The Chairman, Banking and Currency, House of Representatives Committee Chairman on Banking and Currency, Hon. Victor Nwokolo has assured Nigerians that the ninth National Assembly will take all necessary measures to support the Asset Management Corporation of Nigeria in realising the huge outstanding debt of over N5.4 trillion owed it by obligors before its sunset.
While commending the previous assembly, the management of AMCON under the leadership of Mr Ahmed Lawan Kuru, its Managing Director/Chief Executive Officer, and the executive arm of government for amending the AMCON Act, the chairman said the National Assembly would continue to amend the Act until the federal government achieves that target for which AMCON was created in the first place, which is to stabilise the financial sector.
He said enforcement has become critical given the tactics of the debtors, which has constrained AMCON from achieving optimum results especially since public funds were used to buy these loans that helped prevent systemic collapse of the banking sector in Nigeria at the time AMCON was created in 2010.
On what the corporation under his leadership was doing ahead of the sunset date of AMCON, a statement quoted Kuru to have explained:
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