The Assets Management Corporation of Nigeria (AMCON) has said it got N1,667,582,605.04 recovered by the Economic and Financial Crimes Commission (EFCC) between 2017 and July 5, 2021. The corporation said the money represented loan repayments recovered which were credited to its Central Bank of Nigeria (CBN) account for the settlement of bond obligations.
This was contained in a letter presented to the House of Representatives Ad Hoc Committee on Assessment and Status of All Recovered Loots during an investigative hearing yesterday in Abuja. The letter was signed by AMCON Managing Director Ahmed Lawan Kuru and Group Head of Enforcement, Joshua Ikioda.
Giving a synopsis of the payment, AMCON explained that remittances to the corporation in 2017 amounted to N1,178,764,500 for the credit of nine debtors. For recoveries made in 2019, the corporation said it received N356,318,105.08 on September 21, 2020, on account of seven debtors. AMCON also said it received a letter, dated December 17, 2019, from the EFCC forwarding promissory notes on account of four debtors to the tune of N1,194,778,813. The corporation said the notes were returned to the EFCC through a letter, dated October 28, 2019, as they were made out by the Debt Management Office.
The letter showed that the schedule forwarded to the corporation by the committee indicated remittances by EFCC on N87,495,087.50 in 2020. But the agency said it had not received the quoted amount as it might be collections yet to be released to the corporation.
Also at the hearing, the Nigeria National Petroleum Corporation (NNPC) said it was working to recover debts from some banks for the Nigerian Liquefied Natural Gas (NLNG) dividend funds.
The committee, led by Adeogun Adejoro, also directed that the NNPC should submit all its accounts by its next sitting next Tuesday. Adejoro said all debts owed the government must be vigorously pursued as money is needed to fund the 2022 budget.
Culled from The Nation.