s most promising asset recovery and investment success stories, expressing confidence that the telecommunications company has been repositioned to attract world-class investors.
“The repositioning effort is designed to maximise value, strengthen operational competitiveness and prepare the business for long-term sustainability under new investment,” Alade said.
