Nigeria, Nov. 25 -- I am delighted to welcome you at this retreat, themed "Transitioning Beyond AMCON: Navigating the Path to Sustainable Financial Stability," which provides an invaluable opportunity for us to reflect on the critical role that AMCON has played in stabilising our financial sector and to chart the path forward in view of its sunset clause.

You will recall that following the signing into law of the AMCON Bill in July 2010, the Corporation was established as an intervention agency to halt the drift caused by Non-Performing Loans (NPLs) in the banking industry, with its adverse impact on savers and the entire economy. From available records, the Corporation had acquired, at inception, over 12,000 NPLs worth about N3.7 trilli...