In to recover outstanding debts of nearly N5trillion, the Asset Management Corporation of Nigeria (AMCON) has announced plans to engage international asset tracers to locate and recover assets hidden by recalcitrant debtors offshore including those masqueraded under Special Purpose Vehicles (SPVs).
This decision was revealed by the Managing Director/Chief Executive Officer, Gbenga Alade, during a meeting with senior members of the print and online media in Lagos on Monday.
Alade stated that since the new management took over about five months ago, they have successfully collected approximately N100 billion from several high-profile debtors and revised the sale of some assets.
He emphasized that the organization has been receiving strong support from President Bola Ahmed Tinubu, the Central Bank Governor, the Federal Ministry of Finance, the Attorney General of the Federation, and the National Assembly in their efforts to recover debts transferred by banks to AMCON during the different phases of Eligible Bank Asset (EBA) acquisition.
Furthermore, the CEO mentioned that the Chairman of the House Committee on Finance has pledged to name and shame obligors who have yet to repay their debts at a major stakeholders’ conference that would hold before the end of the year.
