CSO Tasks AMCON Over Delay In Publishing Names of Debtors.

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Renew Nigeria, a non governmental and rights group has asked the Asset Management Corporation of Nigeria AMCON to publish names of obligors to Nigerian Banks after the expiration of January 5th , 2022 deadline.

The civil society organisation in a statement released by Jim Oweto on Sunday night challenges AMCON not to water down or rescind the planned to make public it’s debtors amounting to over N4.4 trillion.

Oweto said the delay weeks after the deadline given to Nigerian debtors to come forward for a repayment or payment plans will affect the confidence already reposed by Nigerians on the corporation.


The body promised to picket AMCON over the delay after the end of January deadline, and threatened court action against AMCON management for reneging on it’s earlier plans.

He warned AMCON over the delay to make public names of Nigerian debtors after the amedment and signing into law it’s act and the instructions by the National Assembly to make public debtors identities.

‘AMCON will be failing in it’s institutional responsibility it had uphold in the last six years and recovery drive towards returning Banks to solvency.’

‘We are not unaware that over 12,00O debtors to Banks in Nigeria since 2010 had been reduced to 7,000 by AMCON, even when the amedment that gave the corporation a leverage to take over and disposed assets of obligors through courts, then why the delay after the amedment by the National Assembly, assent by President Muhammadu Buhari.’

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‘How can 350 Nigerians and their conglomerates constituting just 83% hold the entire country to ransom to the tune over N4trillion at a time the country goes about borrowings both from local and international bodies.’

AMCON told Nigerians that over 1000 debtors had borrowed from Banks in the last ten years without concerted efforts at repayment, this is saddening and unfortunate, as government had already created an enabling environment and laws to the recovery of this huge sums.’

He advised AMCON that the delay is dangerous to the existence of Nigeria, it’s economy, social obligations to Nigerians at this critical period of economic crises and global health challenges across the globe.

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Oweto also challenged the anti graft agencies in Nigeria, the EFCC,ICPC to rally round AMCON as 2023 elections is around the corner, to ensure a solid arrangements towards AMCON’s recovery of public funds.

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