Senate, AMCON to recover Debt

In News 2019-11-22 14:50:21
Senate, AMCON to recover Debt
Senate, AMCON to recover Debt

The Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani says the committee has resolved to support the Asset Management Corporation of Nigeria (AMCON) to push for the recovery of N5trn debts owed by high profile Nigerians.

 

Sani said the decision was part of the outcome of the retreat organized by AMCON for the committee, which was held in Kaduna.

 

He expressed concern over the debt profile of the AMCON, adding that the committee would liaise with other agencies to ensure the recovery of the debts.  

 

The lawmaker representing Kaduna Central at the Senate described as unacceptable the fact that AMCON could only boast of N800bn assets as of the moment, despite sinking trillions of naira into taking over non-performing loan assets of banks.