FG Set To Recover N5tr From AMCON Debtors


The Federal Government of Nigeria has inaugurated a special task force that will be unleashed behind individuals and companies who have defaulted in repaying their outstanding debt owed to the Asset Management Corporation of Nigeria (AMCON).


The vice President Yemi Osinbajo said this at the presidential villa, Abuja while conducting a meeting with board members and the Management of AMCON and some selected heads from government agencies.


The agencies present at the meeting include; Economic and Financial Crime Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices Commission (ICPC) and the permanent secretaries from the ministries of Transport and Justice.


In his statement, a special task force/committee comprising the heads from EFCC, ICPC, AMCON, NFIU and the ministry of justice have been tasked to come up with modalities that will effectively give the government the quick recovery plan of the said monies.


According to him, collaboration is the key; the agencies task should take it with utmost seriousness the next line of action to be taken, and especially the criminal aspect of it and forfeiture which shall be deployed on the affected persons/companies.


He opined that the Task Force should identify the first 20 defaulters on the list of AMCON and commence with them in chunking for a better result.


While contributing, Mr. Muiz Banire SAN, the AMCON chairman said, of the N5trillion naira being owed, 67% is in the hand of only 20 individuals/companies.


Banire disclosed that all effort targeted towards recovering the fund has always been greeted with numerous challenges.