Vice President of Nigeria, Prof. Yemi Osinbajo has disclosed that the federal government has set up a task force to monitor the top 20 debtors on the list of the Asset Management Corporation of Nigeria (AMCON).

This was revealed in a statement released by Laolu Akande, the vice president’s spokesman.

According to the statement, the federal government said it has renewed efforts to recover the N5 trillion debt owed by the debtors.


The agencies tasked to go after the debtors are Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices Commission (ICPC) and the permanent secretaries of the justice and transport ministries.

Osinbajo told all the agencies to re-strategize to achieve the desired results at a meeting in the Presidential Villa in Abuja.

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“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.

The Managing Director/Chief Executive Officer of the corporation, Ahmed Kuru had said earlier that some individuals occupying top government positions were among the chronic debtors of the corporation.

Related: AMCON set to expose ministers, lawmakers, others in N5tr chronic debtors list

Kuru, who described the non-payment of the much debt as shameful, further disclosed that AMCON is already working with other agencies such as the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices

AMCON chairman, Muiz Banire also disclosed that 67% of the N5 trillion debt is owed by the top 20 debtors.

Some of the stakeholders present at the meeting were Ibrahim Magu, the acting chairman of the EFCC; Bolaji Owasanoye ICPC chairman; Modibbo Tukur, NFIU director; Sabiu Zakari, permanent secretary at the ministry of transportation.