The Asset Management Corporation of Nigeria (AMCON) is planning to publish the names of 7,912 debtors owing it a total of N4.4tn, following the expiration of the 30-day ultimatum issued by the corporation on Wednesday (today) January 5, 2022. AMCON last year issued the ultimatum for debtors to regularise their debt status in response to the directive of the senate. In April 2021, the senate passed the AMCON amendment bill, which is meant to strengthen the agency in loan recovery, empower AMCON to amongst others, take possession, manage or sell all properties traced to debtors, whether or not such assets are used as security/collateral for obtaining the loan in particular. AMCON’s spokesperson, Jude Nwauzor stated that it has no choice but to obey the directive of the national assembly asking it to publish the names of debtors who have failed to repay their loans.
“AMCON has taken the decision to publish already. The decision has been taken already. It is a directive from the National Assembly,” he said.
“As a responsible corporate citizen, this was why we published an advertorial to warn all the entities concerned that their names will be published at the expiration of the ultimatum.”
“The one month grace period will be expiring on January 5, 2021.”
