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BUSINESS/Focus
Typical of many government agencies, allegations of mismanagement and impropriety dogged the Assets Management Corporation of Nigeria’s previous management boards until the coming of President Muhammadu Buhari with his wide-reaching anti-corruption reforms. One of the earliest appointments he made was that of Ahmed Kuru as the Chief Executive Officer of AMCON. Almost six years after, and a few months into his second term, Kuru’s proficiency in fiscal management and boots-on-the-ground approach to debt recovery has helped in no little way to stabilise the Nigerian economy, writes Lanre Alfred
Unlike the middling marabou, the miracles of Malam Ahmed Kuru, the Managing Director/Chief Executive Officer of the Assets Management Corporation of Nigeria (AMCON), aren’t deceptive in nature rather; each one is an event that creates faith in his abilities as a fiscal guru and turn-around-manager. The AMCON boss is not just an administrative managing director but a seasone
By Stanley Nwanosike
Enugu, Jan. 28, 2021 The Asset Management Corporation of Nigeria (AMCON) says it is pushing hard to recover the N4.4 trillion debts owed the company in failed financial institutions it took over its liabilities.
Mr Jude Nwauzor, Head, Corporate Communications Department of AMCON, said this on Thursday in Enugu while briefing journalists on enforcement on an indebted person’s property in Enugu used as collateral in a failed bank loan.
Nwauzor said that if the company could recover the N4.4 trillion debts; the country would not have any need to borrow for infrastructural development.
“If we can recover the whooping N4.4 trillion within the time frame; we will not be borrowing for our infrastructural developmental needs,’’ he said.
The Asset Management Corporation of Nigeria (AMCON) has denied ordering the closure of Providence High School, Enugu, blaming overzealous persons for locking up the gates and allegedly assaulting a male staff of the boarding school.
AMCON’s Head of Corporate Communications, Jude Nwauzor, who spoke with journalists in Enugu, said the corporation would never make enforcement in schools, religious organisations and hospitals based on their peculiar nature, stressing: “Taking possession means showing presence and placing notices of the assets in writing.”
Criticisms had trailed reports of locking the gates of the boarding school with 344 female students by officials of the corporation who were on enforcement over alleged loan of N7.6b obtained with the school’s facilities by the original owner and others some years ago.
The Asset Management Corporation of Nigeria (AMCON) says it is pushing hard to recover the N4.4 trillion debts owed the company in failed financial institutions it took over its liabilities.
Mr Jude Nwauzor, Head, Corporate Communications Department of AMCON, said this on Thursday in Enugu while briefing journalists on enforcement on an indebted person’s property in Enugu used as collateral in a failed bank loan.
Nwauzor said that if the company could recover the N4.4 trillion debts; the country would not have any need to borrow for infrastructural development. x
“If we can recover the whooping N4.4 trillion within the time frame; we will not be borrowing for our infrastructural developmental needs,’’ he said.