Kuru, while speaking with AMCON External Solicitors, and Receivers as well as Asset Management Partners (AMPs) at the weekend in Lagos, said the call has become important as AMCON which is not set up to operate in perpetuity has a sunset period, thus the need to apply speed in the collective recovery assignment.
The AMCON CEO who was represented by the group head, Asset Management Directorate in the Corporation, Benedict Daminabo, said if at sunset AMCON is unable to recover the huge debt, which currently stands at over N4trillion, it becomes the debt of the Federal Government of Nigeria, which he said would have huge implication on the taxpayers’ monies.
As a result, he said the positive debt recovery history of AMCON cannot be fully told by chroniclers of financial and economic history in Nigeria without some critical stakeholders such as AMCON Solicitors and indeed the entire Nigeria judiciary as well as Receivers; and the Asset Management Partners (AMPs) that have become major tools in the recovery efforts of AMCON. He described the engagement, which is AMCON’s first major interaction with stakeholders in 2023 in Lagos as very important, and strategic to the recovery efforts of AMCON.
