The Independent Corrupt Practices and Other Related Offences Commission (ICPC), the Bureau of Public Procurement (BPP) has been directed to step up moves to recover over N5 trillion indebtedness to the Asset Management Corporation of Nigeria (AMCON).
The directive was issued to them by the Minister of Finance, Mrs. Zainab Shamsuna Ahmed at the weekend in Abuja, during the quarterly briefing of the Ministry of Finance, attended by agencies under the supervision of the ministry.
She commended AMCON on the national assignment, but said she expects a lot more from the corporation, more especially at this period when President Muhammadu Buhari has signed the amended 2019 AMCON Act into law, which gives additional powers to AMCON to deal with the obligors.
She said, “AMCON must ensure that the debts are recovered before the sunset, which is around the corner. If AMCON at sunset AMCON fails to recover the huge bad loans, the debt will become government problem, which the government is not willing to carry. Therefore, everything must be done to ensure that AMCON recovers the debt from the obligors because it will have a huge positive impact on the economy.”
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Further urging all the agencies under the ministry’s supervision to always remember the 11 priority areas of President Buhari’s administration in the discharge of their duties, the Minister said that the quarterly meeting had become critical because it creates the enabling platform for sister agencies of government to cross-fertilise ideas for improved collaboration and delivery.