PMB Removes AMCON Chairman, Banire, Nominates Edward Adamu As New Chairman

President Muhammadu Buhari has ordered the sack of the Chairman, Asset Management Corporation of Nigeria (AMCON), Muize Banire and consequently nominated Edward Lametek Adamu as the new Chairman.

President Buhari, having sent Adamu’s name in a letter to the Senate on Tuesday for confirmation without a reason for Mr Banire’s removal, is optimistic that the incoming chairman will take AMCON to the next level.

Edward Adamu was born on June 22, 1959 in Kaltungo LGA of Gombe State, he is married with four children , and has acquired over twenty five years of experience at the Central Bank of Nigeria. 

He has a degree in Engineering (Quantity Surveying), Second Class Upper from the Faculty of Engineering at Ahmadu Bello University Zaria, he is a Fellow of the Nigerian Institute of Quantity Surveyors.  He has several postgraduate professional certifications from the Institute of Credit Administration of Nigeria, Wharton School USA, INSEAD France, Chicago Booth & IMD Switzerland.  

He is an active member of several professional bodies including the Nigerian Institute of Quantity Surveyors; Project Management Institute, USA; International Knowledge Management Institute, USA; International Society for Performance Improvement, USA; and the Association of Project Managers, UK.  

He joined the Central Bank of Nigeria (CBN) in June 1992 and in 2012, was appointed Director of the Strategy Management Department where he was responsible for alongside the Board of the bank, ensuring that the “CBN has a clearly articulated strategy that would ensure the delivery of the Mandate of the Bank, organizational alignment and focus on strategy – from development to execution – by integrating Strategy-Focused concepts, principles, and best practices into the fabric, cadence, and processes of the organization.”  

As Director of Strategy, he was a member of the Monetary Policy Implementation Committee and the Financial Services Regulatory Coordination Committee as well as an observer at the Monetary Policy Committee (MPC). 

In 2016, he was appointed Director, Human Resources Department with the task of developing the Human Capital assets of the regulator.  

In 2008 he was seconded for two years to the Gombe State Government to set-up and run a strategic framework for best practices in procurement.  

In 2010, he served as Programme Director (Head of the Projects Planning and Implementation Division) handling multi-dimensional large scale projects for the Bank.  

In 2004 as an Assistant Director, he was the Head of the Non-core Team under a Re- engineering and Re-structuring program (Project EAGLES) undertaken to re-position the Bank working with Accenture Consulting.  

In 2005, he led the Knowledge Management Team where he oversaw the development of a Knowledge Management Framework for the Bank.  

In 2006 as a Deputy Director, he served as Head of Business Support Division of the Bank handing a portfolio of teams and functions including Knowledge Management, Records Management, Strategic Alliance and Price Intelligence.  

Between 1992 and 2003, he served in several offices of the Engineering Services Department of the Bank handling Project Conception, Evaluation, Contract Documentation, Cost Planning & Control, Project Implementation and Closure of several projects of the Bank including the current CBN Head Office Abuja. Rising from the position of a Manager to an Assistant Director. 

He is a member of several Board and Project Steering Committees of the Bank including; Budget; Staff Matters; Pension Fund Management; Establishment, Enterprise Learning, Assets Disposal and REAL SPARC Project. 

Similarly, President Buhari also incorporated names of other members of the board of the Federal Inland Revenue Service in his letter.

The names that were included in the letter are, James Yakwen Ayuba, Ado Danjuma, Adam Baba Mohammed, Ikeme Osakwe, Adewale Ogunyomade and Ehile Adetola Aigbangbee.

Mr Banire, 53, was appointed head of AMCON in December 2018.

The development comes a day after the president replaced Tunde Fowler as the head of Federal Inland Revenue Service, despite an appeal from Mr Fowler to be retained for a second term.

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