In another deft strategy to intensify its debt recovery drive in the country, the Asset Management Corporation of Nigeria (AMCON) has submitted a list containing its top 1,000 obligors to the National Assembly.
AMCON made the revelation to members of the House of Representatives Committee on Banking and Currency at the just concluded retreat of the committee in Lagos.
AMCON handed the list over to the lawmakers just few hours after President Muhammadu Buhari signed into law the Asset Management Corporation of Nigeria (Amendment) Act, amending the AMCON Act No.4, 2010.
The AMCON Act provides for the extension of the tenor of the Resolution Cost Fund (RCF) and grants access to the Special Tribunal established by the Banks and other Financial Institutions Act 2020.
This confers on AMCON the power to among others, “to take possession, manage, foreclose or sell, transfer, assign or otherwise deal with the asset or property used as security for Eligible Bank Assets (EBAs), and related matters.”
The Chairman of the House of Representatives Committee on Banking and Currency, Victor Nwokolo representing Ika Northeast/Ika South Constituency in the 9th National Assembly received the list of recalcitrant AMCON obligors from the Managing Director/Chief Executive Officer of the Corporation, Mr Ahmed Kuru.
He said the Committee called for the list so that the National Assembly would know those that are holding the country to ransom to enable them meet with relevant agencies of the Federal Government.
He said the meeting with agencies of government will further enable them to strategize on how to further deal with the debtors to ensure that AMCON realised its mandate in the overall interest of the Nigeria economy.
Nwokolo who commended the commitment of the Kuru-led agency said that AMCON has been operating under very difficult condition since its establishment.
He said the operation of AMCON has been made worse by the outbreak of the coronavirus pandemic, which practically shut down the economy.
source: the whistler ng
