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Nigerian bankers and its officials who facilitated the huge non-performing loans in Asset Management Corporation of Nigeria, AMCON's portfolio, are the new target of the Economic and Financial Crimes Commission, EFCC-led by Ibrahim Magu.
AMCON in a statement after a meeting with the management of EFCC on Thursday in Lagos said it is collaborating with the commission to check out some banks and its officials
It said the decision was for both agencies to consolidate on the gains in the areas of investigating, prosecuting and compelling all obligors of AMCON to recover N4.6 billion from debtors
“The agencies are planning to revisit, reinvestigate and duly prosecute such banks and the responsible officials,” the statement read.
“In appropriate circumstances, these bankers would also be called upon to account for their roles in granting these questionable facilities.”
In his speech, Ibrahim Magu, EFCC acting chairman, said both agencies had “very tough, overwhelming and challenging” assignments, adding that he was happy that AMCON, under Ahmed Kuru, is doing everything to confront debtors.
AMCON said since its establishment it has acquired debts from 22 banks worth N3.7 trillion and provided financial accommodation to 10 banks of about N2.2 trillion.
The chairman said the corporation still has about N4.6 trillion worth of unresolved loans,which represents 75% of Nigeria’s budget.
He said failure to resolve the debts would have serious implications for the country.
AMCON in a statement after a meeting with the management of EFCC on Thursday in Lagos said it is collaborating with the commission to check out some banks and its officials
It said the decision was for both agencies to consolidate on the gains in the areas of investigating, prosecuting and compelling all obligors of AMCON to recover N4.6 billion from debtors
“The agencies are planning to revisit, reinvestigate and duly prosecute such banks and the responsible officials,” the statement read.
“In appropriate circumstances, these bankers would also be called upon to account for their roles in granting these questionable facilities.”
In his speech, Ibrahim Magu, EFCC acting chairman, said both agencies had “very tough, overwhelming and challenging” assignments, adding that he was happy that AMCON, under Ahmed Kuru, is doing everything to confront debtors.
AMCON said since its establishment it has acquired debts from 22 banks worth N3.7 trillion and provided financial accommodation to 10 banks of about N2.2 trillion.
The chairman said the corporation still has about N4.6 trillion worth of unresolved loans,which represents 75% of Nigeria’s budget.
He said failure to resolve the debts would have serious implications for the country.
