124 Views

We Have Recovered N644 Billion – AMCON

Ahmed Kuru, Managing Director (MD) of the Asset Management Corporation of Nigeria (AMCON), says the corporation has succeeded in recovering N644 billion, according to the Cable.

Kuru disclosed this at a media briefing in Lagos, stating that the financial institution is on its way to achieving its objective of protecting the economy and retrieving acquired bad debts in the Nigerian financial system.

“We have so far collected cash of about N644 billion, and we have settle 56 percent of the total N3.7 trillion has also been settled. Settled doesn’t mean money in pocket,”
he said.

“Like I told you, the challenge is from within, the framework is a bit faulty. You cant say that you are taking somebody’s liability, and this person’s business has failed, totally failed in the commercial bank, and you are giving the commercial bank liquidity.”

He further disclosed that seeking court orders in retrieving debts and sealing up companies was necessitated by many years of non-compliance from its debtors.

“We always tell them that we are not quarreling with anybody. If I tell you that there is somebody who can put N10 billion on the table today, I’m lying. But I believe that there are people that can tell me how they intend to pay the 50 billion, the 100 billion, the 150 billion outstanding debts,” Kuru said.

“Some of these guys, you see the lifestyle (they live), the moment you tell them to come and pay our money, it become a problem. So we understand these things.

“They go to the press and I want to tell you that there is nothing personal. Some of them would write that they don’t owe. I cant wake up in the morning and say come and pay me N10 billion; there must be basis.

“If I believe that you are not owing me anything, and I go to court, and say court help me collect this money, there must really be something wrong with me.

“I can tell you that our recovery process is very vigorous, AMCON doesn’t wake up one fine morning and go to court. We must have given these people it for the last five to six years, but the last resort is the court; that means we must have exhausted all manner of mediation. Going to court is very expensive, and we also don’t like the bad publicity,” he added.

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

Wizkid’s First Son, Boluwatife Balogun Swags Up In News Photos
Entertainment
2 views
Entertainment
2 views

Wizkid’s First Son, Boluwatife Balogun Swags Up In News Photos

MT - January 19, 2018

When your father is Wizkid Ayo Balogun, then swag is expected! Shola Ogudu, Wizkid's first baby mama shared these lovely new photos of their son, Boluwatife. 

“Doctor Saves Life In Theatre, You Take Gifts To Pastors” – Daddy Freeze, Crazeclown
Entertainment
10 views
Entertainment
10 views

“Doctor Saves Life In Theatre, You Take Gifts To Pastors” – Daddy Freeze, Crazeclown

MT - January 19, 2018

Is It Right? Doctors Spent Hours To Save Your Life In Theatre, You Take Your Gifts To Pastors - Freeze Daddy Freeze don start again today oo,…

Actress Rukky Sanda Steps Out In Ripped Jeans And People Are Talking About It (Photos)
Entertainment
2 views
Entertainment
2 views

Actress Rukky Sanda Steps Out In Ripped Jeans And People Are Talking About It (Photos)

MT - January 19, 2018

The actress and single 33yr old has been off from the movie screen lately, but she seems to be doing just fine judging by her photos, It…

7 Foods That Will Boost Your Digestive Health
Food and Health
4 views
Food and Health
4 views

7 Foods That Will Boost Your Digestive Health

MT - January 19, 2018

Your digestive system affects the well-being of every cell in your bodies. A healthy digestion will contribute to boosted energy levels, beautiful skin and rejuvenating sleep. So,…

Seyi Shay Shares Her Early Morning Photos Without Makeup (Photos)
Entertainment
12 views
Entertainment
12 views

Seyi Shay Shares Her Early Morning Photos Without Makeup (Photos)

MT - January 19, 2018

Nigerian female artiste stage named seyi shay shares her make-up free picture. She is looking cool anyway. See photos below

House Of Rep Member, Aishatu Dukku Says Herdsmen Values Lives Of His Cattle More Than Their Life
Politics
8 views
Politics
8 views

House Of Rep Member, Aishatu Dukku Says Herdsmen Values Lives Of His Cattle More Than Their Life

MT - January 19, 2018

A video making the rounds on the internet has shown a member of the House of Representatives claiming the Fulani herdsmen values his cattle more than his…

Babymama Gang: Popular Video Vixen, Beverly Osu Announces Her Pregnancy By Flaunting Baby Bump On IG
Entertainment
16 views
Entertainment
16 views

Babymama Gang: Popular Video Vixen, Beverly Osu Announces Her Pregnancy By Flaunting Baby Bump On IG

MT - January 19, 2018

It seems beautiful video vixen has join the list of baby mamas as she happily flaunt her baby bump on her instagram page, although the father of…

