Kola Ayeye is the Executive Director with responsibility for the Credit Directorate of Asset Management Corporation of Nigeria (AMCON).
He is a chartered accountant with a first degree in Accountancy and a Masters degree in Finance, and has thirty years’ experience in Financial Services, Audit and Advisory Services. He was a member of the start-up/turnaround teams of two banks.
Mr. Ayeye was appointed to the Board of Mainstreet Bank in August 2011 as an Executive Director by the Central Bank of Nigeria. Mainstreet Bank was one of the bridge banks created by the Central Bank of Nigeria consequent to solvency and liquidity problems. The mandate to turn the bank around preparatory to sale was successfully accomplished and the bank was sold in Dec 2014. Prior to his appointment to the Management of AMCON, he had assembled a team that acquired a non-bank financial services group with the vision of growing and strengthening the middle class.
Kola Ayeye was the leader of the team that carried out a due-diligence and prepared a turnaround plan for National Bank of Nigeria. National Bank, the first indigenous Nigerian bank, became distressed in 1990. Previous reviews had concluded that recapitalization was not feasible. His team’s plan was accepted by the Central Bank as a credible basis for a restructure. He joined the bank as General Manager after its recapitalization in 2000, and became Chief Executive in 2003. The bank paid its only post-recapitalization dividend in his first year as Chief Executive. He resigned in the course of the merger of the bank with two other banks as part of the consolidation of the Nigerian banking industry. Mr. Ayeye has an enduring passion for economic development and sees his role at AMCON as an opportunity to contribute to employment creation and economic growth.