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Debt recovery: NASS to vest more powers on AMCON

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By Babajide Komolafe

Chairman, House of Representatives Committee on Banking and Currency, Sir Jones Onyereri, has said the House was currently working at amending the Act establishing Asset Management Corporation of Nigeria, AMCON.


He said the proposed amendment would further empower and embolden AMCON to go after its debtors, especially those who hitherto thought they could ride on some loopholes in the Act to perpetually engage AMCON in court.

Onyereri disclosed this at a one-day technical session with stakeholders, such as Central Bank of Nigeria, CBN; Nigeria Insurance Deposit Corporation, NDIC, and members of the House Committee on Banking and Currency; AMCON management, among others, in Abuja, weekend.

The session offered a platform challenges inhibiting AMCON from recovering debt were extensively discussed.

The committee also used the occasion to listen to presentations from representatives of the CBN, NDIC and legal luminaries, among others, on how AMCON could function optimally as well as meet its mandate before sunset.


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