Fear grips billionaire debtors as FG inaugurates panel to recover N5tn AMCON debts

An Inter-Agency Committee to recover the N5trn debts owed the Asset Management Corporation of Nigeria has been inaugurated by the Federal Government.

Vice-President Yemi Osinbajo inaugurated the committee in Abuja, a statement by his Senior Special Assistant on Media and Publicity, Mr Laolu Akande, said on Tuesday.

Members of the committee include heads and representatives of agencies such as AMCON; the Economic and Financial Crimes Commission; Nigerian Financial Intelligence Unit; the ICPC; Central Bank of Nigeria; Nigeria Deposit Insurance Corporation; 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”, the VP told the members.

“About 67 per cent of the outstanding N5tn debt is said to be owed by just 20 individuals/entities,” the statement added. Punch