Institutions and individuals on Asset Management Corporation of Nigeria’s debtors’ list are to be blacklisted. They will no longer be allowed to do business with the government henceforth, it was learnt at the weekend.
There are 105 debtors on the AMCON list. They include key players in aviation, power, real estate, oil and gas, as well as other sectors of the economy.Of the recovered funds, cash assets account for 60 per cent and non-cash assets, such as properties and equity securities, account for the balance of 40 per cent. Over the same period, AMCON’s repayment of its indebtedness to the CBN was over N1 trillion.
Osinbajo, who expressed satisfaction with the performance of the executive management of AMCON under Ahmed Kuru’s watch, promised that the government would support AMCON. Banire said AMCON’s visit was to congratulate President Muhammadu Buhari and Vice President on their victory at the polls. He highlighted some of the challenges faced by AMCON as a result of the attitudes of some debtors who behave as if they are above the law.
“The intervention in Skye Bank was caused majorly by internal abuse by the operators. As a result of that development, AMCON’s total debt obligation to the CBN is currently in excess of N6 trillion.