The Federal Government has commenced moves to recover the N5 trillion debts owed the Asset Management Corporation of Nigeria (AMCON) by various individuals and corporate bodies.
This was disclosed in a statement by the Senior Special Assistant on Media and Publicity to the Vice President, Laolu Akande, on Tuesday.
To that effect, Vice President Yemi Osinbajo, on Tuesday, inaugurated an inter-agency committee to implement the moves.
The statement said that members of the committee include heads and representatives of agencies such as AMCON; the Economic and Financial Crimes Commission [EFCC], Nigerian Financial Intelligence Unit [NFIU], the Independent Corrupt Practices and Other Related Offenses Commission [ICPC], Central Bank of Nigeria [CBN], Nigeria Deposit Insurance Corporation [NDIC] and the Federal Ministry of Justice.
“One of the terms of reference is for the committee to prepare a report, giving us a sense of what the timelines will be” Osinbajo was quoted to have said.
The statement added that “about 67 per cent of the outstanding N5 trillion debt is said to be owed by just 20 individuals/entities.”