Aliyu K. Belgore: An Accomplished Banker for AMCON

In Nigeria the name Belgore is synonymous to law at highest level, but unlike other popular Belgores from the Ilorin Emirate who are lawyers, magistrates and judges, Aliyu Kola Belgore is a thorough bred and an accomplished banker of repute. He was recently confirmed by the Senate of the Federal Republic of Nigeria as the Chairman of the Board of the Asset Management Corporation of Nigeria (AMCON).

He holds a diploma in Accountancy (1964) and Bachelor of Science in Economics (1969) from the Ahmadu Bello University, Zaria, Belgore also possesses a Masters in Business Administration degree (1973) from the ADL Management Institute, Boston, Massachusetts, USA, under the sponsorship of the United Nations.

He began his working career in 1965 in the Northern Nigeria Civil Service where was appointed an Assistant Executive Officer in the office of Premier of  Northern Region, Sir Ahmadu Bello, the Sardauna of Sokoto.  By 1969, he moved to the New Nigerian Development Company (NNDC) as an Investment Executive from where he was appointed General Manager of Nigerian Leatherworks Company, one of the subsidiaries of the Northern Nigeria Development Corporation (NNDC) in Kano in 1974, and in 1976 he was made the Head of Investment Department of (NNDC).  During his administration the portfolio of NNDC grew from less than 40 firms to over 100 companies. With the establishment of Kaduna Textiles Limited in 1978, he was made the first indigenous Managing Director and chief executive officer.

Destined to be a banker, Belgore commenced his banking career in 1981 when he was appointed Assistant General Manager of Union Bank of Nigeria Plc from where he moved to the Nigerian Merchant Bank in 1984 as the Deputy Managing Director and subsequently promoted as Managing Director of the Bank.

One of his great achievements in the banking sector was in the 90s when he was invited to turn-around Savannah Bank of Nigeria Plc as the Managing Director, he left in 1999 after he had successfully stabilised the bank.

His most recent successful outing was in 2000 when he was appointed the chairman of Afribank Nigeria Plc. Belgore led a team of committed board and management in initiating and implementing far-reaching strategies that stabilised the Bank for optimal performance.  The bank successfully recapitalised in meeting the mandatory consolidation requirement of the Central Bank of Nigeria in 2004 and the raised additional capital in 2007. Not only did the bank under him acquire Lead and Assurance Banks under Purchase & Assumption option of the NDIC, it also won Euromoney Industrial Deal of the Year Award in 2007.

He has been a financial consultant to both local and international institutions. He was credited with facilitating and establishing the Inland Bank and the North-Central State Investment Company Limited.

Aliyu Kola Belgore has served as a Director on the Boards of several companies which include Nigerian Stock Exchange, Bewac Limited, Arewa Hotels Limited, Nigerian Sugar Company, Cement Company of Northern Nigerian, Makeri  Smelting Company,  Jos. Others are NAL Merchant Bank, Cooperative and Commerce Bank, Nigeria Sugar Company, Kwara State Housing Corporation, Profund Securities Limited and Nigeria Hotels Limited.

A fellow of the Chartered Institute of Bankers (FCIB), holder of the Order of the Federal Republic (OFR) and traditional title of Jarman Ilorin, he is a philanthropist and member of notable professional bodies and social clubs.


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