Connect with us

News

EFCC recovers N1.66tr for AMCON

Published

on

The Economic and Financial Crimes Commission (EFCC) has recovered N1.667 trillion for the Asset Management Corporation (AMCON) between 2017 and July this year.

The agency disclosed this in a letter presented to the House of Representatives Ad-Hoc Committee on Assessment and Status of All Recovered Loots during an investigative hearing on Tuesday in Abuja.

The letter was signed by the AMCON Managing Director, Ahmed Lawan Kuru, and Group Head of Enforcement, Joshua Ikioda.

READ ALSO: EFCC gives condition to help AMCON recover debts

The agency revealed that the amount represented loan recovered from debtors and credited to its account with the Central Bank of Nigeria (CBN) for settlement of bond obligations.

AMCON revealed that it received N1, 178,764, 500 as remittances for nine debtors in 2017.

For 2019, the agency received N356, 318, 105.08 on September 21, 2020, for seven debtors.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now