Osinbajo raises panel to recover N5tr AMCON debts

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Osinbajo raises panel to recover N5tr AMCON debtsVice-President Yemi Osinbajo on Tuesday inaugurated an inter-agency committee to recover the N5 trillion debts owed the Asset Management Corporation of Nigeria (AMCON).

A statement by his Senior Special Assistant (SSA) on Media and Publicity, Laolu Akande, announced this in Abuja.

The statement said members of the committee include heads and representatives of agencies, such as AMCON, the Economic and Financial Crimes Commission (EFCC), Nigerian Financial Intelligence Unit (NFIU), the Independent Corrupt Practices and Other Related Offences Commission (ICPC), Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC) 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 time lines will be,” Osinbajo said.

The statement added that “about 67 per cent of the outstanding N5 trillion debt is said to be owed by just 20 individuals/entities”.

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