The Managing Director/Chief Executive
Officer of the Asset Management Corporation of Nigeria (AMCON), Mr.
Ahmed Kuru monday told members of the House of Representatives Committee
on Banking and Currency that he was disturbed by the growing rascality
among obligors of the corporation.
This, he said makes it compelling for AMCON to perpetually depend on the judiciary for meaningful recoveries.
He said this at a 3-day retreat by the
lawmakers in Sokoto themed: “Capacity building for Members of the
Committee on the Emerging issues in the financial sector and Banking
Industry, Taking into consideration the current development in the
country as it relates to AMCON efforts in loan recovery.”
A statement monday quoted the AMCON boss
to have also said the corporation was dealing with obligors that have
the financial capacity to engage AMCON from court to court in their plot
to evade repayment and thereby sabotaging the effort of the federal
government to resuscitate the economy.
Kuru said there was need for all the
relevant government agencies to rally round AMCON because the failure of
AMCON would mean that the gains Nigeria recorded in 2010/2011 when
AMCON was created would be lost.
On his part, the Chairman of the House
Committee, Hon. Jones Onyereri said there was need for all institutions
that want to see Nigeria get out of the current economic situation in
the country to support the effort of AMCON to resolve the huge debt it
carries insisting that its resolution was capable of rebounding the
economy.
Welcoming his colleagues and the management of AMCON to the retreat in Sokoto, Onyereri said the gathering was timely.
“The problem we are currently facing are
not just monetary policy issues; they are equally fiscal policy issues.
Therefore, there is need to be a convergence of both and the
establishment of the Financial Services Commission that will create an
avenue where both of them can work together to get us out of our present
situation,” the chairman said.
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