TVC E, BUSINESS – The Senate on Monday approved the strategies adopted by the Asset Management Corporation of Nigeria (AMCON) to recover over N5.4 trillion debts owed it by some firms and individuals.
Top officials of AMCON had in a closed door meeting with the Senate Committee on Banking, Insurance and other Financial Institutions in Abuja discussed ways and means of recovering the debt.
Members of the committee lamented the inability of AMCON to recover the debts, especially now that the country is passing through difficult economic times.
A member of the committee said AMCON was mandated to take stringent steps aimed at recovering the huge amount of money.
Managing Director of AMCON, Ahmed Kuru, who spoke to reporters after the meeting, said members of the committee were not only disturbed but ready to ensure that the N5.4 trillion is repaid.
He noted that the challenge AMCON is facing to recover the debts is enormous.
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