The Asset Management Corporation of Nigeria (AMCON) has recovered a total sum of N681.5billion in the last six years of in the form of cash, properties and shares.
Managing Director/Chief Executive Officer of AMCON, Ahmed Kuru, made the disclosure on Monday at an interaction conference of Federal High Court Judges, which held at the institute’s complex in Abuja.
He also confirmed that most of these recoveries were made possible through court sanctioned settlements or outright judgment, adding that AMCON presently has at least N1.7trillion worth of assets under litigation across the federation.
He said AMCON would continue to crave the support of the judiciary, while urging the need for an effective resolution mechanism through the courts.
The Administrator of the National Judicial Institute (NJI), Hon. Justice Rosaline Patricia Irorefe Bozimo (OFR) reiterated the importance of the judiciary and all stakeholders in the financial industry to support the activities of AMCON and its debt recovery efforts because of the huge positive impact of that to the Nigerian economy and its ability to correct the economic flaws of the past, which led to the establishment of AMCON.