How A Young Nigerian Businessman Slumped And Died Hours After Mourning The Death Of His Friend
Shocking
11 views
Shocking
11 views

How A Young Nigerian Businessman Slumped And Died Hours After Mourning The Death Of His Friend

MT - January 19, 2018

A young Nigerian man based in the United States has just been reported dead after he was reported to have slumped and died just hours after losing…

DJ Cuppy Got More Than She Bargain For When She Tweeted About Recording A New Song
Entertainment
15 views
Entertainment
15 views

DJ Cuppy Got More Than She Bargain For When She Tweeted About Recording A New Song

MT - January 19, 2018

Nigerians on twitter are all sorts of savage and hilarious. After Dj Cuppy tweeted, Quote 'My throat is killing me, and I’m meant to be recording my…

Here Is How Rivers Indigenes Protested Against SARS Operation In The State (Photos)
Shocking
16 views
Shocking
16 views

Here Is How Rivers Indigenes Protested Against SARS Operation In The State (Photos)

MT - January 19, 2018

Residents of Rivers state today staged a protest calling for the disbandment of SARS operations in the state. The residents accuse officials of the State Anti-Robbery Squad…

Checkout New Photos Of Former Miss Anambra “Cucumber”, Chidinma Okeke (Photos)
Entertainment
22 views
Entertainment
22 views

Checkout New Photos Of Former Miss Anambra “Cucumber”, Chidinma Okeke (Photos)

MT - January 19, 2018

Never you be a victim of your own circumstance … The “future is now” The former beauty queen dropped one of the pictures and wrote: Quote “Go confidently…

Why Chelsea FC Could Be Banned For Two Transfer Windows By FIFA
Sports
19 views
Sports
19 views

Why Chelsea FC Could Be Banned For Two Transfer Windows By FIFA

MT - January 19, 2018

English Premier League Champions, Chelsea FC could be banned for two transfer windows as FIFA investigate the club for irregular signings, according to The Guardian. The club…

Fulani Killings: Why The Benue Crisis May Get Out Of Control – Sultan Of Sokoto Warns
Shocking
23 views
Shocking
23 views

Fulani Killings: Why The Benue Crisis May Get Out Of Control – Sultan Of Sokoto Warns

MT - January 19, 2018

Saad Abubakar, the Sultan of Sokoto, has queried the competence of the security agencies and their inability to stop the attacks and killings by herdsmen in Benue State.…

My Side Chick And My Personal Ashewo – IK Ogbonna Writes Sweet Message To His Wife On Her Birthday
Entertainment
26 views
Entertainment
26 views

My Side Chick And My Personal Ashewo – IK Ogbonna Writes Sweet Message To His Wife On Her Birthday

MT - January 19, 2018

Nollywood superstar actor, Ik Ogbonna has celebrated his wife in a unique manner by chosing to call her his side chick and ashewo in a post he…

This Plus Size Man and Fiance Spice Up Their Pre Wedding Photos With Raunchy Display
Romance and Love
19 views
Romance and Love
19 views

This Plus Size Man and Fiance Spice Up Their Pre Wedding Photos With Raunchy Display

MT - January 19, 2018

This fun-loving couple have got themselves trending online after sharing their lovely pre-wedding photos. The pair identified as Prince Biggs and Sugar Girl decided to spice up…

Meet Nigeria’s First Female Combatant Pilots In History Since 1960 Independence (Photos)
Best of Nigeria
28 views
Best of Nigeria
28 views

Meet Nigeria’s First Female Combatant Pilots In History Since 1960 Independence (Photos)

MT - January 19, 2018

The Nigerian Air Force (NAF) has disclosed on Wednesday, January 17, 2017, during commissioning of 11 young pilots that the two female combatants among the pilots are…

Meet The Governorship Aspirant “Melting The Hearts” Of Online Users (Photos)
Politics
24 views
Politics
24 views

Meet The Governorship Aspirant “Melting The Hearts” Of Online Users (Photos)

MT - January 19, 2018

The 2019 general elections will be apparently be great. A governorship aspirant, comrade Sani Garba Gusau has become an online sensation after melting hearts of online users…

Super Falcon Star, Asisat Also Stops By At Peter Okoye’s Mansion In Lagos After Visiting Paul Okoye
Entertainment
30 views
Entertainment
30 views

Super Falcon Star, Asisat Also Stops By At Peter Okoye’s Mansion In Lagos After Visiting Paul Okoye

MT - January 19, 2018

Earlier today, Super Falcon star and female African Player of the Year, Asisat Oshoala alongside Onome Ebi paid a visit to Paul Okoye aka Rude Boy at…

Loading...