“AMCON Recovers N1.6 Trillion Debt”

In a recent update, Ahmed Kuru, the managing director of the Asset Management Corporation of Nigeria (AMCON), revealed that the corporation has successfully recovered about N1.6 trillion in debt, including cash and asset sales. Speaking at a training event for federal high court judges in London, Kuru expressed gratitude for the support of the judiciary in enforcing recoveries.

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He emphasized the challenges AMCON faces with recalcitrant debtors who attempt to conceal assets through third-party ownership claims. Kuru stressed the importance of continued collaboration to achieve the corporation’s national assignment, considering the significant outstanding debt that poses a threat to Nigeria’s economy.