Senate, AMCON move against VIP defaulters – TheNigerialawyer

The Chairman, Senate Committee on Banking, Insurance and other
Financial Institutions, Senator Uba Sani, on Friday said the
committee had resolved to join hands with the Asset Management
Corporation of Nigeria to push for the recovery of N5tn debt owed
by high-profile Nigerians.

The lawmaker, in a signed statement made available to
journalists on Friday, said the decision was part of the outcome of
the retreat organised by AMCON for the committee in Kaduna, the
Kaduna State capital.

He expressed concern over AMCON’s debt profile, noting that the
committee would collaborate with other agencies to ensure the
recovery of the debt from defaulters.

The lawmaker representing Kaduna Central at the Senate described
as troubling and unacceptable that after spending N4tn to take over
non-performing loans of banks, AMCON had only realised N800bn.

He also said part of the steps to be taken by the committee
towards a successful debt recovery was to engage with the
executive, judiciary and civil society to fashion out a workable
strategy for fast-tracking the process.

According to Sani, other steps to take include “inviting the
founding fathers of AMCON to rub minds with our committee on the
rationale for committing such incredible amount of resources to
debts incurred by Nigerians who have shown scant regard for the
majority of their countrymen and women and are not committed to the
growth and development of our economy.”