AMCON Heightens Strikes To Recuperate Over N4trn Debt

The Managing Director/CEO, Asset Administration Company of Nigeria (AMCON), Mr Ahmed Lawan Kuru, stated the company is taking extra steps to recuperate the over N4 trillion authorities money owed from non-public people.

Kuru said this on the weekend when he individually engaged with AMCON Exterior Solicitors and Receivers in addition to Asset Administration Companions (AMPs) in Lagos.

The AMCON CEO who was represented on the interactive periods by the Group Head, Asset Administration Directorate, Mr Benedict Daminabo, stated AMCON has already begun measures for its winding up, noting that the debt have to be recovered earlier than then.

He stated: “Contemplating that the company has begun to place measures in place for eventual wind down of its actions as it isn’t created to stay in perpetuity, if at sundown AMCON is unable to recuperate the large debt of over N4 trillion, it turns into the debt of the Federal Authorities of Nigeria for which taxpayers’ monies might be used to settle.

“The implication is that the general public might be made to pay for the recklessness of just a few people who proceed to reap the benefits of the loopholes in our legal guidelines to flee their ethical, and authorized obligations to repay their money owed. We should always not permit a couple of people to flee with our frequent wealth. And we need to do it throughout the confines of the legislation,” he stated.

Kuru stated AMCON had disengaged some receivers and exterior solicitors as a consequence of non-performance in addition to AMPs who usually are not performing optimally whereas expressing concern over the frequency of adjournment of its issues as a consequence of a number of non-appearance of its legal professionals.