Reps to probe AMCON’s N5.4tr debt portfolio

Reps to probe AMCON’s N5.4tr debt portfolio

By Levinus Nwabughiogu – Abuja

Members of the House of Representatives at Wednesday’s plenary resolved to investigate the debt portfolio of N5.4 trillion to Asset Management Corporation of Nigeria (AMCON) and the alleged unwillingness of some of the debtors to pay.

The House will also probe the insurance component of the debts, evaluate the status of the debts and the legal and other strategies to be deployed for the recovery of the debts.

The House mandated its Committees on Banking, Currency, and Insurance to carry out the investigation and recommend a time frame and other options such as amendment of the AMCON Act.

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Source: Reps to probe AMCON’s N5.4tr debt portfolio