Don’t allow debtors escape with our commonwealth, AMCON appeals to stakeholders

Ayo AdemolaApril 29, 2023

1 minute read

Mr Benedict Daminabo, Group Head, Asset Management who represented the Managing Director/CEO of Asset Management Corporation of Nigeria (AMCON) Mr Ahmed Kuru (middle) flanked by Mrs Rukevwe Smatt-Oni, Head, Asset Management Partners (AMPs) Enforcement (left) and Mrs Ibironke Ifederu, who represented the Group Head of Enforcement, Mr Joshua Ikioda at the events…in Lagos at the weekend

For the umpteenth time, the Managing Director/CEO, Asset Management Corporation of Nigeria (AMCON) Mr Ahmed Kuru has reminded stakeholders to view the AMCON recovery as an important national mandate

Kuru made the call at the weekend in two separate engagements with AMCON External Solicitors, and Receivers as well as Asset Management Partners (AMPs) in Lagos.

He said the call has again become important because AMCON is not set up to operate in perpetuity as the Corporation has a sunset period thus the need to apply speed in the collective recovery assignment.

The AMCON CEO who was represented at the interactive sessions by Mr Benedict Daminabo, the Group Head, Asset Management Directorate in the Corporation, said if at sunset AMCON is unable to recover the huge debt, which currently stands at over N4trillion, it becomes the debt of the Federal Government, which he said would have huge implication on taxpayers’ monies.

He described the engagement, which is AMCON’s first major interaction with stakeholders in 2023 in Lagos as very important, and strategic to the recovery efforts of AMCON.