AMCON recuperates N307bn debts in two years

The Asset Management Corporation of Nigeria recuperated a sum of N307 billion debts in the range of 2020 and 2021.

An inter-agency committee set up on the recovery of debts owed to the Asset Management Corporation of Nigeria presented its report to the Federal Government and is asking for severe execution of applicable regulations, including the AMCON Act, that guarantees that the headstrong debt holders can’t profit from government agreements and ventures besides with a reasonable level of investment leeway from AMCON.

Members of the Committee led by its Chairman, Prof. Bolaji Owasonoye, SAN, who is also the Chairman of the Independent Corrupt Practices Commission, expressed this while presenting its interval report to VP, Yemi Osinbajo, SAN, on Wednesday at the Presidential Villa.

As indicated by proclamation delivered by the Senior Special Adviser to the Vice-President on Media and Publicity, Laolu Akande, Prof. Osinbajo said the government would review it and act accordingly, observing that the issue of AMCON debtors doing further business with government agencies was a due diligence matter and there would have to be compliance with the requirements of the law.

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