By the Act of its establishment, the Asset Management Corporation of Nigeria is to recover bad debts owed by institutions – private or public – on behalf of the Federal Government. By the end of February, the debt profile was said to be in excess of N5.4 trillion.
What are some of the provisions of the Act that established AMCON and would you say you have followed its provisions to the letter? What we are saying in essence is that we will not continue with the initial recovery strategy that has been in place since AMCON was created because it is no longer yielding the desired recovery results. For us, it does not make any sense anymore. At the earlier stage, an obligor can tell us stories because we had many years ahead to hear those sorts of stories.
Source: Loan Digest (loandigest.net)
Hi
Lollylarry1 your friend benmurraybruce will not like this 😂🤣😂🤣😂😂😂
I wonder what benmurraybruce thinks about this plan to impoverish the rich that can't run businesses for profit, but argue they have created employment for people. Do we institute a system that allows smart & profit making businesses have access to capital, or common sensers?
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