Skip to main content

Osinbajo calls for new approach in recovery of N5trn AMCON debts

Osinbajo’s spokesman, Mr Laolu Akande, in a statement on Tuesday in Abuja said the directive was part of the Federal Government’s renewed effort to ensure the effective recovery of over five trillion naira being outstanding debts owed AMCON. 

The Vice-President, Prof. Yemi Osinbajo, has directed that new approaches be adopted in the recovery of debts owed the Assets Management Corporation of Nigeria(AMCON). 

Osinbajo’s spokesman, Mr Laolu Akande, in a statement on Tuesday in Abuja said the directive was part of the Federal Government’s renewed effort to ensure the effective recovery of over five trillion naira being outstanding debts owed AMCON. 

Osinbajo on Monday met with board members and management of AMCON and selected heads of government agencies, at the Presidential Villa following which a new committee was set up to carry out the assignment. 

The agencies included Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), Independent Corrupt Practices Commission (ICPC) and the permanent secretaries of the Ministries of Justice and Transportation. 

Osinbajo said a special task force/committee comprising the Heads of AMCON, EFCC), NFIU, ICPC and the Ministry of Justice, would be working to develop and implement new strategies that would ensure speedy recovery of the debts. 

The vice-president said all the relevant agencies had to re-strategise to achieve the desired results. 

“The key is collaboration. 

“We need a small team comprising these agencies to look at the next steps that we need to take, especially the criminal aspect, forfeiture, and all of that,” he said. 

He said that the task force should look at the top 20 AMCON defaulters closely and develop a plan of action that would bring results. 

The vice-president in May met with AMCON management to discuss how to resolve the issue. 

The AMCON Chairman, Mr Muiz Banire, said that almost 67 per cent of the outstanding debt was owed by 20 individuals/entities. 

Banire noted that the agency had been trying its best to recover the debts through the civil judicial process but had encountered several challenges. 

Present at the meeting was the Acting Chairman of EFCC, Mr Ibrahim Magu, the Chairman, ICPC, Prof. Bolaji Owasanoye; the Director/Chief Executive Officer of, NFIU, Mr Modibbo Tukur, the Permanent Secretary, Federal Ministry of Transportation, Mr Sabiu Zakari, and other senior government officials.

ridoola.blogspot.com.ng

Comments

Popular posts from this blog

Okpebholo suspends A-G & LG Chair under 3 months over finance dealings

The Edo Government has announced the suspension of Samson Osagie , its Attorney-General and Commissioner for Justice, and Damian Lawani , chairman of the Local Government Service Commission. Mr Musa Ikhilor , Secretary to the State Government (SSG) announced the suspension in a statement in Benin on Thursday morning. ALSO READ: Kano Govt suspend 2 school principals for alleged absenteeism, negligence Ikhilor said the two-state top officials were suspended over allegations of “grave official and financial interactions”. Okpebholo suspends Edo Attorney-General and LG Service Commission Chairman According to him, the suspension, which takes immediate effect, is pending the conclusion of an investigation into the allegations. The SSG said; It is hereby announced for the information of the general public that Gov. Monday Okpebholo has approved the suspension from office of the Chairman of Edo Local Government Service Commission, Damian Lawani and Commissioner for Justice, Samson Os...

Tinubu appoints MKO Abiola's son, Jamiu as SSA on Linguistics & Foreign Matters

President Bola Tinubu has appointed Jamiu Abiola as the Senior Special Assistant to the President on Linguistics and Foreign Matters. The appointee is one of the children of the late Chief Moshood Kolawole Abiola , the winner of the 1993 presidential election annulled by General Ibrahim Babangida . According to a statement by Segun Imohiosen , the Director of Information and Public Relations, Office of the Secretary to the Government of the Federation on Wednesday, November 27, 2024, Jamiu's appointment took effect from November 14, 2024. Imohiosen said the appointment aligns with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, etc) Act 2008, as amended. Until his recent deployment, the appointee served as the Special Assistant to the President of Special Duties in the office of the Vice President. Tinubu tasked Jamiu to work closely with the Federal Ministry of Foreign Affairs and bring his wealth of experience to bear in his new ...

Imaan: Nigeria’s 1st Female Police Affairs Minister & Iron Lady of Women’s Affairs

As a reform-minded technocrat and empathetic policymaker, she is a dynamic force, bringing hope, competence, and equity to every ministry she leads. Early life & Background Imaan was born on April 19, 1980, in Jos, Plateau State. Imaan Sulaiman-Ibrahim was raised in Abuja, rooted in a purposeful family, her father, S. K. Danladi , an engineer-developer, and her mother, Aishatu , a teacher. As the second of eight children, she grew up with early lessons in discipline and education. ALSO READ: Can a Doctor Save Education? Olatunji Alausa’s cure for Nigeria’s learning crisis Education Imaan received her early schooling at Aruwa Nursery and Jabi Primary, later attending Federal Government Girls’ College, Bwari. She graduated younger than most people from the University of Abuja, BSc in Sociology at 19, then two master’s degrees (MBA and MA in Management) from Webster University, London, by age 21. As of 2025, she is completing a Doctorate in Security & Strategic Studies at t...