Failure To Recover Over N4.4tn Debt Bad For Economy – AMCON

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The Asset Management Corporation of Nigeria (AMCON) has called on all agencies of the Federal Government and all stakeholders to join its debt recovery drive as the company hopes to secure an outstanding N4.4trillion.

AMCON in a statement issued on Sunday noted that a failure to recover the debt would further worsen the nation’s economy.

According to the agency, the N4.4trillion is bigger than the entire 2021 capital expenditure budget of the Federal Government, which stands at N3.85trillion.

If recovered, the agency believes that the money can go a long way in reviving the iron and steel sectors, as well as improving electricity in the country.

It also believes that this would involve the employment of more manpower which in turn would reduce the crime rate in the country.

“AMCON assured that it is determined to recover these debts because the money belongs to Nigerian taxpayers,” the statement read in part.

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