AMCON was making efforts to recover over N5tn from obligors that had remained unwilling to repay their debt
The Asset Management Corporation of Nigeria is currently pursuing bad debts of about 3,000 debtors in various courts across the country.
The corporation disclosed this on Sunday in a statement titled ‘Recovery for N5tn debt burden, AMP scheme pivotal – AMCON CEO’, after a two-day training for Asset Management Partners of AMCON in Lagos.
“The AMPs scheme of the government agency currently has about 6,000 Eligible Bank Assets at different stages of resolution and about 3,000 matters at various courts in the country,” AMCON said.
It stated further that through the AMPs, it was essential that each of the cases was properly captured as they progressed in the courts.
The Managing Director/Chief Executive Officer, AMCON, Mr Ahmed Kuru, said five years after AMCON launched the AMP scheme, the initiative had been a major tool in the recovery efforts of the corporation and key to its success.
The statement recalled that AMCON was making efforts to recover over N5tn from obligors that had remained unwilling to repay their debt.
If recovered, it said, it would be enough for the Federal Government to actualise a good number of projects such as roads, railways, electricity generation and distribution, hospitals, and the like across the country.
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