Senate set to give more powers to AMCON on debt recovery

The Nigerian Senate is set to come up with new strategies, that will empower and embolden the Asset Management Corporation of Nigeria (AMCON),in dealing with debtors.

To this end, the Chairman of Senate Committee on Banking, Insurance and other Financial Institutions, Senator Rafiu Ibrahim, on Thursday, in Uyo hinted that the time would soon run out on recalcitrant obligors of AMCON, given the renewed commitment of the Senate to build strategic collaborations that would develop greater capacity for debt recovery and sustained development in the country.

Members of the Senate Committee on Banking, Insurance and other Financial Institutions are in Uyo, the Akwa Ibom State capital for a three-day retreat to deliberate on the best approaches to be adopted to help the challenged Nigerian economy. The theme of the retreat is: “Economic Rebuilding through Eligible Assets Recovery.” In attendance are the management of AMCON led by Ahmed Kuru, Managing Director/Chief Executive officer of AMCON among other stakeholders.

“This retreat for the Senate Committee on Banking, Insurance and other Financial Institutions is in keeping with our commitment to build strategic collaborations in order to develop greater capacity for sustained development. It is my hope that we will fully achieve the objectives of this retreat thereby strengthening the relationship between AMCON, this committee and indeed the entire hallowed upper legislative chamber.