In another deft strategy to intensify its debt recovery drive in the country, the Asset Management Corporation of Nigeria (AMCON) has submitted a list containing its top 1,000 obligors to the National Assembly. AMCON CEO/Managing Director, Ahmed Lawan Kuru, handed the list over just few hours after President Muhammadu Buhari also signed into law the Asset Management Corporation of Nigeria (Amendment) Act, amending the AMCON Act No.4, 2010. He said the harsh economic realities caused by COVID-19 meant that the recovery assignment AMCON is doing for the country has been further compounded, which is why the National Assembly is looking at ways of further supporting the recovery drive of AMCON. Earlier while presenting the list, the AMCON boss said “to enable AMCON succeed in its national call to duty, AMCON solicits the continued support of this Distinguished Committee. With the support of the National Assembly and the Judiciary, Kuru argued that recovering the total current exposure on all EBAs, which stands at N4.4 trillion may be possible before the sunset period.

Source: Nigerian Tribune November 19, 2021 16:43 UTC