The chairman, House of Representatives Committee on Media and Publicity; Abdulrazak Namdas disclosed that 20 Nigerians are owing the federal government N1.2 trillion.
He stated further that recovering the money could help Nigeria to overcome hard times posed by the ongoing recession.
Speaking at a press conference yesterday, Abdulrazak said: “As we all know we are in a recession. AMCON was established between 2007 and 2009 as a response to global financial crisis. The Federal Government through ministry of finance guaranteed a loan that AMCON should raise 5.67 trillion naira, this was to save some of these failing financial institutions at that time, AMCON cannot recover its 2.473 trillion.
This is a time we need this resources and this debt is piling up and people owing this money are still leaving and kicking and infact they don’t appear to have issues, some of them own private jets. If we can invest that money into the economy, it will assist the economy very well and it will interest you to know that out of this 2.4 trillion only 20 individuals have about 1.2 trillion to cough out.”
Earlier, the house of representative mandated its committee on banking and currency to investigate the failure of bank debtors to pay up their loans to the tune of N2.4 trillion.
He stated further that recovering the money could help Nigeria to overcome hard times posed by the ongoing recession.
Speaking at a press conference yesterday, Abdulrazak said: “As we all know we are in a recession. AMCON was established between 2007 and 2009 as a response to global financial crisis. The Federal Government through ministry of finance guaranteed a loan that AMCON should raise 5.67 trillion naira, this was to save some of these failing financial institutions at that time, AMCON cannot recover its 2.473 trillion.
This is a time we need this resources and this debt is piling up and people owing this money are still leaving and kicking and infact they don’t appear to have issues, some of them own private jets. If we can invest that money into the economy, it will assist the economy very well and it will interest you to know that out of this 2.4 trillion only 20 individuals have about 1.2 trillion to cough out.”
Earlier, the house of representative mandated its committee on banking and currency to investigate the failure of bank debtors to pay up their loans to the tune of N2.4 trillion.
