Reps To AMCON: Go After Debtors Regardless Of Social Status

The chairman, House of Representatives Committee on Banking & Ancillary Institutions, Eze Nwachukwu Eze has charged the Assets Management Corporation of Nigeria (AMCON to be brutish in its debt recovery irrespective of the status of the debtors.

Eze whilst all agencies of the federal government to join the debt recovery drive said the recovery of such humongous amount of nearly N5 trillion owed AMCON by a few obligors will increase the revenue of President Bola Ahmed Tinubu’s government, and enable the government to deliver the renewed hope promised Nigerians.

He noted that the Gbenga Alade-led AMCON must be more brutish in the recovery strategy, which should not allow a few obligors get away with the commonwealth of all Nigerians and not to be deterred by the personality or position of any obligor when enforcing on their assets.

The lawmaker added, “The new AMCON management has to face the reality of debt recovery, which is not easy, and must not consider the social status of obligors in carrying out enforcement actions. In fact, even if you find my name on the list of AMCON obligors, please come after me. The success of AMCON’s mandate is not the responsibility of one institution alone; it requires the concerted efforts of all stakeholders. This includes the government, financial institutions, the regulatory bodies, security agencies, and indeed the private sector.

“We recognise that the economic landscape is evolving rapidly. Global and domestic challenges require us to reassess our strategies and adapt to new realities. Retreats such as this presents us with another opportunity to reflect on AMCON’s journey so far, to identify areas where we can enhance its capacity, and to align our efforts towards ensuring that the Corporation continues to be a key player in our nation’s economic stability.”

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Noting that the task of managing distressed assets is complex, requiring robust policies, innovative approaches, and unwavering legislative backing, Eze said there is need for strategic adjustments that will enable AMCON to be more proactive, agile, and effective in its interventions.

“In this regard, the Committee on Banking and Other Ancillary Institutions is committed to working closely with AMCON and other stakeholders to ensure that our policy framework supports the Corporation’s objectives. We must also consider the broader economic implications of these policies, ensuring that they contribute to sustainable growth and development. As lawmakers, it is our responsibility to provide the legal infrastructure that enables AMCON to fulfil its mandate effectively.

This includes reviewing existing laws, proposing new legislative measures, and ensuring that AMCON has the necessary tools to navigate the complexities of asset management.”