THE Asset Management Corporation of Nigeria (AMCON) has submitted a list of its top 1,000 obligors to the National Assembly, in the latest effort by the organiSation to recover debts owed it.
The names were submitted to the House of Representatives Committee on Banking and Currency at the just concluded retreat of the committee in Lagos.
This came moments after President Muhammadu Buhari signed into law the Asset Management Corporation of Nigeria (Amendment) Act.
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, which 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.’’
House of Representatives Committee on Banking and Currency Chairman Victor Nwokolo, who received the list from AMCON Managing Director/Chief Executive Officer, Ahmed Lawan Kuru, said the committee called for the names to enable the National Assembly know those holding the country to ransom, and devise ways of recovering the debts.
