Prominent Nigerians frustrating N 4.4 trillion AMCON debt collection – Senator – Nairametrics

Wealthy Nigerians are failing the debt collection operations of the Asset Management Corporation of Nigeria (AMCON) valued at 4.4 trillion naira.

This statement was made by Senator Uba Sani, Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, during a stakeholder symposium on “Consolidating the effectiveness of the asset recovery model adopted by the AMCON ”held on Friday at Zuma Rock Resort Niger State.

He said 350 people were responsible for 83% of the debt AMCON is trying to collect.

What the senator said

Senator Sani said, “Of the 4.4 trillion naira that we are trying to recover, about 350 people in this country are responsible. This is about 83 percent of the debt.

“It’s very worrying. This means that powerful Nigerians are unwilling to pay these loans. They have used different strategies and tactics to delay repayment of billions of naira loans.

“A lot of Nigerians in high places are unwilling to support AMCON because most of these people are the ones who took this money from the banks and of course you know the government came to set up Amcon to protect the banks from the bankruptcy. fall.

“But unfortunately from what is happening AMCON finds it very difficult because these people are Nigerians in high places, they are trying to thwart AMCON’s efforts through justice and that is what we are looking for. . “

Sani assured the agency that his committee, along with other relevant Senate committees, would do everything in its power to help AMCON recover the 4.4 trillion naira owed to the company.

“Unfortunately, they face a lot of frustration. We will do our best for the benefit of our country and to protect the economy of this country and to help AMCON succeed ”, Sani said.

AMCON Chief Executive Officer Alhaji Ahmed Lawan, while congratulating President Muhammadu, said the company has so far recovered more than 1.4 trillion naira, of which; liquidity N665 billion, confiscation of property N278 billion, transferred assets N141 billion, confiscation of shares N139 billion and other strategic assets N207 billion.

Recall Nairametrics reported in October that The Assets Management Corporation of Nigeria (AMCON) revealed that it recovered the sum of N1,667,582,605.04 through the Economic and Financial Crimes Commission (EFCC) between 2017 and July 5. 2021.

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