From Uche Usim, Abuja
The Managing Director of the Asset Management Corporation of Nigeria (AMCON), Mr Ahmed Kuru, has described Asset Management Partners (AMPs), launched five years ago as key to the recovery of its outstanding N5 trillion debt.
He made the disclosure at the weekend at a two-day training for AMPs of AMCON.
According to him, the AMPs scheme of AMCON currently has about 6,000 Eligible Bank Assets (EBAs) at different stages of resolution and about 3,000 matters at various courts across the country. Through the AMPs, the AMCON boss said it was essential each of the cases are properly captured as they progress in the courts.
AMCON, he stressed, is chasing to recover over N5 trillion from obligors that have remained unwilling to repay their debt. Of this humongous figure, the government agency informed Nigerians that only 350 obligors alone account for a whopping N3.6trillion, or over 82 percent of the outstanding exposure, which if recovered 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.
The AMCON boss noted that with all these facts and its negative effect to the economy of Nigeria, the AMP concept, which is playing a pivotal role in the recovery exercise must scale up their efforts because it would not be fair to allow this crop of obligors that have collectively destroyed the commonwealth of Nigerians escape justice. He said it was against this backdrop that AMCON was continuing to interact and cross-fertilise ideas and provide them with necessary assistance they require to excel as recovery agents.