Asset Management Corporation of Nigeria, AMCON, has expressed concern over failure of its debt recovery efforts.
Consequently, the corporation is seeking the support of the Senate to review its enabling Act for the purpose of enhancing its debt recovery efforts.
Managing Director/Chief Executive Officer of AMCON, Mr. Ahmed Kuru, disclosed this in Uyo, Akwa Ibom State at a 3-day retreat by the Senate Committee on Banking, Insurance and other Financial Institutions to deliberate on the best approaches to be adopted to help the challenged Nigerian economy.
Kuru, who attended the retreat with the AMCON executive directors and other senior officials of the corporation, while describing AMCON as a child of necessity in the development of Nigeria’s financial system, however, told the committee that AMCON seriously needed to enlist the support of other critical stakeholders at the highest levels to cover significant ground in the recovery mandate. Read more