The concept is in consonance with the operation of the National Asset Management Agency of the Republic of Ireland and Malaysia Pengurusan Danaharta.
[1] The body acted as the buyer of banks for the Nigerian Government by acquiring the non-performing loans (NPL).
As a result of global financial crisis and domestic events, the federal government of Nigeria through the operation of Central Bank of Nigeria conceptualized the idea for the establishment of a body that will prevent the looming financial crisis in the country.
[2][3] In 2013, the management of the International Monetary Fund through their report advised the Federal Government of Nigeria to stop the operations of AMCON in order to avoid future financial challenges.
The House of Representatives of Nigeria in his submission in 2015, queried the excess debt accumulation by the body.