President Muhammadu Buhari, has dissolved the management team of the Assets Management Corporation of Nigeria, AMCON, headed by Mustapha Chike-Obi.

The president also appointed Ahmed Lawan Kuru to replace Chike-Obi as the new managing director of the corporation.

Others appointed as executive directors of AMCON are Kola Ayeye, Eberechukwu Uneze and Aminu Ismail. The trio would subsequently take over as the executive management team of the body.

According to a press statement by presidential spokesperson, Femi Adesina, the appointments take immediate effect.

Until his appointment, Kuru was the group managing director of Enterprise Bank Limited. He started his banking career with the Habib Bank in 1985 and rose through the ranks to become an executive director of Bank PHB, now known as Keystone Bank, in 2005.