=N=5trn AMCON Debts: Osinbajo Directs AMCON To Restrategise For Recovery

V. P. Yemi Osinbajo

New approaches should be adopted in the recovery of debts owed the Assets Management Corporation of Nigeria(AMCON), the Vice-President, Prof. Yemi Osinbajo, has directed.

Osinbajo’s spokeman, Mr. Laolu Akande, in a statement on Tuesday in Abuja said the directive was part of the Federal Government’s renewed effort to ensure the effective recovery of over five trillion naira being outstanding debts owed AMCON.

Osinbajo on Monday met with board members and management of AMCON and selected heads of government agencies, at the Presidential Villa following which a new committee was set up to carry out the assignment.

The agencies included Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), Independent Corrupt Practices Commission (ICPC) and the permanent secretaries of the Ministries of Justice and Transportation.

The vice-president said all the relevant agencies had to re-strategise to achieve the desired results.

Said Osinbajo: “The key is collaboration. We need a small team comprising these agencies to look at the next steps that we need to take, especially the criminal aspect, forfeiture, and all of that”.

He said that the task force should look at the top-20 AMCON defaulters closely and develop a plan of action that would bring results.

The vice-president in May met with AMCON management to discuss how to resolve the issue.

Banire noted that the agency had been trying its best to recover the debts through the civil judicial process but had encountered several challenges.

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