Federal House of Representatives Committee Chairman on Banking and Currency, Victor Nwokolo, at the weekend in Lagos disclosed that the National Assembly would as a matter of urgency summon the leadership of the various key committees overseeing the different agencies of the Federal Government to investigate why the Inter-agency Committee on the recovery of the huge outstanding debt owed the Asset Management Corporation of Nigeria (AMCON) are not working as directed by the Presidency.
In September 2019, Vice President of Nigeria Prof. Yomi Osinbajo, had inaugurated an Inter-agency Committee to speedily resolve the challenges in recovering over N5 trillion AMCON debts. Osinbajo, who inaugurated the committee at the Presidential Villa, Abuja, had tasked its members to deploy their expertise in the assignment to ensure that AMCON meets its mandate within reasonable timeline.
Nwokolo who spoke at this year’s edition of the House of Representatives Committee on Banking, and Currency retreat with the Management of AMCON among other stakeholders at the Lagos Intercontinental Hotel in Victoria Island, said it was sad that agencies of the government are working at cross-purposes rather than collaborating to ensure that they support the federal government, and the economic recovery of Nigeria after coronavirus (COVID-19) pandemic had dealt a deadly blow on the economy of Nigeria and the global community. The retreat was themed, “Asset Recovery as a tool for Enhanced growth, and Stability of the Banking sectors sustaining the Impact and Bridging the challenges of AMCON.”
He said, “We cannot continue like this because we are answerable to the people of Nigeria and our constituencies as lawmakers. They will hold us accountable if we fail to take decisive actions that would help AMCON to recover these huge outstanding debts.”
Nwokole insisted that it does not sound pleasant to the ear that Vice President Osinbajo, had set up a committee that was supposed to force sister agencies of the government to collaborate and mount pressure on AMCON obligors within the ambit of the law to ensure that these debts are resolved.