AMCON recovers N1.4tn, says 350 chronic debtors owe N2.05tn


Nigeria has recovered N1.48tn out of N4.158tn owed by bank debtors.

This was disclosed by the Managing Director of the Assets Management Corporation of Nigeria, Ahmed Kuru, on Monday.

He explained that due to debt recovery challenges the corporation was facing, it still had 7,902 outstanding obligors with total outstanding loan of above N3.1tn,

The statement tilted ‘Amcon Debt: Senate pushing for additional cooperation from CBN, NDIC.”  read partly, “The Managing Director/CEO of AMCON Mr Ahmed Kuru, told the committee that AMCON was strongly battling with its debt recovery activities.”

He noted that the 350 obligors alone accounted for over N2.05tn, which constitutes more than 70 per cent of total outstanding amount.

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