The Asset Management Corporation of Nigeria has unveiled a renewed strategy to intensify efforts towards recovering more than N4tn in outstanding debts owed by obligors across the country.
In a statement made available to our correspondent by the Head, Corporate Communications Department, AMCON, Jude Nwauzor, on Monday, the strategy will see AMCON deepen its collaboration with the Asset Management Partners, a scheme established in 2016 to aid in the recovery of non-performing loans in the banking sector.
The Executive Director in charge of Resolution at AMCON, Adeshola Lamidi, stressed the importance of strengthening the partnership between AMCON and the AMPs to achieve improved results.
“Our success depends greatly on you, our Asset Management Partners, through your dedication, innovation and professionalism. We must deepen collaboration, uphold ethical standards, and embrace strategic thinking in our recovery efforts,” Lamidi said.
He further explained that AMCON’s mandate includes stabilising the financial system by acquiring non-performing loans from banks to prevent systemic failures, as well as recovering those loans to maintain the health of the banking sector.
