AMCON, EFCC Collaborate To Recover N4.6trn Bank Debts

In a renewed strategy to recover a whopping total debt obligation of over N4.6 trillion owed Asset Management Corporation of Nigeria (AMCON) by recalcitrant debtors across the country, AMCON yesterday met with the Economic and Financial Crimes Commission (EFCC).
The purpose of the meeting, LEADERSHIP Friday gathered, was for both agencies to consolidate on the gains of their relationship, especially as it borders on investigating, prosecuting and compelling all obligors of AMCON in accordance with the relevant statutes.The meeting between the two government agencies led by AMCON managing director/chief executive officer, Mr. Ahmed Kuru and EFCC’s acting chairman, Mr. Ibrahim Magu resolved to take another look at some banks and their officials that were instrumental to the abuse and violation of internal processes that led to the huge non-performing loans in AMCON’s portfolio.

The agencies are planning to revisit, reinvestigate and duly prosecute such banks and the officials involved.

The EFCC acting chairman who welcomed the AMCON boss and his team described the assignments of both agencies of government as “very tough, overwhelming and challenging”.
Magu, however, said he was happy that AMCON under Kuru is doing everything within its mandate to confront the obligors with all the risks involved in the process of doing so.
He said it was for this reason that EFCC established AMCON desk with dedicated EFCC officials who

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