Assets Management Company of Nigeria (AMCON) has reconstituted the Board of PAN Nigeria Limited following the successful restructuring of the automobile company’s debt for equity swap. The new Board of Directors has Alhaji Mohammed MunirJa’afaru, OFR (YarimanZazzau), as Chairman.

It would be recalled that in 2008, the Nigerian Banking Industry had experienced a crises evidenced by huge number of non-performing loans (NPL), inadequate capital ratio and poor corporate governance in many of the banks.

Asset Management Corporation of Nigeria (AMCON) was established on 19th July, 2010 to help revive and stabilize the Nigerian economy by effectively resolving the non-performing loan assets in the Nigerianbanking sector.