AMCON Compiling List Of Debtors For Media Publication

In what appears like a dexterous warning, Asset Management Corporation of Nigeria (AMCON) has again hinted that it will go ahead to publish in widely read daily newspapers, a detailed list of all recalcitrant obligors. The government agency is also planning to include (where applicable) the list of directors of the defaulting firms, that have failed to reach or out rightly refused to reach settlement resolution with the corporation.

Managing Director and Chief Executive Officer of AMCON, Mr. Ahmed Kuru did not only disclose this at a recent interview he granted the News Agency of Nigeria (NAN), the AMCON last week precisely on June 28 and July 3, 2018, actually took vantage advert spaces in about six national dailies to publish the planned action.

The advert, which was also displayed on the website of AMCON reads; Notice to Debtors of Asset Management Corporation of Nigeria (AMCON); The Asset Management Corporation of Nigeria (AMCON) is saddled with the statutory responsibility amongst others of recovering the non-performing loan hitherto disbursed by eligible financial institutions (Banks) to their Customers.

Despite numerous overtures and appeals to AMCON Debtors to extinguish their indebtedness, AMCON is concerned that certain Debtors have willfully maintained recalcitrant postures while also adopting unscrupulous means of avoiding recovery. AMCON appeals and encourages meaningful dialogue towards the successful resolution of these indebtedness. Notwithstanding this gesture and particularly as AMCON enters a new phase of its recovery drive, AMCON shall not relent in pursuing vehemently the achievement of its recovery mandate against erring Debtors.

It is therefore in the interest of this class of Debtors to urgently take steps at reaching out to AMCON for an amicable resolution of their indebtedness. AMCON has decided to publish in widely read daily newspapers specific and detailed list of all erring debtors (and Directors where applicable) that have failed and or refused to reach settlement resolution with the Corporation. Signed: Management.

With this advertorial, the corporation stated that there would be no more room for negotiation with its debtors, noting that the corporation is set for a new stage. This new stage according to AMCON would involve complete take-over of the assets of its chronic debtors and eventual disposal of same.

This move, gathered was behind Kuru’s outburst at NAN where he disclosed that AMCON was still weighed down by a whopping N5.4 trillion debt owed the corporation, which he stated had lingered for too long and so deserves no other negotiation but outright enforcement since the debtors were bent on destroying Nigeria.

However, when we called Jude Nwauzor, Head Corporate Communications of AMCON on the proposed date of the publication, he would not disclose the date. He told our reporter that: “Since you have seen the notice, which we published in the dailies, the implication is that the public should expect the list any time soon. Once we are ready to hit the media space, you will be the first to know.”

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