Investment Protection: ICPC, AMCON Set To Recover Assets Worth N4.9 Trillion


The Independent Corrupt Practices and Other Related Offences Commission (ICPC), and the Asset Management Corporation of Nigeria (AMCON), today have set to partner on recovering assets worth trillions of Naira from corporate bodies owing the Nigerian government.


Rashidat Okoduwa, the spokesperson of the ICPC made this known during a courtesy visit by AMCON Management to ICPC Headquarters in Abuja.


Speaking during the visit, Dr. Muiz Banire, the AMCON Chairman disclosed that debts worth of N4.9trillion were being owed by various entities to government. As such, they were in the Commission to seek their collaboration on how to recover such moneys of the government and rescue the government from the impending disaster.


According to Banire, out of the 12,000 accounts in possession of AMCON, about 80% of the debts are owed by only 350 entities, by extension, about 80% of the 4.9 trillion government money/assets, only 350 entities in Nigerians owe it.


Banire added that AMCON was faced with the task of the recovery of government assets, but noted that partnership with ICPC would be of great help considering the challenges often being faced during recovery.


Meanwhile, Okoduwa revealed, ICPC Chairman, Professor Bolaji Owasanoye, has pledged that the Commission’s commitment to partnering with AMCON to achieve its mandate of assets recovery which incidentally was also an important part of ICPC’s work will go a long way.