Section 47: Dissolution and winding-up of the Corporation. (amended by Section 13 of the Asset Management Corporation of Nigeria Amendment Act, No. 2, 2019)

(1) At dissolution date, the Corporation shall stand dissolved and the Corporation's Board of Directors shall appoint, upon such terms as it deems fit, one or more liquidators to wind up the affairs of the Corporation, realise all assets of the Corporation to be dealt with and distributed in accordance with section 48 (2) of this Act.
(2) Upon dissolution of the Corporation:
(a) all unresolved eligible bank assets then held by the Corporation shall be transferred by the liquidator or joint liquidators to such government agency, or for valuable consideration, to a third party asset management company or other entity specified by the Central Bank of Nigeria;
(b) all then existing staff of the Corporation shall be re-deployed to and absorbed into the Central Bank of Nigeria or the Nigeria Deposit Insurance Corporation; and
(c) the provisions of section 60R (2)-(6) of this Act, shall apply to this section as if the references therein to the Board of Trustees and the Resolution Cost Fund were respectively references to the Board of the Corporation and the Corporation.
(3) The assets of the Corporation remaining after the redemption of all debt securities and discharge of all payment or repayment obligations shall, at its eventual dissolution, be transferred to the Fund of the Corporation and distributed by the Governor between the subscribers to the capital of the Corporation in proportion to their respective stake in the authorised capital of the Corporation.