Vice President Yemi Osinbajo has received an Interim Report from an inter-agency committee set up on the recovery of debts owed to the Asset Management Corporation of Nigeria (AMCON).
Members of the Committee led by its Chairman, Bolaji Owasonoye, who is also the Chairman of the Independent Corrupt Practices Commission (ICPC) submitted the report to the VP at the Presidential Villa in Abuja.
Osinbajo said the government would review the report and act accordingly, observing that the issue of AMCON debtors doing further business with government agencies is a due diligence matter and there would have to be compliance with the requirements of the law.
Specifically, the Committee proposed an advisory to the Federal Government that going forward, “all AMCON debtors must not be allowed to transact business or enjoy patronage with any government agency whatsoever, except clearance is obtained from AMCON on the debt status of such obligors,” according to Owasonoye.
“Between 2020 and 2021, AMCON made significant recoveries which is highlighted in the report. Within the period under review, AMCON witnessed 10% growth in the recovery performance across various asset classes.
